how do bookies make money

How Do Bookies Make Money

Last updated on March 9th, 2022 at 10:18 am

One of the most common inquiries we get is how do bookies make money. Everyone knows it has something to do with betting, but not a lot know about the specifics. Part of learning how to become a bookie is understanding where the bookie will profit. Basically, bookies profit from wagers placed by people on the outcomes of a certain sports event. How much do bookies make, will depend a lot on the bookie’s skill and operation.

How Do Bookies Make Money

how do bookies make moneyThe main source of income of a bookie is by charging a transaction fee for handling a sports bet from a player. This is called the vigorish, or the vig. In some cases, bookies can also earn from lending money to players. But more than that, the bookie can also earn more. Especially if they do well and take in profit from the balance of paying out winnings from losing bets. Which is a welcome bonus for the bookie.

As a bookie, you will facilitate the betting on sports events, and other events like elections, awards nights, and more. As a bookie, you will set the odds, take in bets, and pay out the winnings to your players. The cost of being a bookie, however, will depend on you.

The best way to save money on becoming a bookie is to be a bookie agent and run an online sportsbook through a pay per head service. A pay per head service will charge you a fixed rate per active player per week, and this amount is generally covered by the vig you set. The more times your players place bets in a week, the higher your potential for winning more, since the payment is just once a week.

And while sometimes, lines may favor the side with more players betting there, it usually balanced out in the long run. As long as you are good out predicting the outcome of events, and with taking care of your players, you can easily earn a lot of money as a bookie.