Becoming a Pay Per Head bookie is a great business opportunity that could become your perfect job. Starting an online sportsbook is a really good investment, if you have the resources and the will to do it.
There are lots of opportunities for new bookies to start these days, especially in online gambling. Considering how easy it is to start an online sportsbook and get it working, it has become a really excellent investment.
Today we will give you some important tips on how to succeed as a Pay Per Head bookie. These advices come from years of experience as online sportsbook bookmaker, and they will be useful for any kind of bookie.
Pay Per Head bookie tips
Before going directly into the tips, is important to know what a bookie is, and how to work as one. A bookie is the manager of a bookmaker; this is an establishment that arranges bets over a public event or game.
The bookmaker work is to set previous odds for both teams or results in the competition, and receive people’s bets. All of this while trying to keep the balance of winners and losers in the competition.
A bookmaker can also sometimes lend money to the bettor, changing the odds accordingly to that. At the end of every gamble, they also have to give rewards to winners, and collect its commission for losers.
It may seem easy, but there is a whole process involved to become a successful bookie, and actually have a profit. Here we have 5 good pieces of advices for beginners Pay Per Head bookies or people who want to get started.
Work hard and dedicate the time
Usually people tends to think a bookie is simply give the bettors odds and start collecting every bet. Actually running a sportsbook is hard work, although there are many tools to make the process easier.
Even so, a sportsbook is a very demanding business, not to mention you have to be careful. One mistake and you can be out of business very quickly, so a sportsbook needs to work neat, organized, and quick.
Please, don’t fall in the trap of thinking that having an online Pay Per Head sportsbook is just waiting for cash to rain. You could be disappointed and need to do the hard job when is probably too late.
This isn’t the 20s!
People usually also think that bookies are bad, menacing, and rough gangs that kill you if you don’t pay. Of course not, bookies are simply people who start a new business trying to feed their families like you and me.
Most of them are even highly professional and educated people, with great business management abilities. Nowadays, there are many laws and regulations around gambling, and everything is monitored.
Only by having a good security system will be enough to keep everything in order, you should not worry.
Incredibly, that there is still the belief that bookies are bullies, there are some questionable bookies, but just a few.
Handle the pressure
Running Pay Per Head sportsbooks is not a job for everyone, the bookie must have a special ability handling pressure. You have to know how to take fast and efficient decisions at the moment, and keep your mind cool.
Otherwise, you can make mistakes really quickly, and you can lose the hang of it very fast. The thing is, a bookie wins a lot of money, but the bookie can “lose” sometimes (the money always comes back to them).
If you are not a person who knows how to handle the pressure in a moment with low cash flow, you can lose it. If you don’t like taking risks and you like always being safe, probably being a bookie is not for you.
Know how to make decisions
Always, you have to know how to put your feelings aside and take decisions realistically. Meaning, you have to know and recognize the player’s strength and capabilities.
Also, the fact that a player has the money to place a 100.000$ bet it doesn’t mean you have to let him. You first need to make sure that you will have enough money to pay that player in case he wins.
Take care of your clients, they are your capital, not simply the people you collect money from. This will take us to the next point, how you should attract, treat, and manage clients in your Pay Per Head sportsbook.
How to treat customers as a Pay Per Head bookie?
Attracting clients to your business may seem like an easy task, but it is not as easy as you might think. You will have to invest on a marketing strategy on social media, and other ways to attract clients.
Many online sportsbooks have a great deal of different ways, not only to attract, but to make the client stay in the site. Try to offer them as many comfortabilities as you possibly can, some sites even offer free tokens for a few gambles!
The three must important factors on a Pay Per Head site are security, payments, and customer support. If you have those three, your clients will automatically prefer you over thousands of sites.
Run your sportsbook with a layoff account
Another good an important rule to know is how to use your layoff account, which you will use to balance offset losses. In a situation where a bet is too dangerous for the sportsbook, you use a layoff account, so you eliminate such risks.
You should know that a layoff account is a tool that you use for the company, not an individual use account. Normally, the layoff account will come included in your Pay Per Head bookie software.
It is a minimum tool, but it has great importance, so you should learn how to properly learn how to use it.