If you have been thinking about becoming a bookie, stop thinking. It’s time to act. Becoming a bookie is much easier these days with the introduction of technology in the industry.
If you follow the right plan, you can be on your way to success as a sports bookie in no time. What follows is a step-by-step guide on how to become a bookie.
Open an Account – Read Our PPH Reviews
The very first step on the road to success as an independent bookie is signing up for an account with a quality pay per head service. The days of the old-school bookie using pen and paper and a phone are gone.
A pay per head service will provide you with a turnkey bookie software system that you can plug into and get your business up and running almost immediately. The PPH software will manage your players, manage the financials, take care of bets, and much more.
Signing up with the right pay per head company will save you loads of time. The time saved can help you as you move onto the next step in becoming a bookie.
Growing Your Player Sheet
In order to accept bets, you’re going to need bettors. Typically, those who want to start their own sportsbook have a circle of friends or family that bet on a regular basis. This can be where you start your player sheet.
There are also those who want to start a sportsbook that do not have that circle of bettors. There are still ways to obtain customers. Start with those you know already as you can pick up a few bettors to get started. Then, you can move on to other marketing techniques – social media, for example – to help grow your customer base.
Get a Separate Phone
These days, most people have smartphones. If you are starting your own sportsbook, you should have a separate phone dedicated entirely to your business. Doing so allows you to keep your personal life and bookie business completely separate.
As your business grows, you will see that having a separate phone for your sportsbook is a great organizational tool. You will be able to manage your entire operation from your business smartphone.
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The Budget
In becoming a bookie, you have to realize that you are going to need money up front to cover any losses until your business starts growing. You should have on average enough cash available to cover payments to customers for four weeks.
You do not want to drive away customers because you can’t pay them. You also don’t want to rely on your losers paying for your winners, at least not right out of the gate when you start your business. Rule of thumb – keep cash on hand at all times.
Set Credit/Betting Limits
Use the power of your pay per head software and establish betting/credit limits for your players. Do not let them wager too often or bet extremely large amounts. Doing so will protect you (and your players) from big losses.
Your PPH software will allow you to automate and schedule player action limits at anytime from anywhere. With a quality pay per head, you will be able to stay on top of your sportsbook at all times. That’s what successful bookies do.
ScoresAndStats Gambling News and Betting Guides
Tracking
After selecting a pay per head service, getting your business phone, and sourcing your players; once you get going you’ll need to do some tracking. Your PPH software will help you do so. Track your players, their bets, the amount of action you take in on certain sports, and much more.
Tracking will help you make any necessary changes to your business and stay on the fast track to success. Starting a bookie business is relatively easy these days with the choice of the best pay per head service. Maintaining a successful business is the challenge, but following these easy steps can get you there.
