Business for a Bookie

January 31, 2022

If you are looking to book action on sports from people you know, then there is a very profitable business that you can take advantage of, which is becoming a local bookie. A bookie accepts bets on various sporting events and pays players when they win the wager and collects money when players lose the wager.

Being a bookie is now easier than ever because there are dedicated service providers that provide local bookies with an all-inclusive website and service that handles all the bookmaking aspects. These services are called pay-per-head services and provide a sportsbook website where they post thousands of betting options each day and then update all lines and odds up to the second. Then when each sporting event concludes they grade all wagers and all balances are automatically updated and calculated in both the player and agents’ accounts.

Being a Bookie is a Very Profitable Business

These services just charge a small flat fee of around $10 per active player per week, and that is only charged if the player has a graded wager that week, so if they don’t bet that week you don’t get charged for that player. In addition, a player can make 1 wager or a million wagers that week and it’s still the same flat fee for that player.

Then whatever each player wins or loses on the site, the payment is handled directly by the bookie, and the bookie gets to keep 100% of those profits from each player. Considering that players all lose over the long term, and players can easily lose hundreds to thousands of dollars betting per week, its obvious bookies can make a lot of money. With costs being extremely small at around $10 a player per week, profit margins for bookies are often well over 90% each week. Then the more players you have betting with you each week, then the more money you will end up earning each week.

Grow your Business with Word of Mouth

The best way to start growing your new bookie business is through the old-fashioned way of word of mouth, reaching out to all friends, family, coworkers, schoolmates, and social media friends, and seeing if they have any interest in gambling. Once you start asking people you know, you will be surprised by how many people do like to gamble in some form or another. Gambling has been around for ages, and there are literally numerous games to bet on each and every day of the year.

In addition, you can offer players a small free play to get them started so they can get that exciting thrill of betting on a game. This is just a free bet amount that the player can use to make a wager, with no risk of losing any money on that wager. If they lose they just end up losing the free play amount, and if they win, then the winnings are added to their overall balance in their account. It’s a great way to get the player engaged on the site and interested in gambling.