As sports betting is increasing in popularity and more states are legalizing it, many entrepreneurs are considering joining the industry. However, the skeptic in all of us are asking whether Is It a Good idea to Become a Bookie. What are the pros and cons of becoming a bookie and is it worth the risk?
The short answer is yes! It can be a good idea to become a bookie for the person with the right mind frame and drive. Just keep in mind that like any other business there is always the chance of failure. However, for sports and gambling lovers that have what it takes, it can be a very lucrative business.
Of course, the profits a bookie can earn will depend on various factor like effort, budget, marketing, and luck. Some bookies earn a few thousand dollars per month with minimal work while others earn tens of thousands per month. Thus, there are many types of bookies in the industry and the earning potential can be limitless.
5 Reasons to Become a Bookie
The Vig/Juice/Commission – The Vig which is also known as the Juice is the reason why bookies make money. Of course, this is what being a bookie is all about. This is because it is the commission that a bookmaker charges bettors for taking their sports betting action. In most cases, the bookie will charge a 10% Vig but some sportsbooks also offer lower vig to their players.
If a bookie does their job correctly, the action on both side of the game will be even on both sides. Thus, they will make a profit no matter who wins the game.
The Odds are With You – As bettor, finding the right odds is pretty tough because sportsbooks are the ones that set them. However, as the bookie, you set the odd and if you do your job right, you will profit from it.
Statistical Advantage of Players – In order for a player to make a profit betting on sports with a 10% vig, they must win 52.4% of their wagers. While a small percentage of people are able to achieve it, most bettors never achieve it in the long run. Therefore, as long as you manage your money correctly, the odds are in favor. This is because statistically speaking, the sportsbook always wins.
You are Your Own Boss – As your own boss you make your own hours and have no one telling you what do to. That is the American dream. Of course, it also means that you are responsible for your sportsbook and its financial future. In addition, you can also work as a bookie from home or anywhere in the world thanks to the internet.
It’s Fun and Profitable – Well, fun it you like sports or gambling or both. Just imagine, working a job you love to do and working your own hours.
Is It a Good Idea to Become a Bookie – Become a Bookie with a Pay Per Head
Today, become a bookie has never been easier or more cost effective. This is thanks to the Bookie Pay Per Head Solution which allows people to open a sportsbook in minutes. Furthermore, with a Pay Per Head, you no longer need hundreds of thousands of dollars to start your betting operation. This is because you only pay $3 to $5 per week for the players that bet on sports.
From A to Z, a sportsbook PPH gives you everything you need to open a sportsbook from software to infrastructure. The only thing bookies have to do is manage their players and decide how to collect their money. Everything else is done by the PPH provider.
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