To own your own sports betting operation can certainly be a rewarding experience, not just in the material aspect, but also because you are your own boss and are doing something that you are passionate about.
Here we are offering you some good information that can help you get started with your own pay per head bookie home business.
The Type of Home Business
Once you decide that your place of residence is also going to serve as your center of operations then it is time to find out what type of home business you want to run.
There are 2 main types:
Direct Selling: Direct selling takes place when you sell your pay per head bookie services directly to the consumer away from your business location.
Even though you are running a home-based company, direct selling is likely to become a big part of your business strategy as either you, or your sub-agents, will need to do some foot work on a regular basis in order to recruit new players.
Franchise: To run a franchise means that you have an agreement with another pay per head bookie for the purpose of offering sports betting services using the agent´s own brand. This is done in order to obtain recognition faster with the goal of improving conversion rates.
Doubtless, if you are looking to run a home-based pay per head bookie company it is because you want to make some good cash, and with that in mind, it is very important that you have a handle on your finances.
Here are some tips that can help:
Finding the Funds: To get started, you definitely need to have some funds, and in order to get them, you can consider asking your friends or family members, get the cash from your own savings account, using credit cards, or even contacting an angel investor.
Keeping Track of the Money: Once you are in business, in order to get the best results you must be organized by keeping track of the cash that is coming to you, or the cash that is part of your expenditures.
You can either opt for using software such as Quicken, QuickBooks or Microsoft Office Accounting.
Even better, you can hire your own particular accountant, either as a full-time employee of your bookmaking operation, or as a freelancer.
Plan for your Retirement: Although a career as a pay per head bookie entrepreneur can provide you with the kind of cash that can allow you to retire, it is not a bad idea to arrange for things such as setting up your own IRA, 401 k´s or other retirement plans.
And of course, don´t forget to also pay for your own health insurance!
Dealing with Problems
Whether you run into a small or a considerable unwanted situation, as the owner of your own pay per head bookie company you must be able to deal with problems in the best possible way. It doesn’t matter how good your plans are, just like with every business out there, yours is also going to run into trouble at some point.
Some of the problems you may run into are:
Legal Issues: Although you are working with offshore bookmaking services, it is important to keep legal matters in mind. After an accountant, the other key piece in your business structure should be a good attorney. Make sure to keep one closer in order to deal with any legal issues that may arise.
Services: It is paramount for the success of your pay per head bookie business to hire the best personnel that you can in order to deliver the best possible services to your customers.
For this reason, you must take the necessary time in order to find the right individuals to perform specific tasks.
Make sure that each individual that you hire has the necessary skills and is reliable enough in order to avoid unwanted situations related to the services your employees are performing for your business.
Rip-Offs: Since the main keyword in your particular business is money, chances are that you will find, along the way, people that really don’t have the best intentions when it comes to place wagers with your sports betting organization.
So, when you sign up a new client, make sure to study the wagering behavior of the individual in order to confirm if the person is a solid player or a wiseguy/scam artist.
One of the most positive aspects of running your own home-based pay per head bookie business is that you can watch it as it grows and matures, month after month, and year after year.
Here are some tips that can help you to keep your business moving ahead:
Make the Internet Work for You: Even though you may have some good chances of succeeding locally as a wagering agent, running your business from your own place of residence allows you to think bigger by expanding using the web.
The internet can work favorably for your business by allowing you to market your sports betting services to a broader audience, allowing you to obtain online client conversions.
Keep a Serious Business Attitude: Just because you are running a wagering operation from home instead of working from a large office located at an upscale building, it doesn’t mean that you shouldn’t treat it as the actual money-making business that it is!
So, feel as if you are the CEO of the largest pay per head bookie services corporation in the world, and run your company accordingly.