First off, make sure you know your customers or remain anonymous. One way local bookies get into trouble with the law is because one of the bookie’s clients notifies law enforcement.
This happens more often than you think, especially when someone is down a lot of money. You’d be surprised what some people will do in order to avoid paying a sports gambling debt.
Your options are to remain a small bookie and vet everyone you bring in. Or you can opt to remain anonymous, which isn’t difficult when you’re running a PPH sportsbook.
One way to avoid trouble as a PPH bookie is to be smart about collecting money. Don’t have dozens of gamblers send you wire transfers to your bank on a weekly basis. Not only is that a red flag that banks will notice, but it leaves an easy paper trail to follow for law enforcement.
The best way to send payouts and collect is with cryptocurrency. This method isn’t perfect, but it’s much safer and you likely won’t have anything to worry about when using Bitcoin or similar cryptos.
Running a sportsbook can be a risky business depending upon where you reside. However, if you’re careful and smart about the decisions you make, you’ll often be fine.
I know many local bookies that have been in business for decades without problems. Make sure you don’t get greedy and avoid issuing big lines of credit, as that’s when problems can arise.