Growing up, everyone said that finding a job you love means never having to work a day in your life. Obviously, this is a cliché that does hold some truth behind it. However, it does not necessarily mean that loving something means it is the perfect job for you. The same goes for being a bookie and starting your own sportsbook. Therefore, before you embark on being a bookmaker, let’s go over the Pros and Cons of Being a Bookie
In this article, we will not go over the legal aspects of opening a sportsbook and being a bookie. This is because that is a different issue that we will cover another time. Instead, we will cover the good, the bad and the ugly about being a bookmaker.
Our goal is not to discourage anyone from following their dreams. Instead, we want to let potential bookies know about what being a bookie is all about! Of course, we will not leave you hanging with just a simple checklist of pros and cons. We will provide solutions on how to get around some of the challenges and disadvantages of opening a bookie business.
Becoming a bookie – The Pros and Cons of Being a Bookie
Cons of Being a Bookie
Expensive Start-up Cost – Starting a bookie business can be very expensive. The cost can be as high a million dollars depending on the scale of your operation. A lot of it is because of the bookie software which can cost as much as half a million dollar if not more. In addition, there is the cost of operation like hiring the right people and such.
Reputation – This is one is a hit or miss. Some people think that books are scum bags after watching too many movies. For others, it is a dream come true or just a normal job.
Stress and Time – Starting an online sportsbook is like any other business. In order to become successful, it will take most of your time for the first couple of years. Expect to work 12-14 hours per days, 7 days a week. In addition, the stress can be a killer. This is because gamblers will not always bet the way you want. Therefore, the result of a single game could mean making or losing a lot of money.
Collecting Money – This depends on whether have a credit bookie or a post-up bookie operation. If you have a post-up sportsbook, then no worries as your players must make a deposit before they can wager. However, if you are a credit shop, then you have to collect money which can sometimes be difficult.
Pros of Being a Bookie
Your Own Boss – Yes, you are your own boss, the master of your destiny and following your dreams!
Reputation – Gamblers, sports fans and your friends respect your decision and you are often the topic of discussion. Of course, some people probably think you break legs for a living and are similar to a loan shark!
Profitable – Owning a sports betting operation can be very profitable. This is why it is one of the fastest growing industry worth billions of dollars and growing. The best part is that there is still plenty of room for some healthy competition. Therefore, becoming a bookie in today’s market can lead to a huge profit margin!
Becoming a Bookie with Less Cons by using a Pay Per Head
Now that you know the basics of what it takes to be a bookie, lets solve the con of being one.
No More Expensive Start-Up cost – First off, by using a Pay Per Head solution, it is no longer an expensive endeavor. For example, by using PricePerPlayer.com, you only pay $5 per player or less for the software, website and support staff.
Less Stress, More Free Time – By using the PricePerPlayer.com Bookie Pay Per Head solution, bookies have less stress and more free time. This is because we take care of everything for you from odds management to customer service. The only thing bookies have to worry about is finding new players for their sportsbook.
Make Money while You Sleep – To become successful in any business, you have to constantly make money even while you are sleeping. This is exactly what a Pay Per Head does for you as our services are live 24/7. This means that while you sleep, gamblers can place their bets or gamble in your very own online casino!