Do you want to start a bookie business? You have come to the right place, because this is your ultimate guide on starting your own bookmaking business using casino and sportsbook software. Once you start one, you will now be called a bookie agent.
Become a bookie agent now!
If you want to be one of the best bookie agents in the world of sports betting, you must have a drive to learn how bookies garner a big profit. Plus, know how to run a bookie business smoothly (hassle – free).
To be the (future) best bookie agent, you must follow the steps below:
Step 1: Read as much as books about the bookie business
Before starting a bookie business, you have to be well – rounded or well – read in that certain field you are eyeing for. You have to read as much as books about bookmaking business.
As a bookie agent, you must acquire and improve your skills such as bookie business management, sports betting, gaming (all casino games and pay per head poker included), the nooks and crannies of sports (include the previous and current statistics of teams, leagues, single sports and players), interpersonal skills and good bettor service.
Bookie business management
Do you want to learn how to start a gambling bookie business that will generate a big profit? Without a doubt, the answer is yes. To do so, you have to be a good manager aside from being the best sports bookie agent. To get the job done, you must be successful money – maker and a natural leader of sports betting agents.
Must love numbers
Remember the time when you are at school and is required to do your Math? If you never enjoyed working with numbers then the bookie business is not right for you. You will be dealing with numbers, numbers and a lot of numbers on this business.
The world of sports
Before starting a bookie business, you have to know each team, league, and player.
Focus on the top leagues and single players of sports betting. Learn more about the background of players from single sports (golf, tennis, table tennis, badminton and the like). Take a look at the statistics of their current and previous injuries.
Not only that, you must also search f0r related events that may change a player’s state of mind. For instance, a favorite key player reported to have lost a loved one hours or minutes before a game. This factor will definitely influence his work performance.
Speak the sports betting language
When starting a bookie business, you must learn how to talk their language, know the different types of sports bets, and how to wager bets on both sports and horse racing.
Add other games in your book
An innovative bookmaking business does not only offer sports betting services. They also have casino games and pay per head pokers in their book.
Have a PPH poker and casino portfolio of gamblers and players as well to generate more money.
Be a social bookie butterfly
Starting a bookie business also involves being a social bookie butterfly. Yes you must socialize with your bettors, if you are good at talking to people and making friends then you are on your way to being the best.
Maintain good customer service
Aside from being a social bookie butterfly, you must also maintain providing good customer service.
Once you have gain a good reputation in the sports betting world, just continue to provide good customer service to make your bettors happy.
Step 2: Get the funds
To keep a bookie business running, you have to get your funds to keep the business going. You can get the funds via your bank account, credit card, angel investors, friend and family members, and other types of payment methods out there.
Having some extra funds in your bank is the best way to start a bookie business. This will serve as an allowance in your business so that you will no longer pay for anybody in the future. Plus, the profits will go directly to your pocket!
The use of credit cards (and other types of credits) and angel investors mean that you will invest money out of your profits to pay your clients back. Or make a deal to pick an investor and make him your business partner.
A family member or friend can also loan the money you need and be a business partner as well.
Step 3: Have your bookie business registered and licensed
Starting a bookie business cannot escape legal issues. Majority of bookmaking businesses are registered offshore. When opening a bank account for your bookie business, it is very important that the category of business to be stated precisely. Otherwise issues and problems may arise anytime soon.
You may either choose to register for a single license for your online business; or register to multiple licenses covering every country that the business operates.
In countries where bookmaking business is legal, the company is officially licensed and recognized. As for online bookie business, it can be registered on the country within whose jurisdiction the business falls. On the other hand, offline bookie businesses the procedure is way more complex. This is because the license is required in every country where there is a subdivision of the business even if it is just a single booth in a mall.
Acquiring a bookie business license can be achieved after successfully submitting packs and packs of documents. The pack of documents depends on a certain country’s level of bureaucracy.
To run this type of errand in a foreign country, you must find or hire a person who knows the nook and cranny of the country’s legal procedures. As a bookie agent, it is important that you gain connections and strong relationships to the legal locals so they can manage the profitable arrangements for you.
Step 4: Sign up with a sports book software provider
Once you have acquired all the necessary knowledge and have enough funds to start (and run) a bookie business, you must sign up to a sports book software provider. This type of software offer bettors an exclusive offshore bookmaking business.
Once you already signed up, the software will show you a guide on how to become a sports bookie agent. Bookie agents will be granted unlimited access to pay per head service and wagering expert advices.
They will also teach the fundamentals of running a sports betting and gaming business and the value of working with a low-priced offshore bookie software operator. This offshore service is a vital part of your survival strategy to keep your bettors from leaving you to play with the largest online sports books.
Aside from that, there are several version of sportsbook software that covers offline and online outlets and private bookmaking clubs. These type of sports book software have in – app purchases that can be negotiated on a case to case basis.
Step 5: Aim for an independent bookie business
To start your own bookie business with minimal expenditure, take a readymade solution as a foundation and customize it with your desired functions.
With that being said, an independent bookmaker must have a wide range of functions for bettors and players, a variety of administrative tools, user – friendly reporting system, the possibility to implement updates, modifications, and innovations.
Step 6: Grow your portfolio of bettors and players
This is your final step to learn on how to start a bookie business. With everything (including the funds) in place, now is the time to start adding bettors and players to your bookmaking (and casino) portfolio.
When you are at this stage of your bookie business, you must be a good social bookie butterfly. But if you are not, do not worry, you can hire other sports betting agents that can get bettors and clients for you.