The Bookie is Dead! Long Live the Bookie!

The chronicle of a death foretold for bookies all across America was announced on May 14, 2018. On this date, the Supreme Court opened the door to legal sports betting in any state.

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Major news outlets like the Washington Post, New York Times, and Time Magazine are weighing in on what it could mean to a business that’s estimated to be worth more than $150 billion a year.

And already are some states such as New Jersey, Delaware, Connecticut, Illinois, New York, Massachusetts, and Rhode Island scrambling to pass legislation that would open the floodgates for revenue windfall to fill their coffers.

If you’re a bookie, business as usual will change as everyone and their uncle try to jump on the betting bandwagon.

The fact of the matter is, the expansion of legal sports betting beyond Las Vegas will create a dog-eat-dog world where Big Media and massive companies will strong arm the competition to scoop up all the profits and leave the scraps for everyone else.

Does the landmark decision mark the end of the bookie? In, the words of the great Mark Twain…“The report of my death was an exaggeration” is the more likely answer.

Bookies Won’t Die Off

A select group of bookies aren’t worried though. They know this isn’t going to affect guys like them at all.

They are thriving with an established clientele that’s loyal and regularly bets a substantial amount of money.

They have an advantage that no state, Big Media Company, or even leagues have. And the insider knowledge on what this industry change can do to grow their profits in a massive way as small-time bookies are thinned out and leave millions of dollars on the table for them to collect.

They know there’s good fishing in troubled waters. And they will profit handsomely in the years to come.

If this rings true to you then there’s probably not been a better time for you to make a whale of a catch as well.

But, there may only be a short window of opportunity for you to gain an advantage over the new players who are planning to eat your lunch.

While it’s going to take some time for the court’s decision to have an effect, as states come up with the legal framework to accept sports betting, in as little as five years there could be as many as 38 states to have legalized sports gambling.

How Will You Win In The Years To Come?

To compete in this new era of “gamblization,” you’re going to have to level the playing field.

You’ll need access to the same technology, infrastructure, and resources that major sportsbooks have available to themselves and for their clients.

You’ll find that you need to offer among other things…

•                A substantial number of betting opportunities apart from football, basketball, and baseball. If you want to exponentially increase your handle, then offer your clients more things on which to bet on.

•                Betting on global markets. With hundreds of international sports leagues and matches across the world taking place every single day, you can’t afford not to expand your offer to these markets.

•                Access to new and different bet types such as parlays and teasers. You can increase your winnings tenfold with these types of “sucker” bets that are practically impossible to win.

•                A way for your clients to bet online through a secure, safe and easy website that’s available 24/7, 365 days a year. 

•                Mobile betting. In order to stay ahead of the curb and meet your clients where they are, you will have to be ready to take bets from mobile devices and smartphones. You could be leaving hundreds of thousands of dollars on the table if you’re not ready for mobile betting.

•                In-game and live betting. The days are over of games going “off the board,” live betting gives your players the option of taking action while the game is being played and it can be a huge money-maker for your book. 

•                Virtual and live casino betting. Your players expect the full package, which means that along with sports betting you’ll need to offer traditional online casino games such as video poker and live casino betting on games such as blackjack and roulette.

•                Horse betting. Many bookies neglect the horses, but it can make some big-time money. Sportsbooks collect a big chunk of every dollar bet on horses, as much as 18%, whereas the hold for sports betting is around 4.5 percent!

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