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How to Become a Bookie
How to Become a Bookie

Business

How to Become a Bookie: All Your Questions Answered

Did you know over 33 million Americans bet on NFL football? Experts predict that number will only grow. As more states legalize sports gambling, more people will play.

You win a decent amount, and you can spot reverse line movement. You also know that even the best sports bettors have a hard time turning a consistent profit.

Have you ever thought about getting on the other side of the window? Taking bets has never been easier.

If you want to become a bookie, there’s so much you need to know. Read on to learn all about what it takes to be a successful bookie.

Knowledge is Vital

You can’t buy a wrench and start a plumbing business, and you can’t open a bar and make money without understanding pour costs. It’s impossible to be a successful bookie without foundational gambling knowledge.

You have to know how sports gambling works, and you have to know it better than the average player.

The Edge

Sharp gamblers are like sharks, and weak lines are their chum. If you’re an experienced gambler, you know you were always on the hunt for an edge that’d make you money.

Maybe it was those old-school parlay cards. Perhaps it was live-betting table tennis. Players will use any advantage they can find.

If you plan on being a bookie, you have to know more than the players to keep from exposing yourself.

Sports Knowledge

Do you fancy yourself a sports fan? That’s great. So does everyone else.

The thing is, bookies need to know way more about sports than the average fan or player. Being a successful bookie is all about research and knowing how any sport works.

The life of a bookie is sports news all day. Plan to scour the papers and the internet for every parcel of information.

  • Scoring structures
  • League and team trends
  • Individual player performance
  • Team injuries
  • Weather
  • Rule changes that impact scoring
  • Match-up statistics
  • Player controversies like contracts and law enforcement issues

There’s always someone who can outsmart you. If you want to be a successful bookie, you have to make sure you’re not getting outhustled. Deep sports knowledge and extensive research is the only way to win.

Money

You need money to make money. It’s an old saying, but it’s true. Becoming a bookie is akin to starting a small business.

No matter what industry, you can’t operate without start-up capital. Unfortunately, bookies can’t access this money through traditional means like small business loans. Your business will be self-funded.

Investors

You don’t have to go it alone. There are ways to secure the liquid cash you’ll need to start a bookie business. You can bring on investors.

Securing investors for a bookie business is more challenging than finding investors for a restaurant or a used car lot. You’re unlikely to find people willing to lend you money without a legal contract.

Friends and family are vital. Maybe you have a group of gambling friends you can pool money with to start your business. This arrangement is the best option.

Make sure, though, that you work out all the financial details before you start taking bets. The last thing you want is any financial ambiguity.

A Software Platform

What is a bookie? A bookie is someone who sets the lines on a given game and then takes bets. Sounds easy enough, but it can get pretty complicated.

In the old days, bookies operated in cash. They took bets on a few sports leagues and ran their business out of a ledger. Technology has changed the game.

If you become a bookie, you’ll face stiff competition from commercial sportsbooks. These books offer convenience and player bonuses an independent bookie can’t match.

Pay-Per-Head Software

Pay-per-head is an online software platform that allows you to compete with the big books at a fraction of the cost. You don’t have to pay a software engineer to design your website, and you can start taking bets in hours!

Line Service

A pay-per-head sportsbook comes with a line service. These services offer bookies tight lines on every sport imaginable. You won’t have to spend so much time setting your prop markets.

You can also offer bets on sports leagues you don’t follow. The more action you offer, the more players you can win.

Accounting and Risk Management

Successful bookmaking is money management and risk assessment. A pay-per-head service does this for you. You’re able to see every open bet and evaluate your weak spots in real-time.

You’re also able to keep track of every dollar coming in and going out without having to crunch numbers. These analytics come with the service.

Expanded Payment Options

One of the reasons players love online sports betting is because it’s easy to pay. The commercial books allow players to upload cash instantly. A successful bookie has to go above and beyond, and PPH helps you do it.

  • Credit card and debit payment
  • Direct deposit from checking or savings accounts
  • Cryptocurrency in all forms

The more money you’re able to accept, the more money you’ll make. Pay-per-head gives you an advantage and is worth checking out. Click here if you have ever wanted to be a bookie.

Become a Bookie in Minutes

You love sports, and you love gambling on them. These passions guided you to big winnings through the years. You know, however, that the sportsbooks always have the advantage.

Do you want to become a bookie? It’s never been easier. If you think you have the money and the sports gambling knowledge, pay-per-head software platforms are affordable and easy to use.

Once you sign up, you can start taking bets within minutes!

Do you need more business news? Make sure to check out the rest of our page.

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