5 Steps To Breaking Into The Sportsbook Industry As An Online Bookie
April 23, 2018
It’s not easy to become an online bookie and run your own sportsbook
You must have 3 prerequisites:
- Be hardworking
- Know something about the sportsbook industry
5 Steps To Breaking Into The Sportsbook Industry
If you are determined, a hard worker, and do know something about the sportsbook industry, keep reading for 5 steps to take that will help you get through the sportsbook industry door.
1. Choose the right pay per head company
This is easily the most important aspect of running your own sportsbook. Forget what anybody else tells you, working with a pay per head company is necessary to creating a profitable sportsbook business.
Without the tools that the very best pay per head companies offer, there’s no way you will get ahead of your competition in the sportsbook industry.
Do this first. It doesn’t mean you must sign up right away. It means you must know what pay per head company you wish to partner with before moving on and creating your sportsbook business.
2. Brush up on necessary skills
There are multiple skills that you must have to run any successful business. The main skill is having some understanding of how businesses make profit.
That means brushing up on marketing skills, financial management skills, and, maybe not at first but eventually, crisis management skills.
You should also brush up on communication skills.
3. Make sure you’ve got small business owner funds
Small businesses understand that things don’t go smoothly 100% of the time. That’s why most small business owners build a reserve of cash that they can turn to should there be some sort of downturn.
Make sure you’ve got small business owner funds, meaning that in addition to having funds to operate and market your sportsbook business, you’ve built the reserve of cash you might need to turn to.
4. Don’t take just anyone on as a client
Sports bettors are great. There’s no doubt about that. However, you’re not running a pay up front business. There will be times when you must collect from clients.
That means you must ask clients to pay you money that they owe you.
What happens if a client refuses to pay?
In the sportsbook industry, pay per head agents screen clients as much as clients screen bookies. In fact, agents probably screen clients more than clients screen bookies.
5. Have a business growth plan
This is incredibly important. It’s a good idea to have a growth plan. Set up monetary targets for your sportsbook business.
Online bookie agents will find that things are more positive if there are targets. The reason is that the closer the agents get to the targets, the more positive the outlook.
Don’t skip this step.
If you’re looking to break through and hit the ground running as an online bookie agent, make sure you research which platform best suits your needs.
Also, be sure to check out what type of deals are out there at the time of your decision. It’ll be greatly beneficial if you can get some form of deal on a premium software.
For instance, PayPerHead.com is currently offering their Prime Package (their premium pay per head software) with up to a 35% credit cash back incentive.
This means you can have up to 35% of your initial deposit back into your sportsbook account. Which means you’ll start your own business with more money where it belongs—in your pocket.