If you are really considering becoming a bookie, you already know how it works. In most cases the losers pay the winners and everything evens out. The bookie makes his money on “the juice” or “the vig”, which remains constant no matter who wins or loses. However, sometimes all of the favorites win and all of the games go over and its payout time.
If you are serious about being a bookie, you have to be prepared for the inevitable losing weekend. You are going to have to make some payouts from time to time. It is an integral part of the business and paying off is good. Players like to be paid off on time and in a friendly manner and a bookie can either make or break his reputation by the manner in which he handles payoffs. Becoming a bookie is all about reputation. Being a bookie involves trust and respect.
So,do you need a lot of money to be a bookie? Well… yes and no, you do need to have a bankroll large enough to cover yourself should that bad weekend come around, this bankroll will be determined by the size of your players package and how much they bet. One more piece of advice: Don’t make the rookie mistake of having a good weekend and going overboard with the winnings. Always be sure to stash enough away to cover your upcoming action so that you can sit back and enjoy the games with your friends.
Beyond the money factor
Most of the gamblers that you will meet these days have played with an offshore sportsbook at one time or another. Modern bookie software and the advent of SmartPhones and iPads have made wagering on sports so easy that now more people than ever are getting in wagers on the weekend games. Wagering on sports has never been illegal in the USA. Taking a wager on sports events is still frowned on. One increasingly popular way to circumvent that problem is to work with what is called a cost per head service located in a country like Costa Rica where wagering on sports is legal and licensed.
When you affiliate yourself with a good price per head service, all phone and internet transactions take place on their servers and in their call centers, not in your back room. That right there will take some of the pressure off of your back. The pay per head service will even build you a customized web site of your very own. When that goes live, you can offer your clients any option offered by an offshore sportsbook.
