Have you been tossing around the idea of becoming a bookie? If you’re already someone who spends your fair share of time watching sports, this could potentially be the perfect career opportunity for you.
Before you start trying to attempt to become a bookie, though, you’re going to need to know what steps you’ll have to take to do it. It’ll be very important for you to work your way through the process of becoming a professional bookie to put yourself in a position to be profitable.
With sports betting being legalized in so many states these days, it’s definitely a good time to become a bookie. But you should still make sure that you take the right approach to doing it.
Here is everything you need to know about becoming a bookie.
Start by Making Sure You Have the Skills to Work as a Bookie
Becoming a bookie isn’t going to be the best career opportunity for everyone. You are going to need to be equipped with certain skills in order to carve out a career as a bookie.
You don’t necessarily need to have a master’s degree hanging on your wall to turn a profit as a bookie. You also don’t need to know the rule for every single sport imaginable inside and out.
But getting into this business is going to call for you to have the skills that it will take to keep everything straight as a bookie. You will need to be:
- Great with numbers and able to add and subtract very quickly
- Organized enough to keep track of all your clients’ wins and losses
- Comfortable handling large amounts of money
- Proficient when it comes to marketing yourself as a bookie to new clients
If you don’t feel as though you have the skills that it will take to become a bookie, you probably won’t want to do it in the first place. It’s not a job that just anyone can do.
See What Kind of Competition You Might Face From Other Local Bookies
If you were interested in opening up a restaurant, a clothing store, or some other kind of business, you wouldn’t do it without looking around at the competition that will exist first. This is a great way to see where a new business will fit in when it opens up.
With this in mind, you shouldn’t start the process of becoming a bookie without seeing what kind of competition you’re going to face from other bookies in your area. The last thing that you want to do is become a bookie only to realize that there are already too many others bookies operating in your same space.
A little bit of competition from other bookies is OK. It’ll keep you all on your toes and force you to put your best foot forward when you set up your bookmaking operation.
But you might want to think twice about becoming a bookie at this particular time if the local sports gambling market is already flooded. You’re going to put yourself behind the 8-ball if you become a bookie in this kind of climate.
Lock Down the Funding You’ll Need to Become a Bookie
In a perfect world, you’ll make money each and every week when you become a bookie. But there are, of course, going to be times when your clients will get the best of you, in which case you’ll need to be prepared to pay all of them out.
As a result, you’re going to need to lock down the funding that it’ll take to bankroll your bookie business. You should set aside some money that is specifically for operating your business right from the start.
If people hear that you’re someone who is unable to pay those who win while placing sports bets through you, it isn’t going to bode well for your business. In fact, you could lose all your clients at once if they don’t have confidence in your ability to pay them.
For this reason, you shouldn’t ever start a bookmaking business without the right amount of funding. You’ll be setting yourself up to fail if you do.
Set Yourself Up With the Necessary Tools to Serve as a Bookie
For a long time, bookies didn’t really need too many tools to run their businesses. As long as they had access to a phone, a pad of paper, a newspaper with sports betting lines in it, and a calculator, they had everything they would need to keep their clients happy.
But these days, this is no longer the case! If you’re going to run a successful bookie business, you’re going to need a website that you can use to take bets from your clients. People are going to expect you to have the technological tools that it will take for them to get their bets in.
This might scare you off from becoming a bookie, especially if you’re not someone who is comfortable implementing new forms of technology. But you’ll be happy to hear that there are pay-per-head services that can give you the chance to extend the latest sports gambling tech to your clients.
Best of all, you won’t be responsible for setting up any of this tech yourself, and you also won’t have to worry about maintaining it over time. Your pay-per-head service will handle everything so that all that you have to do is sit back and watch the money from your clients roll in.
Figure Out How You’ll Convince Clients to Let You Be Their Bookie
As we alluded to earlier, you’re going to need to know how to market your bookmaking services to people to attract new clients to your bookie business. No matter how good of a bookie you might be, it won’t matter if you don’t have the skills it will take to convince new clients to sign up for an account with you.
You might be able to get away with using a lot of the same marketing techniques that other small businesses use nowadays. But you might also have to think outside the box and rely on word-of-mouth marketing to build your bookie business.
It’s going to be up to you to spread the word about how you’ve become a bookie. You should start small with just a few clients and then grow your bookie business from there.
Make It Your Mission to Be the Best Bookie You Can Be for Your Clients
In this day and age, there are so many places where people can turn to make sports bets. It’s why you will really have to go above and beyond to both attract clients and, more importantly, to keep them around.
It’ll be imperative that you provide your clients with the best customer service. You should be there to address any questions and concerns that they might have, and you should also make it very easy for them to get paid when they win the bets that they place through you.
If you can’t do these kinds of basic things, it’s going to lead to your bookie business crashing and burning before long. You should be ready to hit the ground running as far as setting your clients up with the best customer service is concerned.
Strive to Gradually Grow Your Bookie Business Over Time
After becoming a bookie, you might be tempted to try to grow your business quicker than you should. This could lead to you feeling very overwhelmed if you’re not careful.
Rather than trying to turn a small bookie business into a big one overnight, you should make it a point to set yourself up to grow gradually over the next few months and years. It’ll help you stay on top of your bookmaking operation and ensure that you don’t start delivering lackluster customer service to your clients.
Over time, you should be able to earn the trust of more and more clients. You should also be able to begin bringing in more and more money. It’ll make you glad that you decided to become a bookie in the first place.
Follow These Steps to Make Becoming a Bookie a Possibility for You
Becoming a bookie isn’t something that you’re going to be able to do in just a few days. You’ll have to spend some time laying the groundwork for your bookmaking operation before you officially launch it.
You should use all of the bookie tips provided to you here to make becoming a bookie a possibility for you. This bookie advice should get you off to a fantastic start and have you turning a profit in no time at all.
Would you like to read more articles on sports gambling so that you can see where your bookie business might fit in when you first start it up? Find them by browsing through everything else our blog has to offer.