So, you want to become a bookie? Thousands of people in countries around the world have carved out a niche in the sports betting industry. It’s possible to start small and grow your business organically without having to spend millions on marketing.
Running a sportsbook is similar to owning any other business. You’re going to need to be able to keep detailed books, so you know exactly how your finances are. Bookies also have to spend time marketing and building a player base to keep money coming in. You’ll also be required to provide customer service to keep your players happy.
If you’re not ready or are unable to devote the time it requires to run a business, you have no chance running a successful bookmaker. To become a bookie agent you have to spend countless hours working and you need to turn yourself into a jack of all trades.
Do you have what it takes to run a sportsbook? If so, follow these next steps.
Sign-up for a Pay-Per-Head Betting Service
Finding a pay-per-head (PPH) service is the first thing you need to do. For those unaware, a PPH service will provide you with the software you need to run your sportsbook. You’re not going to be sending your players betting lines through text messages. A great PPH shop will also have oddsmakers to set lines for a variety of sports.
The PPH industry is competitive, so prices are inexpensive, which is great for a new bookie with a limited budget. You’ll pay less than $10/head for the best PPH services and most of your business will become automated. You’ll have your own website where you send your players to open up accounts and they’ll be able to start wagering on sports.
You’ll still need to collect the cash when your players lose, which is ideal, as that way you don’t need to trust a third party provider with your players’ cash. With the software, lines and support covered by a PPH service, you can spend most of your time marketing.
Build Your Player Base
When you become a bookie it’s ideal if you have at least a handful of players before you join a PPH service, so that you can start earning money right away. Building up players isn’t easy with so much competition, so you’ll want to look for growth locally initially.
Do your friends or people at your work enjoy betting on sports? Finding your first few players through friends is ideal. Once you have some players they’ll start telling their friends about where they’re betting on sports and that’s how you grow organically.
Eventually, you’re going to want to market yourself online. Whether you try and get traffic through search engines by publishing betting content or you purchase ads on betting websites, the important thing is to track every cost and only pursue verticals that have a positive ROI. Social media is also a great way to get your brand in front of sports bettors.
You don’t need a huge marketing budget when you initially become a bookie, but you do need to have a big enough bankroll to cover your early losses. While the house will always win over the long term, you may need to finance some big winners in the early days. Most bettors lose long term, but every bettor has a heater at some point.
The most important thing when starting a bookie is paying your players quickly. You want to be able to pay them as fast as possible so that you retain those bettors. If they know you’re going to pay quickly when they win, why would they risk betting elsewhere? Your reputation is everything in the gambling industry and it can be tarnished quickly.
Learn more about Pay Per Head
• Why PayPerHead247?
•Methods to Grow you Network
•Take Advantage of a Dynamic Live Betting Platform.
•Horse Racing Software.