Becoming a Bookmaker: What is Needed, And Getting Started
Becoming a Bookmaker is easy nowadays, and a good first step is to understand the bookmaking profession.
Then, you need to get the startup capital; and associate yourself with a pay per head shop to get sports betting and gaming services.
Becoming a Bookmaker: The Profession Explained
Becoming a Bookmaker starts by understanding what is it that a bookie do. An agent is someone that takes bets professionally.
Old school bookies were famous for their ability to calculate odds and pay outs for winning bets.
This however, is not necessary any longer because this is a task that can done with sportsbook software.
What is great about a PPH Shop is that it allows the bookie to offer his players access to a call center and to a wagering site.
And doubtlessly, these are two essential elements to become a successful bookie.
Becoming a Bookmaker doesn’t mean that you need to be great at math. However, it is important that you understand the math directly linked to wagering and gambling.
You also need to acquire some negotiation skills that can allow you to sign up new players on a regular basis.
And, you’ll also need such skills to convince an investor to fund your operation.
Working with a pay per head shop means that you’re covered for most of the staff needed.
With that said, there’re a few direct employees that you can consider hiring in order to run your operation seamlessly.
This can include a personal accountant to run the numbers for you; and also a personal assistant to help you with miscellaneous tasks.
What You’ll Be Doing
Becoming a Bookmaker means that you’ll have to deal with some day-to-day tasks, such as:
- Getting leads
- Client conversions
- Checking bookie software
- Collecting payments and paying up winners
Before signing up a new client, you need to make sure that the person is a good lead.
This means that you can first bring the subject of wagering in a conversation; and if the person is actually a bettor or a gambler, you can feel free to collect the contact info of that individual.
When you get a number of leads, its time to start getting some client conversions.
This can be as easy as calling or emailing your prospects to let them know about your operation; and also to tell them to become your clients.
Or it may also include meeting with a prospect face to face.
It really all depends on the type of lead. For example, if you know of someone that is a big-time player; meeting with such individual in person can be more effective than making a phone call or send an email.
The reason for this is because a big-time player can choose to play with whoever he wants.
Meaning that all top bookies are willing to treat these players as VIP’s, so if you want to get their action, you should do the same.
Checking bookie software
Another important task for the agent is to check the sportsbook software on a regular basis.
This is easy to do, and it can be done from any smartphone, tablet or laptop.
This means that the bookie can be anywhere in the world; and he can run his sports betting and gambling operation professionally, and effortlessly.
Collecting payments and paying up winners
As bookie, you can choose between making your own collections; or hiring a professional collector to do this job for you.
A collector can also be a sub-agent. This means that you can have a sub-agent running the business for you in a different area.
And that person can also take on the responsibility of collecting from players or paying up those who won their bets.
Getting the Startup Funds
Once you have acquired a good understanding about how to run the operation; and what you need to do to actually open your own sportsbook, the next step is to take some action.
This means that you must acquire the startup funds that can allow you to run your wagering and gambling operation successfully.
You can do this by using your savings; or if you don’t have the right amount, you can request this capital from an investor.
An investor is someone that is willing to give you this cash in exchange for either:
- A return on his investment
A return on his investment
This means that the person that can give you the cash you need is willing to do so in exchange for a mere profit. That’s it.
In some cases, Becoming a Bookmaker may only be possible by working with a partner investor.
This means that such individual can grant you the money, but only as part of a partnership deal.
Signing Up With The Right Pay per Head Shop
The next step when in the process of Becoming a Bookmaker is to sign up with a pay per head shop.
With that said, this can’t be just any PPH Shop. It must actually be one that is located offshore, in a country such as Costa Rica.
This is because a country like Costa Rica is home of some of the most reputable price per head companies in the globe.
So, if you’re on the phone with a representative of one of these PPH Shops; if you realize that such company is located in Costa Rica, then this is definitely a great sign that you’re on the right path.
Now, in order to figure out if you’re actually working with one of the top PPH offshore services from CR; you can ask questions about what they have to offer.
Such services include:
- Their bookie software
- Call center
- Online betting and casino
Their bookie software
Check if their bookie software includes live monitoring and customizable reports.
This is because these two elements can really make the difference for your sports betting and gaming operation.
You also need to ask them about their call center services. A good calling solution includes access 24-7, year-round. And, it must be provided by experienced, multilingual clerks.
Another feature that must be available for players is online betting.
This means that players must get access to a website where they can either place sports or horse bets; or play casino games such as PPH Poker.
The casino part is very important because it can double the profits of the bookie. So to count with this solution is paramount when Becoming a Bookmaker.