Starting a Bookie Service
If you are looking to start a bookie service then you will need two important things, which would be players and a website to have them bet on.
The good thing is this is very easy to do because there is an entire industry that caters to people that want to book action, which is called the pay per head industry.
The pay per head industry provides bookies with a fully inclusive website where they post and update thousands of sports betting odds for players to bet on each and every day. These companies manage all the lines up to the second and then grade everything as soon as each game finishes. Then everything gets automatically updated in regards to the balance in both the players’ account and the bookie’s agent account.
You as the bookie do not actually need to know any of the technical aspects of bookmaking such as how lines move or get calculated, because that will all be handled directly by the price per head provider. However, it is important to choose a service that is actually good and worth the money because being a bookie can be an extremely lucrative business.
One of the best pay per head sportsbook services in the current market is www.AcePerHead.com and they have some of the sharpest lines in the industry. Their average hold percentage is running at 14% per week compared to the industry average of 5% per week. This basically just means that because of the sharper lines and a huge amount of betting options that they have, bookies that use their service make more money than using another pay per head provider.
In addition, Ace Per Head puts up thousands of betting options each day on sports from all around the world. This is important because the more betting options you can offer to your players then the more they will bet in terms of volume. The more volume they bet will just lead to the players losing more money in the long term. Also Ace has a premium live option that has a live in-game betting option for all sports and around 50 to 70 live betting options per game. This feature will also just increase players betting volumes and thus increase how much money they will lose each week.
Lastly, you as the bookie will need to acquire players, but this can easily be done by reaching out to friends, family, schoolmates, coworkers, and social media friends. You can also offer people a small free play that they can use to make a bet where they will have no chance of losing.
For example, you can give someone a small $25 free play, which they can then use on the website to make a wager. If they win the wager then the free play amount will disappear and they will be credited to their balance for the winning amount. If they lose the wager the free play amount will also disappear, however, no amount will be deducted from their current balance. So players have no way to lose money and it just gives them a chance to get familiar with the site and hooked into the thrill of wagering on a sporting event.
The Ultimate Guide for How to Start a Bookie Service
Here’s your sign that it’s time to get into the world of sports bettering. This ultimate guide for how to start a bookie service will help you.
There are many different professions in the world of sports betting, and who wouldn’t want to get involved in one?
After all, sports betting is a fast-paced and exciting industry where you’re constantly on your toes each day.
One of the most profitable professions in the world of sports betting is running bookie services. That’s because bookies are the keeper of the keys when it comes to handling monetary transactions.
If you’re interested in learning how to start a bookie service, however, you can’t simply dive in and start running transactions. You’ll need to make sure that you fully understand the rules and regulations surrounding this profession.
Let’s take a look at how to be a bookie—and a good one at that.
Understanding Bookie Services
Before we dive into how to become a bookie, let’s talk about what a bookie actually is.
A bookie, or a bookmaker, is someone that manages sports betting and other betting events by collecting the bets and distributing payments. Typically, bookmakers run their own operation but they can also be paid by an organization.
Before they take bets on any sports event, the bookie will determine the odds of each possible bet in the race or the game.
For instance, if the 69ers and the Eagles were going to be playing a game against each other, the bookmaker would set the odds that each team would be the winner. This is usually determined by which team is the most favored in that game.
If the team that was supposed to win did end up winning, the bookie would have to pay out the amount of the bet for each dollar that was bet on that particular game. The payouts will come out of the bookmaker or the organization’s account.
However, if the betters lose, they forfeit their bets to the bookie or to the organization that the bookie works for.
Important Bookie Laws to Know About
When getting ready to start a bookie service, there are a few important legalities that you should be aware of.
While everything might be fun and games when it comes down to it, it’s still important to be aware of bookie laws that could affect your new business.
When it comes to being a bookie in the US, it’s important to understand how the legal system regarding bookmaking works. While some countries have nationwide ordinances, the United States allows each state to determine the rules and regulations surrounding bookmaking.
While this law makes it possible to be a bookmaker, it also can cause confusion depending on which state you reside in.
Originally, being a bookmaker isn’t permitted except in the state of Nevada. Much of this has to do with Las Vegas and the gambling industry in that particular city. However, today bookmaking is permitted in far more states.
The states where bookmaking is currently legal include:
- New Jersey
- West Virginia
- Rhode Island
While these are the states where bookmaking is completely permitted and where you won’t face repercussions for becoming a bookie, there are other states that have limited permissions surrounding this profession.
A few states within the US allow for bookmaking with limited permissions or are currently in the process of making this a legal practice. These states include:
- New York
- South Carolina
If you don’t live in one of these states, becoming a bookmaker could cause issues for you and in turn land you in legal trouble.
Before beginning to look into bookmaking, it’s important to know the laws of your particular state and to fully understand the repercussions of bookmaking in that area.
Terms to Help You Start a Bookie Service
Another critical aspect of running a successful bookmaking business is understanding industry terms. After all, you need to know what your clients are referring to with their bets!
When someone talks about action in the world of bookmaking, they’re referring to how much someone bets on a particular event.
The amount of action a person gives can vary depending on the game, the type of sport, and a variety of other factors.
Another common bookmaking term you might here is the term “added game”. An added game is a game that doesn’t take place at the anticipated time.
Often, added games are games or sports events that take place at a delayed or rescheduled date.
An arbitrage takes place when the same game or the same event is occurring but has two different betting prices attached to it.
As a bookmaker, it’s important to keep tabs on what your competition is using as the betting threshold so that you can earn more money from your particular clients.
A bankroll is a word used to describe how much money a particular better is willing to wager on a game.
As a bookmaker, you want to target players who have a higher bankroll and are therefore willing to bet more money on each game.
A beard might simply sound like a type of facial hair, but in sports betting this term has a completely different meaning altogether.
These players are people who don’t make their identity public. Usually, it’s to hide the fact that they are a betting “shark.”
In sports betting, chalk doesn’t refer to the material teachers use to write on the blackboard during class.
Chalk is a term that refers to the most popular team in sports betting. This is usually a team that has a winning streak or a strong reputation
Every now and then as a bookie, you may come across someone who engages in contrarian bidding.
This means that they choose a team that isn’t the most popular. For instance, they might choose the losing team rather than the team that has been winning.
A dime isn’t what it sounds like – in fact, this is a much higher amount than simply a ten-cent coin!
In sports betting, a dime is a bet of one thousand dollars on any event, game, or race that is taking place.
The dog is exactly the opposite of the chalk. If someone is betting on the dog, they are betting on the losing team.
This term comes from the popular term that someone is an “underdog.”
Similar to the idea of a dime, a dollar is a bet of exactly $100 on a single game or event.
A draw, sometimes called a push, happens when neither the bookie or the gambler wins the bet.
This usually happens in games involving multiple teams or in sports events that involve multiple games leading up to them.
Every now and then, you may allow players to make a bet in the middle of a game. Bets that are made in the middle of the second part of the game are called halftime bets.
Halftime bets have different prices and different odds than bets that are placed at the beginning of a sports game or event.
If someone is said to be hedging their bets, it typically means that they are betting on the opposition rather than on their favored tea.
Often, they will do this as well as placing a bet on their own team. This way, they will win some amount of money no matter what the outcome is.
Some people take the phrase “go big or go home” seriously. People who always place a large bet on a sporting event are called high rollers.
This term also applies to other forms of gambling and can be used in card games or other standard casino games.
The limit is the maximum bet that a bookie will let a person bet on a certain sports event.
Different events have different limits. As a bookie, it’s important to research the game before setting your limits.
Bookmaking the Safe, Fun, and Legal Way
When done legally and correctly, bookmaking is a highly enjoyable profession to get involved with.
You’re able to enjoy watching your favorite sporting events while still making easy money off everything that you do.
On top of that, bookmaking is a highly profitable business and is a great way of earning money in an enjoyable and sustainable manner.
If you’re interested in getting started in bookmaking, you’re in the right place. Our team is here to help guide you through the process of becoming a bookie the legal way.
Reach out to us and we’ll get you set up with pay per head bookie services that set you up for success.
So give AcePerHead.com a call today at 1-800-909-5193 to get set up with one of the best bookie services in the current market.