Posts in category: Tips

Do you want to be successful and become a master bookie? It’s not an easy progress for such transition but it’s not an impossible task as many people believe. Keep reading this article and we are going to show you some tips to make your bookie career brighter with more profits.

Partner with the best Pay Per Head company

This is the first step and the most important part if you want to be a master bookie. You need the premium tools and experts to help your business by your side and that’s the reason you should choose Price Per Head.com. With the expertise of more than 20 years being in this industry and an excellent support team, we have helped thousands of online bookies create a successful business.

Promote actions

You need to promote actions as much as you can for the health of your sportsbook business. Actions like offering promoted parlays, changing betting lines, making the option for cryptocurrency payouts or collections, running wagering contests are some good examples to do in order to attract your clients.

Hire subagents

Once you have certain number of clients, you should start hiring subagents who can be trusted. It’s better to hire an expert who know something that you don’t in order to help the business grow more. For example: if you don’t know well about horse racing, then hiring an expert of this area to attract horseplayers and open up another big revenue stream.

Change your mindset

You should change the mindset from a small bookie to a self-owned sportsbook business CEO. Such mindset helps you to create a bigger vision and greater ambition for the business growth and makes you work harder. Besides, don’t forget to invest more time to work on marketing and promotions because both of them are needed for the preparation of being ready to become a master bookie.  

Be patient and don’t quit

No matter what kind of business is run, there is always a possible hard moment that could happen at any time. Be patient and understand everything takes time to achieve its goal and never quit. Soon, you will become the master bookie that you strive to be because you learned from the lessons and have made the business stronger.

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If you are considering to start a bookie business, this article will be very helpful and show you all the things you must know.

What is needed?

Basically, what is needed to run a new bookmaking business will be a website, some bankroll, players (who want to gamble with you) and a trustful Pay Per Head software.

Why Pay Per Head service is important?

Choosing a good Pay Per Head service like PricePerHead.com is important because we take care of all your business day to day operations such as setting up lines, placing the wagers, instantly grading games, providing 24/7 technical support, maintaining speedy network and so much more.

Pay Per Head solution provides all kinds of necessaries that you need to assist you on running a bookie business. And that’s exactly what Price Per Head can offer you with all our knowledge, more than 20 years of expertise and an excellent team to lend you a hand anytime.

Besides, partnering with a trustful Pay Per Head company like us can even reduce the happening of many unpredictable and unwanted situations which can occur in a bookmaking business. For instance: our experienced line managers can quickly help you balance out the wagers to minimize any possible loss.

You should carefully manage the bankroll

You don’t need to invest a big amount of money to start a bookie business but you need to carefully manage the bankroll. Although most gamblers will lose money in the long run, you still need to save some money to be able to pay your players in case they got lucky with some winning bets. Just imagine what if some of your players happen to be on a winning streak and you find yourself in an unfortunate situation of being unable to pay them on time? This can cost you a huge consequence and lose a lot of credits and even kiss the business goodbye.

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There is always a right way and wrong way to do things in all areas and same theory can be applied on all kinds of business. We are not saying that there is a magical way or perfect method which works for everyone. However, some frequent bad decisions can still become the main cause to ruin your dreams of being a successful bookie. Don’t worry! Here we would like to give you some tips to guide you through the right journey of being a successful bookie.

Have the necessary expertise

You don’t necessarily need a master degree in business major to be a great bookie. But some basic skills on gambling is needed in order to run your bookie business smoothly like below recommended：

• Math Skills:  It doesn’t mean that you need to be a math expert but don’t forget gambling is all about probabilities and numbers. You firstly should be able to understand them if you want to succeed.
• Time management: Time management is always a very important aspect for business because you have to prioritize tasks that show added value to your service. Besides, having the leading Pay Per Head company like Price Per Head by your side, you can get different kinds of reports and are able to save 2/3 of your time on managing your players’ accounts.
• Gambling rules: If you want to be a successful bookie, then you will need to learn the gambling rules. You don’t need to actually be an active gambler but you still need to dedicate time to understand this business. It’s highly important to learn how gamblers think, what they like or dislike and even the market trends for gambling industry.
• Proactively sell your service: Remember the critical factor of becoming a successful bookie in this industry is having players gambling with you. Therefore, you should proactively sell yourself and your service in order to expand the customers list.

Secure funding

Every business operation needs a funding to start with. Starting a sport betting business can’t miss a capital to back up either. You should prepare some money with you in case your players have luck to win the bets at the beginning because you can’t rely only on the money that your players deposited. In order to earn your customers’ trust, you need to pay them full and on time. This is how you earn your own reputation and get more players betting with you. On the contrary, your bookie business may go down in a matter of days if you can’t fulfill your duties as a bookie.

Choose the right Pay Per Head service

It is not easy for everyone to invest a big amount of money to open self-owned sportsbook. Besides, a sportsbook requires not only a lot of money but also physical office, employees, hardware and much more. Therefore, the best solution is partnering with the right Pay Per Head company just like Price Per Head, then you can have all the support you need such as experienced customer service, line managers, IT assistance, software platform…etc. The best part is you just need to pay a tiny fee weekly per each active player and then you can have all of these amazing services and features you need for the bookie business.

Carefully select your clients

You probably will meet all kinds of people which is inevitable because you firstly need players to start off the bookie business. However, you still need to carefully select the players and it’s better through the referrals of clients that you can trust to keep low profile.

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Bookie agents are people who settle bets on all kinds of sporting occasions for the gamblers. The ideal situation for bookies to make extra money is when the opposite team wins the bet that their players placed. However, we can honestly tell you that the good news here is that gamblers normally lose over the long term. Whatever players’ losses would become bookies’ profits or funds to use in order to grow the business. But how exactly bookies make money? Continue reading this article to know more details.

All depends on the Vig / Juice

There is always a vig or juice involved within all sport bets and normally it’s 10% from the betting amount. Which means if player wants to win $100, then he/she needs to risk $110 to win $100. Soon after, he / she will end up losing money because of all the paid juice lost from the losing bets.  

Increase betting limits

The other way to take advantage of the earned money from your players’ losing bets is to increase the maximum betting limits. Therefore, players can gamble bigger and even take more actions to wager with you.

Recruit more players

Remember the more players you got, more money you can make in the long run. This is why you should dedicate your time on recruiting new players in order to expand the business.

Use Pay Per Head service

Another key factor for a bookie to make money is using Pay Per Head service. Such service only charges the user a small fee per active player per week but you can receive a complete package in return. Learn why using Pay Per Head is the best solution and how it can become your best business partner. Besides, this weekly small investment is totally worth it because you no longer need to keep tracking hundreds of bets manually but you can easily find all the details and reports within the system. As a result, you will have more available time to get the better opportunity for expanding your business and also dedicate more time on the management.

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