A lot of people who are into sports, and who like sports betting, can cross over to become a bookmaker. By knowing the basics of sports betting, as well as knowing how sports leagues run (the NFL, NBA etc), you can easily learn how to be a bookie. Of course, this job is not for everyone. One must be willing to study and learn more, and be able to spend time working on their sportsbooks. This is, after all, a business like any other.
Becoming a bookie is not as hard as it seems. For one, it is not an expensive venture. Sure, you will need to fork money out since you will need to be able to guarantee payouts. But the actual overhead of your sportsbook can be reasonably affordable. This is possible because of bookie pay per head sportsbook providers. We’ll walk you through the process on how you can become a bookie.
How to Be a Bookie in 3 Easy Steps:
Know the Business. There are two main skill sets you need to be good at to become a good bookie. First, is to understand gambling, sports betting in particular. You need to study and learn the different types of wagers, from the most basic spread to exotics. Second, you need to know sports from the sports betting perspective. This means learning how things like venues, schedules, rosters and injuries can affect the outcomes of games and wagers. Once you know both of these, you will find it easy to run your own sportsbook.
Learn Line Management. As a bookie, your job is to take in wagers from players and pay them out if they win, and collect and keep the money if they lose. You earn primarily though the Vig, a fee of sorts, for processing the wager. But the main goal of a bookie is to balance the books. This means, as much as possible, you want an equal amount of wagers on both sides of a bet. Why? Because if one side is heavily bet on, and they win, you won’t have enough money from the losing bets to pay off the winning bets. This means you will need to pay them from your own pocket.
It will be a good bonus, of course, if you get more losing bets than winning bets, since you get to keep all winnings. But still, that is a very risky move. Learning how to balance your books, and manage your lines is key to the perfect balance. By knowing how and when to adjust your lines, you can balance the wagers as much as you can.
Use a Pay Per Head Service. A lot of bookies use online sportsbooks software to run their sportsbooks. Why? Because a good pay per head service will help you run the sportsbook smoothly. Since everything is custom-made, all you have to do is configure your players and their limits. Then, you fix your lines whenever you need to. By using software that is specifically made for bookies, you are simplifying your business, allowing you to spend more time focusing on how you can grow your sportsbook. There are a lot of companies you can choose from, as you can see in this bookie pay per head directory.