5 Facts You Should Know About Being a Bookie
There are a lot of misconceptions about bookmakers, I suppose this is true of almost every profession if you were to ask me what an investment banker does, I would probably quote some movie plot; but, I know most movie scripts are not accurate representations of reality.
These Factors Will Determine Your Success
Bookies have been getting a bad rep since forever, and I’m not saying there aren’t some shady characters out there but, for the most part, local bookies are just regular people who are trying to put food on the table for their families.
And this is particularly true of online bookies, some of the most honest and hardest working guys in this industry are small independent bookies trying to carve out a niche on the internet. With little resources and a lot of competition, becoming successful in this field is extremely hard.
There is no definitive list of steps to becoming a bookie, there is no magical formula, but there are some factors that improve the chances of success, if you are an aspiring bookmaker, then you need to read this.
Fact # 1
- Being a Bookie Requires Hard Work and Dedication
If you thought becoming an online bookie was as easy as setting up a webpage that requires little maintenance, and it just generates a few dollars a month in passive income, then you are barking up the wrong tree.
Those who have become successful in this industry, have had to put some serious effort and dedication to get to where they are. Sure, there are ways of making the journey easier like being a bookie agent with www.AcePerHead.com, but, even then you need to work to make your business grow.
Finding new clients may sound easy, but, you want profitable players, not those that make one small wager a week. You also want players that don’t have an unusually high winning percentage, having one or two of those can be a good thing as you can use their picks to offset your risk at some other sportsbook, but too many will eat at your profits.
The point I’m getting at is you can keep your day job while your business takes off, but, you need to dedicate quality time to this new side venture if you really want it to be successful.
Fact # 2
- Online Bookies Are Not Thugs
Well at least not all of them, I have the displeasure of knowing a few despicable human beings that just happen to be bookies.
Look this is not the 1920’s, there is no such thing as territories in the online sports gambling industry, people can bet from anywhere in the world. Sure, given that you need a local structure to pay and collect from your players means you will most likely know them personally, or at least know the sub-agent they play through, but, the idea of having a couple of thugs go around threatening people is ludicrous.
From personal experience I can tell you, the most successful online bookmakers are soft-spoken, well-mannered people, some are highly educated, some are high school dropouts, but, none are thugs or bullies. They are smart people who understand the value of keeping a level head in this business.
Fact # 3
- Playing it Safe, Doesn’t Cut It in This Business
If you are one of those people that has a hard time making decisions, especially while under the gun, then I’m going to come out and just say it, you have no business being a bookie.
People who are always afraid of taking risks, and making decisions are sure to fail in this ever-changing industry. Here the panorama changes every hour, and quick decisions need to be constantly made.
Now, don’t get me wrong, reckless agents don’t do well in the long run either, there needs to be a balance. Bookies who are willing to take calculated risks are those who genuinely become successful but learning how to spot the opportunities is a real art form, one that can be made easier when you have all the necessary information at hand.
That is one the most significant benefits of working with Ace Per Head.com, their agent console provides a concise easy to understand overview of your entire package and their reporting will you up to the minute, accurate information that will make it easier for you to make informed decisions.
Fact # 4
- Objectivity Goes a Long Way
This the first thing I tell anyone who shows interest in knowing the essential steps to becoming a bookie. You need to be objective, this means putting your personal feelings about your favorite team aside and keeping a realistic perspective on your players’ capacity to pay.
If I had a dollar for every time, a rookie bookmaker held a line and refused to heed to the advice of the professional line managers about how to move a line just because it involved their home team I would be a much wealthier person.
Your personal feelings about a team have nothing to do with running your business, you need to be objective in how you choose to post and manage your betting odds, my best advice is to entrust this part to the experts at AcePerHead.com, they know what they are doing better than anyone.
Being objective when it comes to your players is also vital if you want to last in this business. You should never let anyone over-extend themselves financially when it comes to sports betting. This hinders your chances of collecting from them when they have a losing streak, on the other hand just because someone has the money to bet $100,000 on a game doesn’t mean you should let them, you need to objective about your capability to pay them if they win, don’t be greedy.
- Successful Bookies Are Selective
In life, you need to pick your battles, and when you become an online bookmaker, you will realize you will be faced with plenty of battles, from players looking for more credit, slow-paying clients, and those always looking for new and exciting things to bet on.
One battle you should not be faced with, however, is with your pay per head service, they should be working with you not against you, and they should always be trying to improve their service and add more features to help you keep your players happy.
This is the one area where you can quickly see the differences between the run of the mill pay per heads and the real professionals. If you are looking for the best way to become a bookie, then do yourself a favor and register as an agent with Ace Per Head from the very start.