Becoming a bookie is simple but not always easy because of several factors that include money, clients and knowledge. Even though we cannot help with money, we advice you on the next two factors of being a successful bookie. Thus, if you want to know How to be a Bookie then keep reading for the knowledge to become one!
Many people have different reasons to become a bookie but let’s be honest, mostly about making money. In fact, sport betting is one of the fastest growing industries in the world and can be quite profitable.
9DollarPerHead.com wants to make your dream a reality because we are the best Pay Per Head in the business. This means that when you make money, we make money which is why bookies around the world use our services.
Even though you don’t need a degree to be a bookie, you do need basic sports betting skills and knowledge. Thus, to save time we will assume that anyone reading this tutorial is already knowledgeable about sports betting. So here is what you need to be a bookie.
Thanks to Pay Per Head Bookie services, you no longer need a lot of money to start a bookmaking operation. However, you still need enough to pay players on a regular basis and in case of a bad losing streak.
If you ask people how much money you need to be a bookie, you will always get a different answer. This is because it depends on the size of your operation, how often you have payouts and your betting limits. Even though there is no magic number to give you, we can give you some pretty good estimates from historical bookie data.
If you have 25 players, a 7% handle, $7,000 in deposits and $100,000 in monthly wagers you need about $10,000. This is assuming that you are using a PPH service and have no employee overhead. Thus, it would be enough to pay everyone off at the end of the month if you had a bad month.
Yes, this is probably not the answer you were looking for but it is enough to give you a rough idea. Just keep in mind that these are conservative and general numbers and that you control betting limit.
Players are your customers. The more you have the more you spread your risks and the more money you make. There are two schools of thoughts on what kind of players a bookie needs in order to be successful. Do you want lots of players and hope the laws of average are with you or do you want whales?
We know bookies that make a decent living with only 6 players. On the other hand, we also know bookies that barely make a living with 100 players. Thus, in most cases you will not know what kind of layer you have until they start playing with you.
If you do not have the bankroll to take heavy losses then you have two options. You can micro-manage winning players by setting lower betting limits or type of bets or just get rid of them.
The last or first thing you will need to be a bookie is a Pay Per Head provider like 9DollarPerHead.com. This is because a Bookie PPH service allows you to have all of the resources of a sportsbook at a fraction of the cost.
When you use 9DollarPerHead.com you get the following for only $9 per player:
Thus, using a Bookie PPH like 9DollarPerHead.com gives you all of the tools necessary for a profitable operation.