There a lot of tips that can be shared about how to start a bookmaking operation, and while success depends on many factors the advice of experts should always be heeded.
Advice from the Experts
Smart people learn from others mistakes, and smart businessmen are always looking for good advice.
Success can come quickly and leave even quicker.
There is nothing sadder than seeing a business with a great potential cave under the pressures of growing too fast. Early success is cause for celebration, however, as the experts of www.AcePerHead.com have seen time and again, if you are not able to get a handle the growth of your business, it will ultimately fail.
How do you avoid this? Choose a pay per head bookie service that provides you a solution scaled to your needs and is able to expand or contract as the market requires. This means, make sure you are working with a PPH shop that can handle a larger volume of transactions, this way they will be able to support your growth instead of hindering it.
It’s All About the Bankroll.
Money is at the center of a bookmaking business, you need to have a healthy stash of cash put aside to carry you through those times when the players are sure to be on a hot winning streak. Much like managing your household budget, where you put aside a chunk of money for unexpected misfortunes, you should do the same for your business. The experts recommend you have a reserve equivalent to 3x the total max win of your players, for instance, if you allow your players to win a maximum of $1000 per week, and you have a total of 10 players, then you should have $30,000 saved. This way you know that in the worst-case scenario you will be able to pay your players in full for at least 3 weeks. Clearly the more you can put aside the better. Although it sounds like a lot of money, it will ease the stress of a bad week which is priceless.
More is Better
One of the most common questions we get from people who are interested in how to start a bookmaking operation is should offer casino and horse racing or just stick to sports betting? The answer differs on whether you are setting shop on your own or if you are using a top price per head like AcePerHead.com, it comes down to cost of operating, if you are going solo then it can be expensive to manage a racebook and casino, because you need to pay for software licensing and have qualified staff handling the day to day operation. However, if you are utilizing www.AcePerHead.com, then pricing is no longer a factor because these products are included within their services. And in our experience the more quality betting options you offer your players, the happier they will be which in turn means they will wager more and provide you with an opportunity to make more money.
If you are interested in learning how AcePerHead.com can help you start a bookmaking operation call or visit our site and chat with one of their account reps today.