by Bryan B.S.
01 Mar 18
In the entrepreneurship world is pretty common that rookies seek the advice of veterans, in fact, there are events and programs where a rookie entrepreneur can find and connect with a veteran to get mentoring. Unfortunately, that doesn’t exist in the gambling industry and many bookies on their first year on the business often said: “I wish someone told me that before” when they made a mistake or hit a bump.
To help those that still have doubts about entering the gambling business or are just starting, here the things you need to know:
The Pay Per Head Provider
The first big decision you have to make as a bookie is to choose the right pay per head provider, this is not an easy task and you need to think in the long term; how this provider will affect the way you manage and deliver your services to your bettors. Choose carefully or you may regret it in the future.
Bookie = Oddsmaker
A common mistake it to get confused about what a bookie does, first of all, pay per head bookies don’t deal with the creation of odds, betting lines or any other betting option. The staff of the Pay Per Head provider takes care of this tasks, leaving the bookie with the main job of attracting more and more bettors to the betting site.
Anyone can become a bookie these days, but the ones that successes are those that have a strong knowledge of gambling or sports. You can’t manage a business you don’t understand. So if you are planning to become a bookie, better get familiar with betting basics.
Know your Players
It’s a good idea that you know in deep your players since you are going to set credit and wager limits for them, you need to know their payment capacity, where to contact them to collect your money and their betting preferences.