Being a Bookie Can be Rewarding | Find the Right Tools
The bookies world has changed drastically over the last twenty years. There once was a day when being a bookie was thought of as something that was kept secret, or even thought of as illegal activity. Thanks to the recent US Supreme Court ruling that struck down an archaic law saying that sports gambling was not legal in any state other than Nevada; thanks to that action taken, we can now breathe easy.
The IRS will not come knocking, the gambling police are not on their way to strike down our operation. They never were and that’s the fact of the matter. Many folks had the idea that that “big brother” was hunting us down but this was an overhyped misnomer that Vegas wanted us all to believe. There simply isn’t a better time than now to become a bookie or expand on the existing business that you already operate.
A Bookies Plan to Live by:
- A great support system. Bookies are often the type of folks with an entrepreneurial spirit, bookies are “go-getters” and they want to do it alone; big mistake! Find help, find quality, affordable help, and a support system that works.
- An accounting process. This is an absolute must. If you want to have any success, on any level, then you must not cut corners in the accounting process. You certainly do not have to be an accountant yourself, but you must either have an accountant that you trust or find an online system that works for your bookie business.
- An easy, online wagering system, for your players. This is an even bigger must than the previous two. This is your bread and butter and the last thing you need is for your players to be frustrated, or to get irritated in any way with the wagering process that you have offered them. Make sure that what you have is super reliable, and super user-friendly. Often, the term user-friendly is overused, but not in this case. Make sure that what you have is easy. If you do not have easy, your players will find where the easy is!
- An easy way to accept money. You want your players to play and the only way they are going to play is if they can get the money in. Make sure this process is smooth and hassle free.
- A “settle up plan”. You must establish this with every client that you have. Are you going to have their winnings available immediately after the event is graded or will you choose a “settle up day”? Establish this out of the gate with a new client and they will respect you and return to you. They want paid and don’t be surprised if they come calling two minutes after the game. Have a plan.
- You must have a grading system. The last thing you want to do is grade bet slips. If you have any kind of volume of players, this is especially essential. There are many big events and if you are stuck grading bet slips by hand, you could be stuck until 5:00 am the next morning. Find the right tools and the right software to get the job done.
How Can all the Above Be Accomplished?
No matter what kind of bookie that you are and no matter how large or how small the operation, you are a bookie and you want to make money at this. This may be a hobby and yes, hobbies are expensive but if you want to make money then you will assemble all of the right tools around you in order to be successful.
- Find Bookie Software that takes care of the accounting process, the bet slip grading, and money management.
- Look to a Pay Per Head provider. A Pay Per Head (PPH) is a great way to go and a real time, and money saver. They offer a full service, turnkey operation that literally does everything for you. From payouts, to making bets, to cash flow numbers and everything in-between. Do yourself a favor, better yet, do your bottom line a favor and find a PPH that works for you.
The Sportsbook business is a lot of fun if you are winning money and have plenty of cross-action. You must get the players and in order to get the players you must have the time to find them. Without the proper supports system, you will always be running around chasing your own tail. Get out of the old and into the new with a fantastic Pay Per Head. They are highly affordable, and you will see an immediate difference in revenue.