Bookmaking for Dummies in Wake of Supreme Court Decision
Even dummies can be bookmakers, especially now that the U.S. Supreme Court has ruled sports betting legal in all 50 states just as long as legislators in those states pass individual laws and regulations allowing such activity.
Let's face it, the second oldest profession in the world will still be frowned upon by the big boys (aka CASINO COMPANIES). Still, Monday's decision makes the industry that much less murky.
Already, local independent bookies have advanced in recent years by conducting the brunt of their business offshore (i.e. the wire rooms, 24/7 customer support, bet placement, etc..). Even money transactions are starting to take place via digital currency as opposed to cash on hand. This is all done through a Pay Per Head company that provides support staff and software in addition to a number of products like LIVE IN-PLAY WAGERING and live dealer casinos.
From managing to marketing and all of the other fiddly bits, the world of bookmaking can be overwhelming. However, all you need is a little bit of knowledge, some seed money and the will to succeed, our friends at PricePerPlayer.com advise.
They suggest these important steps:
FINDING THE RIGHT PRODUCTS AND SERVICES
Unless you intend to hang out at a street corner with pen and paper you will need a bookie website. The website will be where your bettors will place their bets and where you will keep track of the bets. In addition, your bookie website will also let you manage and analyze all of your players to maximize your profits. This is all done through the Pay Per Head for as little as $7 per customer (per head) per week. A customer typically costs several times this amount without the use of a PPH service due to the high overhead of running a wire room and paying employees.
USE OF THE BOOKIE PAY PER HEAD SOLUTION
A bookie Pay Per Head provides you and your players a complete sportsbook solution without breaking the bank. This is because a Bookie PPH service gives you a full sportsbook software and website for only a few dollars.
For example, by using PricePerPlayer.com, the best sportsbook pay per head provider you only pay $5 per player every week. In exchange, PricePerPlayer.com will give you and your players the following services:
WHAT YOU GET:
- Easy to use player management system
- Set player limits and access
- Create and Edit your players
- Daily, Weekly and Monthly Player figures
- Intuitive and reliable reports
- And much more
WHAT YOUR PLAYERS GET:
- sports betting
- Live Betting
- horse racing
- digital casino
- live casino
- telephone service
THE INVESTMENT AND INITIAL CAPITAL NEEDED
Since you will be using a Bookie Pay Per Head provider, the initial cost of being a bookie will be small. In addition, you will be able to control payouts because you will be the one setting wagering limits for your players.
Thus, consider your savings, investments and salable assets and you will see that you probably have enough to get started. If done carefully, you can be a bookie with as little as $500 if you only take small bets.
As your bookie business grows and becomes more successful, than you may want to consider expanding by getting an investor.
CONCLUSION
An individual really has to be totally reckless (or just plain lazy) to fail at running a bookmaking business when using a Pay Per Head provider considering that the PPH does most of the work. Your job is to primarily get players, retain them and ensure they are happy. You still have full control of your customers and can change providers in as little as an hour's time if need be (just be advised not to do so in the middle of busy seasons like football).
- Aaron Goldstein, Gambling911.com
