5 Reasons on Becoming a Sports Bookmaker
Sports betting is an exciting industry, along with being a profitable one. In 2019, the industry was valued at $85 billion.
In North America, it is becoming legal in more and more places. Thus, a market is needed to fulfill that demand, and it is an opportunity for you to get a slice of that $85 billion pie.
How do you do that? By becoming a sports bookmaker.
If you are reading this, you have probably bet on sports before and have seen the industry get more and more mainstream attention. You may be knowledgeable about sports and realize there is an opportunity to make money from it on the other side.
But, maybe you are not 100 percent convinced that being a bookmaker is the right move for you.
No worries, we will guide you through it. Here are five of the best reasons to become a sports bookmaker.
1. Work Remotely
In the pandemic era, this has become more and more of an asset to maintain social distance, get work done virtually and protect you and your family’s health. As of 2021, 41 percent of Americans work remotely full-time.
So, you would certainly not be alone, and it is becoming a more and more accepted and desired practice. Running a sportsbook would allow you to do your job from anywhere that had wifi and that betting was legal.
Of course, this is only in certain states at the moment, but more and more states are starting to legalize sports betting, so your options should only increase as time goes on.
Working remotely can be great depending on your life situation as well. Doing it this way can still allow you to have your dreams come true while fulfilling your daily responsibilities.
Are you caring for a sick relative or young child? All you need is a laptop that connects to the internet, and then you can be more hands-on with that while setting up your sportsbook.
Or, you could be a younger kid that is looking for a side hustle while trying to get your college degree. No worries, a sportsbook can be a great option to start from college.
Instead of potentially driving off-campus to a job to help pay for tuition, you can do it from your dorm room as long as you are in a state that legalized sports betting.
So, working remotely can be the perk that you need to not give yourself any more excuses about starting a sportsbook.
2. No Resume Required
Another positive about running a sportsbook is that you do not need to have a strong resume in order to get started. In fact, you don’t need ANY resume to do this.
You just need to have the will, confidence, and some startup cash. Going back to the college scenario, this is another big perk to do at this stage of your life.
If you are on the younger side, then you very likely do not have a lot or any experience in the sports and/or gambling industries. More than likely, you are only going to be qualified for minimum wage jobs at lower-level positions in a company for regular employment.
A sportsbook gives you a chance to jump outside of that bubble. Instead of being a cashier at McDonald’s for $8 an hour, you can do something that you are passionate about, make a lot more money, AND be your own boss.
Also, in college, a lot of students do unpaid internships to break into their industry. Here, that would not be necessary, and you can PAY YOURSELF for the work that you put in, instead of hoping that your free labor will actually lead to a job after you are done.
Whether you are young and inexperienced, or even older and looking for a new start, take advantage of an opportunity that you can get doing something you like without having an extensive resume and hours of unpaid labor.
3. No Technical Skills Required
As sports betting shifts more and more online, one reason that you may be hesitant to start your own sports betting platform is that you may not feel confident in your technical skills to get it up and running.
Well, what if we were to tell you that you have the option of outsourcing all of your technological responsibilities? That is where a pay per head system comes in.
This system allows you to assign another company the task of building your website, create the graphic design, run your software, and have secure hardware in order to keep your sportsbook operational. It even allows that company to handle customer support, which is a 24/7 perk.
The catch is that for this service, you will be charged $10 “per head”. This means that for every player that bets on your platform, you will have to pay this company $10 per player in order to keep it operational.
However, the perk to that is that the pay per head service will help drive new bettors to your platform in the first place. Also, not only will you have that burden off of your back, but now you will have a team behind you instead of trying to do everything all on your own.
Not everyone is blessed with the ability to code. Not everyone knows what the best software to use when trying to have game odds change live.
Handing off this responsibility can clear a major hurdle for you and might be the difference between diving into this head first or staying on the sidelines.
4. Growing Industry
Back in the day, the sports betting industry used to be exclusively in Nevada in the US, at least on the legal side of things. For the rest of the country, they had to rely on a local bookie, usually, one that was connected to some “wise guys” and may break your legs if you did not pay what you owed.
Essentially, outside of Nevada, the industry was very much local and underground in the United States. Now, you see sports betting discussed at length on well-respected sports channels, even having shows dedicated to odds and gambling tips.
With more mainstream exposure, legality, and mobile betting options, it is easier than ever to gamble on sports. The numbers reflect that too, as the revenue is getting larger and larger by the year, even by the month.
Take New Jersey for example. In 2019, the state made $4.58 billion from sports betting. In 2020, that number increased to $6 billion.
Even by the month, the revenue was growing. In January of 2020, New Jersey took in $53.6 million in revenue. By December of 2020, that revenue went up to $66.4 million in a month.
So, as you can see, the numbers are heading in the right direction. Also, more and more areas have either just legalized, or are in the process of legalizing sports betting.
One notable case is Canada trying to legalize single-game betting, instead of being limited to parlays. So, by starting a sportsbook, you are latching onto an industry that only continues to grow.
5. The House Always Wins
There is a famous saying when referring to casinos that “the house always wins.” The business of the casino here is what is referred to as “the house.”
It basically means that in the long run, a typical bettor will lose more money than they make if they play against the house long enough. This holds true for sports betting as well.
As a bookie, even if you have a sharp sports bettor placing bets in your book, it will still be the exception rather than the rule, and even then, they will not be ahead by much. That is because when it comes to professional sports bettors, having a 55 percent win rate in bets means you are doing very well.
You get to stack the deck a little more in your favor too. See, a typical bettor needs to win over 52 percent of their bets just to break even.
Why is this? Because as the bookie, you get to put a little juice on bets for providing the platform for those bettors to place those bets in the first place.
For example, evenly matched teams in a game can both have -110 odds on their side of the bet in that game. If the betting is relatively even, that means that you are getting 10 percent of the action no matter what side wins.
Only professional bettors will even come close to breaking even. Most novice bettors will make square bets and lose more money than they make in the long run.
Become a Sports Bookmaker
These are just some of the highlights of being a sports bookmaker. Now, it is up to you to get started. Are you ready?
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