With sports betting becoming increasingly popular and the advent of technological developments that make it possible for anyone to bet online safely, becoming a bookmaker for dummies is piquing the interest of individuals from all walks of life.
Simple Steps to Success
Due to the overwhelming amount of questions we receive on a weekly basis, we have taken it upon ourselves to compile some of the basic bookmaking guidelines for dummies. Without further ado, we present the ‘how to be a bookie for dummies” handbook.
Step 1 – Allocate Time
Realize you are starting a business, and every business needs attention. Figure out how much time you can dedicate to this new venture, are you able to dedicate 100% of your time to this, or is this a side gig that realistically you can only dedicate 25% to 50% of your time to? This is important because if you bite more than you can chew, you are most likely going to fail.
Step 2 – Develop a Plan
Once you know how much time you can dedicate to your business, start building a plan, set goals, and timelines to achieve them. Figure out if you will need to enlist the help of someone with specific skills or if you need an investor or partner. Marketing is an important part of your bookie business, without clients, you won’t go very far, so make sure to develop a marketing plan, it doesn’t have to be complicated, it could just be “speak to Pete about his friends”, but you should know where your first clients will be coming from.
Step 3 – Secure Funds
Whether it’s your own money or an investor’s, you should know how much you have to start your bookmaking business, and how long this will last you. Thinking you can enter this business with just enough money to cover the expenses and potential losses for just a couple of weeks is a recipe for disaster. It would help if you had enough in the bank to last at least a football season.
Step 4 – Timing is Everything
Sports betting on this side of the world continues to be very seasonal, don’t attempt to start your bookmaking business in April and expect to still be around by football season without having depleted most of your business budget. Instead, try to open for business a couple of months before football season starts, this is the best time of the year for bookies in America.
Step 5 – Go with the Experts
If you had a chance to start a tech firm with the help of Bill Gates or Joe Blow from Idaho, who would you choose? As a bookie, you have options of who to work with as well, you can choose to go old school and do everything yourself, but, we strongly advise you not to. You could sign up with a cheap pay per head, but, you get for what you pay, and as a new business owner you can’t afford to work with amateurs. The best move you can possibly make is to sign up with www.AcePerHead.com, where experience, professionalism, cost-effectiveness, and personalized service are what you will get.
We care so much about your business, and we are willing, to be frank, and tell it like it is, we have seen many bookies fail because they would not heed our advice, don’t be one of them, our “how-to be a bookie for dummies” is our way of helping you start the most successful bookmaking business possible.
How to Run a Bookie Operation?
Running a successful sports betting operation requires a lot of hard work, but it can be done. Here is our guide to becoming a bookie for dummies.
Sports betting has always been a part of our culture. Up until 2018, sports gambling existed as an underground market outside of Nevada. For decades, bookies in states across the country operated in back rooms and pool halls.
Not anymore. Sports betting is now a legitimate business in many states across the US, with more to come. It’s so legitimate that major sports networks devote valuable air time to sports gambling.
Are you a skilled player? Have you considered becoming a bookie? If you’re an experienced gambler, you know there is money to be made.
So why not make it? If you hustle, you can build your own sports betting operation for dummies.
How do you become a bookie? Read on to learn more about it.
Becoming a professional bookie is the same as opening a restaurant or a candle shop. You need to make an initial investment.
When you think about traditional business start-up costs, you think about the money you need to rent or buy a building. Then there are equipment and advertising costs to consider. Then you have to pay to hire and train employees.
A sports betting business doesn’t require those traditional costs. You aren’t interested in opening a physical casino. In fact, dummies can operate a bookie operation in your underwear.
The major start-up costs associated with a sportsbook are price per head sportsbook software fees and a sum of money that allows you to pay out on winning bets.
Thirty years ago, when you thought about how to become a bookie for dummies, all you needed was a pencil, paper, and that sum of money. Because sports betting remained illegal in 49 states, you had a captive betting audience.
If you live in a legal online betting state, you face competition from online sportsbooks with sleek gambling platforms players access from their smartphones. Offering bets over the phone or in a bar won’t cut it.
If you plan to operate a sportsbook, you must go online to get players.
Where Do You Get This Money?
The old saying is true. You need money to make money. There aren’t many of us who have thousands of dollars laying around to invest in a business of any kind.
Like traditional start-up businesses, you’ll have to find money to supplement your investment. There are ways to do this.
Unlike a pizza shop, you won’t be able to go to a bank and get a business start-up loan for your sportsbook. You’ll have to turn to someone close to you.
Friends and family are a great option to raise start-up money for your bookie business. These are the people closest to you and who believe in your success. They might be willing to go into business with you.
If that’s the case, your friends and family will be investors. You can also raise funds through other investors outside of those close to you.
Local sports websites or other business owners could give you money to start if they think your sportsbook will get them a profit.
Get the Best Pay Per Head
Once you have the money, you need to buy into an online gambling platform where your players can bet. Software like AcePerHead serves as a platform, a numbers service, and an agent.
Back in the old days, a sportsbook was at least a two-person operation. You needed a bookie and a bookie agent. The bookie, or the handicapper, set the lines players wagered on.
A bookie agent processed those bets and paid out accordingly. A bookie agent more or less acted as the sportsbook accountant. The best PPH software like AcePerHead does this for you.
Your sportsbook can grow and remain a one-person business.
The best PPH platforms offer you a line service. Back in the old days, smaller book operations didn’t have the time or ability to set lines for smaller sports. Most books took bets on the big five American sports leagues and men’s collegiate.
They didn’t have to. Cable television and the internet opened up gambling markets that were not accessible to Americans, like major European soccer and hockey leagues. These days, players want the ability to bet on everything.
With this built-in line service, you can offer your players every bet under the sun.
You ask, “How do I become a bookie for dummies?” You know you need some money, and you know you need the best software. Check and check.
You better know how to sports gamble, and you better be good at it. You cannot operate a successful book without understanding how the numbers work and what they mean, even if you subscribe to line service.
Gambling knowledge is key to building a business.
With legal gambling and incredible online options already available to players, you have to figure out a way to get people to play with you.
What do the online sportsbooks have that you don’t?
They have great bonuses that offer new players free money. They offer odds boosts on certain games. With millions of dollars in their coffers, they offer players higher bet limits.
What do you have they don’t?
The personal touch. You need to market yourself to players to gain their trust in your platform. The best way to do that is by showing your gambling expertise.
Becoming a Bookmaker Is Hard Work
It’s hard work, but it’s also rewarding. You get to be your own boss, and you get to earn money by watching sports. What could be better?
If you’re interested in becoming a bookie for dummies, you need seed money. You need a foundational knowledge of sports gambling.
You also need the best PPH software platform. AcePerHead.com offers bookies a software platform that can’t be matched. Create your package today.