How to Become a Sports Bookmaker?
Did you know that the US sports betting market is worth between $60-$75 billion? This number makes becoming a sports bookmaker sound like a daunting process, but it also shows that doing so is a lucrative endeavor.
Here, we’re going to give you some tips on how to become a bookie and find success. Read on for some ideas on how you can enter into this large behemoth of industry and make more money than ever before.
Do Your Research
Before you can set up a bookie business, it’s important that you do a bit of research.
The first thing that you need to look into is what it takes to be a bookie. You’ll need to have specific personality traits if you want to make it in the world of sports betting. For example, if you’re unambitious and don’t feel the drive to constantly expand a business, you aren’t going to enjoy your job as a bookmaker.
Some other aspects of becoming a bookie include:
- The ability to problem-solve and tackle new challenges (the industry is always changing, so you need to adapt)
- Excellent time management skills (since you’ll be setting your own hours)
- Self-discipline (your job will be 100% remote)
- A passion for sports (almost all aspects of bookmaking deal with sports and sporting events)
- Top-notch communication skills (so that you can talk to clients)
- Transparency and honesty (to build a reputation)
- An interest in business and expansion (running a sportsbook = running a business)
- The drive to constantly achieve more than you previously did
If you fit the mold, you then can research what other bookies are doing to succeed.
Questions to Ask Yourself
While you very much are your own person who needs to make your own decisions, look into what other successful bookies are doing. Look into trends in the way that these agents operate. Ask yourself:
- Is there a specific aspect of sports betting businesses that people like to see?
- What sports and events do most people bet on?
- What does the current market look like?
- How do other bookies tailor their business to the current market?
- How do they handle changes in sporting seasons and bet volume?
- Are their websites designed in a consistent manner?
- What sorts of marketing strategies are they using?
This will give you some ideas on how you can begin setting up and operating your sportsbook effectively.
Set Business Goals
Operating a sportsbook is operating a business. When setting up your bookie business, it’s important that you keep this in mind.
You’ll need to treat it as a startup in the same way that you would treat an eCommerce shop. This primarily means setting business goals that encourage you to succeed.
To create an objective that pushes you towards success, you’ll need to use the SMART method. This means that goals should be:
- Specific (outline what a given objective entails)
- Measurable (make sure that your goals are quantifiable)
- Attainable (you need to be realistic)
- Relevant (goals need to actually pertain to sports betting)
- Time-based (you need to have deadlines and timeframes for meeting your objectives)
Once you have a goal that falls under the following criteria, consider it carefully. Make sure that you actually can attain it even though your sportsbook is just starting up. Since you haven’t set up your pay-per-head (PPH) website yet and don’t have personal experience in the market, you may not yet know what you’re getting into.
Regardless, your goal needs to be flexible. You’ll need to assess it often as you gain more knowledge of the market. It’s important that you give yourself room to adapt when necessary.
Create a Budget for Your Startup
Another business aspect of creating your sportsbook is setting a budget for its set-up. Do a deep dive into the funds that you have for your startup. Catalog every penny into a word document and add it up so you know precisely how much you have.
Once that’s done, you’ll need to refer to the previous research that you did. Ask yourself what expenses a sports betting business might have. Base this knowledge on the successful online sportsbooks that you previously looked into.
Some important expenses include:
- Web design and development
- Website management
- Customer service and support
- Management software for your bets, lines, and limits
- A business cell phone
- Digital marketing platforms and expenses
This may sound like a lot, but you’re in luck: a pay-per-head (PPH) online service can provide almost all of these things. These fully managed services not only help you develop and launch a custom online betting platform but also manage the website. Customer support and updates are also provided, and you don’t need a business phone because of PPH expert’s 24-hour call centers.
Register for PPH Services
At this point, you’ve done most of the preliminary work before launching your sportsbook. You have solid goals and have crunched the numbers to set a realistic budget. You know what services you need to pay for and that PPH experts can help you with them.
But what is PPH, exactly?
Pay per head software services are a type of online sports betting management platform. You pay Ace Per Head a scalable fee of around $10 per player that you sign on. In return, we manage your sportsbook, provide you with website updates, keep your information secure, and give both you and your clients 24/7 customer service.
Using PPH services is the initial step into making your conceptual gambling platform a reality. This is because we help you design and launch the website that you and your players will use to place and receive bets. This website can be made from one of our many templates or can be 100% custom-made.
Immediately, this takes your sportsbook from being a dream to being a reality.
Developing Your PPH Site
We then will link your site up with automatic score tracking technology so you don’t need to keep tabs on hundreds of sporting events at once. Similarly, our experts will perform automated updates to keep your website in top shape. This will continue to happen for as long as you work with us.
Keep in mind that PPH platforms are completely secure. You pay us in untraceable and anonymous bitcoin. Similarly, this is the method that your players should also be placing bets with.
We also never know your name or your players’ identities. You and your players will also remain completely anonymous to each other because everyone affiliated with Ace Per Head is assigned a random number. This number is used whenever we speak with you or a player in lieu of names.
This drastically reduces the possibility of hackers and malware gaining access to your (or your bettor’s) personal or financial information. Ultimately, it boosts your reputation and ensures that your bookie business is safe for players.
Market Your Bookie Business
Once your sportsbook is up and running, it’s time to keep your eye on the prize. After all, a successful bookie can make $50,000 to $100,000 per week. That’s over $2 million in a year!
To get enough bettors to make this happen, you’ll need to do a lot of marketing. Like any other business, it’s critical that you boost the visibility of your sportsbook. Doing so is a surefire way to make yourself known to sports betting enthusiasts and get players that want to work with you.
One great way to do this is by using social media. You should set up pages on Facebook and Twitter and keep them updated a few times a week. This will keep you in the minds of those who follow you, which makes them more likely to think about you around the time of major sporting events.
You can also target new bettors on social media by pinning and tagging Twitter posts or investing in Facebook ads. Set demographics to those who fall into certain high-income brackets or are in lucrative occupations. You also will want to target those who like sports-related pages or even those who follow other bookmaking services.
Become a Sports Bookmaker Today
Now that you know the basics of how to become a sports bookmaker, it’s time to get started. Sign up for your six-week free trial today.
When you do, Ace Per Head’s experts will help you to set up a web platform and grow your bookie business. We also will answer any remaining questions that you have about becoming a bookie and the online gambling market. Since we’re committed to helping you find success in the gambling industry, we look forward to hearing from you soon.