How To Earn Money As A Bookie?
Bookies are people who settle for bets on numerous sporting occasions. When a player takes the bet on Chiefs against Buccaneers, then bookie will need the opposite team to win or cover the spread in order for him to earn money on that wager. The excellent news is that gamblers usually lose over the long term. Which means that whatever the players’ losses become money earned by the bookie. But, how a bookie actually earn money through the bets? Let’s talk about more in this article.
What is Vig or Juice?
All sports wagers have a vig which is usually 10% adding from the bet amount. To be more specific, if somebody desires to win $100, they should risk $110 in order to win the targeted amount of money.
How bookie earns money?
This mentioned 10% juice on all wagers may look little to most of the people; however, it actually sums up rapidly. Eventually, even when players win half of the wagers, bookie still end up earning money because his/her players have lost all the juice on each of losing bets. This is to say that bookies earn money from those players who lose when they gamble. In fact, more players bookies can get, much more money they will make in the long term.
Another important step that bookies should do to earn money is to start using a Pay Per Head software which facilitates users to piggyback off their traces and betting platform. A trustful Pay Per Head provider such as PricePerHead.com charges weekly a tiny fee per each active player. In return, they support the bookies with a user-friendly website with thousands of betting choices every day. In addition, they manage the traces up to the second and immediately grade all the games as soon as every game is over. Everything will get updated automatically to the players and bookies account to allow them to see precisely how much they’re up or down on the day, the week, month or lifetime of the account.
In sum, this small investment of per head fee is totally worth it because between the time it can take bookies to easily track every details on their players through the platform. You do not need to manually keep track of all the bets because doing this way actually restricts the revenue potential of your bookie business. Simply choose a company like Price Per Head, you can begin to make more money for your business now!