Are you considering becoming a bookie? If that’s the case, but you still are not too sure about what being a sportsbook agent is really all about, then reading this article is a good first step to take as it will help you clarify some doubts you may have related to basic matters such as business figures, the regular profile of bettors, and the heavy and slow betting periods of the year.
A bookie business definitely requires capital, first to get the sports betting operation started, and then to back wagering action.
The actual amount of cash that is recommended to get a bookie company started really depends on the type and size of the wagering operation, but a fair number for a regular bookmaking business is between $10,000 and $30,000.
Although this may seem a lot, don’t worry, you will definitely recover your initial investment real quick.
In fact, chances are that you may not even need to touch much of that cash, however, if a player wins, you must use those funds to pay him without any type of excuses, and the reason is because you want to avoid negative word of mouth about your bookie business as this is a factor that can really make you or break you.
Remember: The profits you can make are directly associated with your reputation as a sports agent.
With that said, you can actually start a bookie operation with as much cash as you want, just make that such amount is in pair with the bulk of bets you will be handling.
While a new bookie operation is going to run into some normal and expected difficulties (as with any other type of new business out there), a more mature bookmaking operation is going to generate steady revenues from a regular customer base.
According to the experts, as a bookie, you are expected to obtain a quick return on capital, especially because agents make 10% on the total gross of all bets over time (this is what is commonly known within the sports betting community as the vigorish or the juice).
The main target for a bookie is the recreational sports bettor. Typically, this type of individual is older than 20 and younger than 70 years of age. Most of these recreational players have their own money and love sports, especially, but not limited to American Football.
There are some bettors that enjoy placing bets all year round, while others do so seasonally.
The slowest time for a bookie business, in terms of sports bets, is between the months of June and July, with the wagering activity increasing again early August, when the preseason for professional American football starts.
The period that goes from September to mid-June is full of activities, including heavy wagering on pro football and basketball, plus college games (and in some degree hockey and baseball).
Now, it is important to understand that a bookie can still make money during slow wagering periods by working with a top price per head shop that offers casino services, which the bookmaking agent can make available to his players.