How Does Bookie Make Money?
Bookie agents are people who settle bets on all kinds of sporting occasions for the gamblers. The ideal situation for bookies to make extra money is when the opposite team wins the bet that their players placed. However, we can honestly tell you that the good news here is that gamblers normally lose over the long term. Whatever players’ losses would become bookies’ profits or funds to use in order to grow the business. But how exactly bookies make money? Continue reading this article to know more details.
All depends on the Vig / Juice
There is always a vig or juice involved within all sport bets and normally it’s 10% from the betting amount. Which means if player wants to win $100, then he/she needs to risk $110 to win $100. Soon after, he / she will end up losing money because of all the paid juice lost from the losing bets.
Increase betting limits
The other way to take advantage of the earned money from your players’ losing bets is to increase the maximum betting limits. Therefore, players can gamble bigger and even take more actions to wager with you.
Recruit more players
Remember the more players you got, more money you can make in the long run. This is why you should dedicate your time on recruiting new players in order to expand the business.
Use Pay Per Head service
Another key factor for a bookie to make money is using Pay Per Head service. Such service only charges the user a small fee per active player per week but you can receive a complete package in return. Learn why using Pay Per Head is the best solution and how it can become your best business partner. Besides, this weekly small investment is totally worth it because you no longer need to keep tracking hundreds of bets manually but you can easily find all the details and reports within the system. As a result, you will have more available time to get the better opportunity for expanding your business and also dedicate more time on the management.