Sports betting is now legal in almost half the United States, and industry experts predict the remaining states will soon follow. The sports gambling industry is big business and shows potential for unlimited growth as television networks and sports leagues get involved.
Are you a part of this exciting craze? If you are, you know how exciting a wager makes a game. You also understand that a gambler is on the wrong side.
The way to make money gambling is to take the bets.
Do you want to learn how to become a bookie? It’s easier than ever if you follow these five steps. Read on for a clear path to become a sports betting bookie.
1. Learn the Game
If you want to become a bookie, you have to know how to gamble on sports. Skilled players will come along and deplete your funds if you start writing tickets without deep knowledge of complex betting principles.
To put it another way, you wouldn’t open a restaurant without knowing how to cook. It’s not a matter of reading a book or two. It takes years of handicapping acumen to make sure your gambling lines are tight and that you’re not exposing yourself to risks.
Immerse Yourself in Sports
There’s no other method that will help you learn how to sports gamble. You have to learn the games, and you have to know them inside and out. Take notes on the games you watch and train your eyes to spot prevailing trends.
This process is akin to developing a sixth sense for sports watching. You’ll be able to feel momentum shifts and spot poor coaching strategies that are all a part of both handicapping games and reading them as they unfold.
Learn Sports Math
The sports betting game isn’t only about predicting what team will win the game and by how much. It’s a numbers game, and you have to know sports math and scoring structures to learn how to bet and handicap.
Key numbers are vital knowledge for both handicapping and betting. For example, the key numbers for NFL games are 3 and 7. What does that mean?
The most common margin of victory for NFL games is 3 points. The second most common victory margin is 7 points.
- NFL teams win by 3 points 15% of the time
- NFL teams win by 7 points 10% of the time
A quarter of all NFL games will have a margin of 3 or 7 points. When a book opens with a line of 2.5 or 6.5, the sportsbook wants you to take the favorite. They’re aware of how often teams win by 3 and 7, so usually, these numbers end up being a bookie mirage to entice the public to bet on a weak favorite.
Should enough action come in on the favorite, the book will move the number to 3 or 7. Once the spread reaches a key number, bookies are hesitant to move up from that number. They’ll adjust the juice rather than the line to avoid losing money from bettors who’ll play both sides.
2. Find the Right Bookie Platform
Legalized sports gambling opened up the online market in a way few industry experts predicted. 7.6 million people used an online betting platform to lay action on the most recent Super Bowl.
If you want to know how to become a sports betting bookie, you should know you have to conduct your business online. You have two options when starting your bookie business. You can build your website from scratch, or you can join an already established online bookie service.
Creating Your Book
When you build your own sports betting website from scratch, you have the distinct advantage of personal branding. You call all the shots on the layout, the payments, and the overall look. You also have the option of operating within a market independently of other sportsbooks or line services.
Though starting a bookmaking service from the ground up gives you a unique brand, it’s an expensive undertaking. The type of intricate website design you need will take months to complete, and if you’re not a technological wizard, you’ll have to pay a team of software engineers.
Enrolling in a Bookie Service
Most bookie platforms operate on the pay-per-head (PPH) model. That means you pay a set amount per player each month to enjoy some of the coolest features available to bookies.
White label bookie software solutions are the easiest way for you to become a bookie, and enrolling takes a matter of minutes. Sign up, and you’ll be able to take bets the same day!
Here are some of the other features PPH bookie software offers:
- Access to a line service that offers players a wide variety of sports
- Data encryption that keeps you and your players safe from bad internet actors
- Bookie data organization that tracks your money
- Real-time risk analysis that examines your book’s weak spots
- Multiple payment options and cryptocurrency
- 24/7 customer service for bookies and players alike
- Customization that lets a smart bookie adjust lines based on market factors
A PPH platform enables you to compete with the commercial sportsbooks in your market by providing online access to players. Gamblers aren’t interested in the old pencil, paper, and cash method of sports gambling. Signing up for one of these services is crucial for your success.
3. Raise Cash
Like any other business, your sportsbook will need start-up capital. You need the money to launch your website or PPH book, and you also need the money to pay out on the initial bets. Finding this money won’t be easy.
Unfortunately, banks and government organizations like the SBA won’t give you a low-interest loan to start your sportsbook. You’ll have to raise this cash by other means.
If you’re an experienced gambler with a large bankroll, you’ll be able to invest this money into your bookie business. You can also partner with other gamblers to pool money and start your book.
Another option is friends and family. Those folks who trust you can gift you the start-up cash in exchange for a silent partnership where their initial investment will net them a percentage of your profit.
4. Find Players
The success of your bookie business depends on how many people bet with you and how often. You make more money when you write more tickets. Most gamblers already use an online service, so your job post-launch is to go out and win players.
How do you make yourself known to online sports bettors?
Join a Social or Golf Club
When starting an independent sportsbook, you’ll rely on personal relationships for initial business. You have to find a way to increase your network and become the “guy” in the sentence “I know a guy.”
One of the best ways to do this is to join a social or golf club. You may think this means joining an exclusive country club with high membership fees, but there are plenty of member golf clubs or leagues that don’t aim for a high level of privacy. The course and the clubhouse are both great places to meet sports gamblers.
Recreational golfers love to gamble as they play, and that love of action can translate to your sportsbook.
Neighborhood bars are a great place to find players, but this strategy will take a while to pay off. Your goal is to establish yourself as a regular and build relationships with the other regulars.
If the bar has televisions, they will show a game, and it’s here where you can ply your trade and establish gambling relationships with other folks.
Don’t forget to tip your bartender. Local bars aren’t always friendly to those trying to conduct business within their establishment. If the bartender recognizes you as a steady source of income, you’ll receive more slack to operate.
Start a Gambling Blog
Sports gamblers are always searching for betting advice, and starting a sports betting blog is a great way to direct possible players to your book. Of course, you’re ultimately looking to make money, so it isn’t wise to give away all your picks.
A few nuggets of advice combined with captivating writing will help drive business.
5. Build Player Loyalty
The large commercial books have several clear advantages over independent bookies. Because they’re so big, they have the capital to entice players with bonuses and other loyalty rewards to keep them playing.
They have the money to boost odds, run specials, and manipulate the market in other ways.
One of the best independent bookie tips is to remember your advantage. You can interact with your players personally. You’re working in the gambling and customer service industry. You may never build your business to have as many players as a commercial book, but you can find a loyal customer base.
The best way to build this kind of loyalty is to always pay on time and treat your players with respect and professionalism.
How to Become a Bookie?
If you want to know how to become a bookie, sports and gambling knowledge is crucial. Combine that with enough start-up cash, customer service expertise, and a top-of-the-line PPH bookie platform, and you’ll write plenty of tickets year-round.
Do you need more gambling business news? Make sure to check out the rest of our page.