If you’re looking for information on how to become a bookie, then you’ve come to the right place. The question that you have to ask yourself is – are you ready to become a bookie?
If you read this entire post, you will be armed with the basic information that you need to start a bookie business.
The usual scenario with a gambling business is that you would have to have the infrastructure in place to make sure that your players would have the best possible experience and that would cost a fortune. With this business model you only have to pay for each active player and everything is included in that price.
Becoming a bookie is something that many people consider, but few people actually end up doing, and even fewer actually end up doing it well. Let’s face it, being a bookie can be easy money, but it isn’t guaranteed to be easy money. There are plenty of things that can go wrong when you are running your own book, but it’s our job to get you prepared
If you want to continue to actually start building your business, there are only a few things that you really need. While you can get serious
Bankroll
One of the big reasons that most people fail at being a bookie is because they don’t start out with a solid bankroll. This causes big problems for one key reason even though you need to pay out your winning clients immediately, clients can drag their feet on paying you back right away. It’s not fair and it’s not right, but it happens, and you need to be ready for it.
We recommend that you look at the total amount of action you estimate taking per week and make sure that you have at least four weeks of cash available to make payments. You should never assume that someone who owes you money is going to pay you on time, and if you don’t have cash then you can’t take action, so be careful when building your bankroll.
Clients
Most people who look toward becoming a bookie have spent a lot of time around other people that gamble, so the best source for your initial client base are the people that you know who are already betting on the sport(s) that you want to take action on. This core group will not only be able to give you decent action, but they will also be more forgiving if you end up being forced to delay your payouts due to cashflow issues.
If you want to look outside your current circle, another way to find people to serve as your initial client base is just to spend more time around places where people go to watch the sports that they are betting on. If you look around the bars in your city or town and you spend some time scouting them out, you will be able to quickly narrow down who is interested on the game and who is just watching for fun. Look for people who:
Know the odds of games that they shouldn’t even be following
Have esoteric information about different players or teams that are established prop bets. Are watching multiple games at once and are emotionally invested in the outcomes of all of them.
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