How to Be a Bookie With No Experience in Sports Betting
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Bookies have been around for hundreds of years, but today's bookies are much different than those of the past. It was common to see bookies standing nearby sporting events, taking bets from spectators.
With the flood of regulated sportsbooks in the USA since the Supreme Court overturned sports betting prohibition, gamblers are exposed day in and day out to commercials from the likes of DraftKings, FanDuel and BetMGM.
These companies promote bet types - including live in-play - that old school bookies could only dream of offering. There was no such thing as a pay per head software model as recently as 15 years ago. Those that would emerge in the early days would charge an arm and a leg as they had the industry cornered. We at Gambling911 would get cussed out for promoting companies offering their platforms at a lower price while improving on quality.
Today, most bookies conduct their business online through these websites. Really they have little choice. While the way of the business has changed, being a bookie still requires the same skills that were needed in the past. If you're interested in becoming one, we'll provide you with a variety of bookie tips for beginners.
Read on to learn everything you need to know about how to be a bookie!
What Is a Bookie?
A bookie is someone that handles the gambling process when it comes to sporting events. They're the ones that set up bets, payout winnings and adjust the odds. They usually make money by charging fees for their services.
In the past, being a bookie was risky because there were many laws prohibiting sports gambling. However, several states are legalizing it after the Supreme Court ruled that states can regulate sports bets.
This has allowed a plethora of people to become a bookmaker themselves. The problem is that most people aren't sure of what being a bookie is like so they're unaware of how to become one.
Running an Online Sportsbook
It was common for bookies in the past to host their services using offshore casinos. These were accessible by anyone, and this provided a loophole around the previous laws. These online sportsbooks were virtually impossible to regulate because the transactions never took place in the US, money was just converted.
Running a sportsbook of your own will mean having to learn how to start a bookie business. We'll go over a few of the most common options people use for their gambling businesses:
Pay Per Head (PPH) Services
Pay per head services are those in which clients pay fees to place bets. This allows bookies to earn money and it gives clients a sense of security because bookies typically provide customer service. For anyone new to the sports gambling business, PPH services are one of the easiest ways to get started.
Offshore Sportsbooks
Previously mentioned, offshore sportsbooks give bookies a way to operate without technically breaking the law. These businesses are registered in countries that have little to no gambling restrictions. They'll then take clients from around the world.
Licensed Sportsbooks
Unlike offshore sportsbooks, licensed sportsbooks are those that are completely legal in the US. One of the most popular states for these is Nevada, which was previously the only legal state for sports gambling.
The problem with licensed sportsbooks is that they're restricted to those that live in the state. So if you were based in Nevada, you wouldn't be able to accept clients from another state. This isn't the best option for new bookies, but it provides a safety net.
Gaining Experience
Becoming a bookie isn't as simple as starting a business and accepting clients. You'll need to understand how the gambling industry works, what drives people to gamble, and how to run a business. You don't have to enjoy gambling to become a bookie, you just need a wealth of knowledge about it.
When you're considering becoming one, you'll have to keep in mind that you're a business owner before anything else. Even if you have a ton of gambling knowledge, you'll need to know how to operate a business.
Learn About Sports Betting
It's much easier to become a bookie when you understand how sports betting works because you can build your business around it. People bet on sports for a variety of reasons, all with the intent of winning money. However, people often take different approaches to it.
Some people bet on teams because they like them whereas others bet on teams because they're good. Any major event will draw a ton of attention, meaning there's more money to be won. Start studying up on the largest sports, such as soccer, basketball, and tennis to see what their events are like.
Find Clients
Finding clients will be difficult for anyone that's starting. This is best done by going to people you know and seeing if they'll bet with your service. As you start accepting more bets, you'll earn more money and clients through referrals.
Keep Records
You must keep records of every transaction, client, and sport that you're accepting bets for. Because there's a lot of risks involved in sports gambling, you can't afford to forget something or lose track of your money.
Most bookies will keep physical records of transactions, such as a receipt. While these are a great option, you should also use software for betting that keeps track of everything. Keeping digital records will let you access them from anywhere, preventing you from losing info or not having it on hand.
Learn How to Be a Bookie with Our Beginner's Guide
Being a bookie agent is all about having knowledge about gambling and knowing what it takes to run a business. After reading this, you'll have the basics of how to be a bookie. We recommend you get started with our beginner's guide so that you can learn more about becoming one.
At www.AcePerHead.com, we provide aspiring bookies with the tools they need to successfully run their businesses. Websites, programs, security, you name it and we've got it.
Give us a call at (800) 909-5193 to learn more about our services.
More Pay Per Head Tips:
- SPORTS BETTING SOFTWARE
- WHAT IS PAY PER HEAD?
- BEST SPORTSBOOK SOFTWARE
- UNDERSTANDING SPORTS BETTING
- STARTING A BOOKIE SERVICE
- 7 PERSONALITY TRAITS YOU NEED TO BECOME A BOOKIE
- HOW PROFITABLE IS A SPORTSBOOK?
- HOW TO MAKE MONEY ONLINE AS A BOOKIE
- SPORTS BETTING PLATFORM
- REAL BOOKIES SITE
- HOW DOES SPORTSBOOK WORK?
- REENGINEERING ONLINE BUSINESSES
