What is a Bookie? Understanding the Basics of the Business
Do you want to know What is a Bookie? If that’s the case, it’s likely that you may be interested in becoming a bookmaking agent yourself.
And, if you want to start a sports betting and gaming operation; you need to get familiar with what a pay per head shop is; and how it can help you become successful.
What is a Bookie?
We can start by answering the question: What is a Bookie?
A bookmaking agent manages a wagering and gambling portfolio.
This means that the agent uses sportsbook software to run a sports betting and gaming operation; which includes a certain number of players.
The agent is in charge of going out there and getting clients for his business.
Or, he can hire sub-agents to do this work for him.
The more clients the top bookmaker has, the better his profits are going to be, on a monthly basis.
Understanding Pay per Head Services
Learning What is a Bookie doubtlessly includes getting familiar with pay per head services.
These are solutions that are offered to the agent so he can manage his operation seamlessly.
Such price per head services include:
- Sportsbook software for the agent
- Web and call center betting for players
Sportsbook software for the agent
When an agent signs up with a pay per head shop, he gets access to custom bookie software. This is an important concept to get familiarized with when learning about What is a Bookie.
This is a data management tool that includes a number of great reports. These reports offer a variety of information, and are very user-friendly.
With the help of such reports, the agent is able to make better decisions that leads to better profits.
This bookmaking software is also great because it offers data in real-time; which means that all current action from players on the sportsbook or the casino becomes immediately visible for the agent to check.
Web and call center betting for the player
If you want to learn What is a Bookie, it’s also important to understand that pay per head services are not only for the agent; but also for his players.
The solutions for the players are dedicated to make it easy for them to place bets or play casino games; such as PPH Poker.
They include services to bet online, on a website provided by the pay per head company.
Or over the phone, using the PPH Shop’s offshore services call center.
The Pay per Head Fee
With the aforementioned solutions, the agent can guarantee a full satisfactory service for his clients. This is also good to keep in mind when learning What is a Bookie.
And this only cost him a weekly price per head fee that’s based on usage.
This means that the PPH Shop charges the agent a fixed weekly fee per client.
So, for example, let’s say that an agent has a total of 50 clients, and only 25 utilized the service during the week.
Then, the agent pays the PPH Shop for the services delivered to the 25 active clients only.
This fixed weekly price per head fee, also means that players can play as much as they want during the week; and the price remains the same for the bookmaking agent.
What is a Bookie: How to Run the Business
Learning about What is a Bookie also includes information on how to run a wagering and gambling operation.
The Learning Curve
A top bookmaker is someone that has learned everything he can on sports, wagering, gambling, business, math; and any other extra resources.
And he did this in order to improve his skills and attract and retain as many clients as possible.
So, if you’re an aspiring bookmaking agent, this is where you can start. This is is indeed, the first step of a successful career as a sports betting and gaming services professional.
Getting the Funds
Learning What is a Bookie definitely includes info on how to get the necessary funds.
This is because you really can’t start a wagering and gambling operation if you don’t have the needed cash.
So, if you have this money in your bank account, this is definitely the best source.
The reason is because when you invest your own money, all the profits are going to be yours.
On the other hand, if you don’t count with the needed funds, you will need to get it from someone.
This can be either a family member, a friend, or even an investor.
If you get the money from someone close to you, make sure you will be able to pay back what you requested; and that is because you don’t want to create long-term family feuds due to a debt.
Now, when it comes to getting this cash from an investor; you need to make sure what is it that you really want to get from the deal.
This means that not all investors want the same type of deal; so you need to verify what kind of deal you’re getting into before you get the cash that you need in your hands.
For example, it may be the case that a given investor wants to give you some money because he actually wants to become your partner.
Or, it can also be the case that an investor just want to give you the money you need in exchange for a monthly profit.
Promoting Your Business
The last step on learning about What is a Bookie involves providing information on how to promote your business.
As a bookmaking agent, you want to get as many clients as possible on a regular basis.
This means that you’ll always need to be on the lookout for new prospects.
The reason for this is because although you may have a good number of current players; not all of them are going to remain placing bets and/or playing casino games with your operation.
So, if this is a job you want to do yourself, you need to become good at sales.
Or, you can also consider hiring sub-agents so they can do this work for you.
And these are really all the basics about What is a Bookie; and a good initial point to get started with a successful career.