Over the past few years, many new bookie software have come out that have eliminated much of the pencil-pushing of bookies and clerks.
At Becomethebookie, we have the latest and most technologically advanced bookie software available which most of the big online books also use.
With our software, your players can bet on sports, horses and even play casino games found in Las Vegas all online or via our toll free number.
All you need to do is sign up for an account with Becomethebookie price per head service, and your players will be ready to play.
Our sister site, Realbookies.com also has a similar sports book software package that includes poker also.
With our price per head service, you get a sportsbook website, and your agent site where you see all reports on each player. The cost is only $10 per player per week and you are only charged when a player makes a bet.A
So if you have 20 players registered with us and 8 players wagered this week, you will be charged $80 ($10×8)
Each player gets an account id and password where they place their own bets online 24/7 or can call us via a toll free number and we take the wagers.
When the games are finished, you login with your account, and our software will automatically calculate all the winnings and losses for all the customers. What previously required you to hire clerks is now done (error-free) by our sports bookie software.
Also, instead of you waiting four or five hours after the games are over for your clerks to finish the grading and let you know who won and lost and for how much, with our platform, all of this is done in 15 seconds and instantly produces an updated pay sheet. While saving you all kinds of time and effort, our service will also eliminate the need for you to hire clerks to take bets.
With our bookmaking software, you have access to several reports. You can put your own lines out, charge your own vig or juice, view the entire history of each player, see current open bets, adjust player credit limit, and a cash flow report where you enter what you have received and paid for every customer. Also, view total exposure you have on a particular game, wagers and amount by player and many more reports.
If you need a report that is not currently in the software, please let us know and will customize it for you
Joining Becomethebookie will save you time and money and give you a pay sheet that is always correct. Also, besides being cheap, just $10 per player, unlike a clerk, you don’t have to pay a salary, a bonus, is never late, doesn’t bitch and moan, and won’t do something irresponsible that lands you in trouble. There is a lot of upside with joining Becoming the Bookie and using our bookmaking software.
All you will need to worry about after signing up with us is getting new players.
Bankrolling Your Bookmaking Business
Anyone who starts their own business needs an adequate amount of cash on hand to aid in its successful daily operation, but this is especially true when it comes to the bookmaking business.
Cash flow is king when it comes to booking bets in what can be one of the most unpredictable businesses you could be a part of.
Bettors have a tendency to go on winning and losing streaks on a regular basis and if the stars do not align properly, you can quickly find yourself between a rock and hard place if too many of your customers get hot at the same time.
One of the keys to maintaining an adequate bankroll that is large enough to handle all of your financial obligations is balance.
The whole concept of bookmaking hinges on the ability to balance out your bets so the leftover profit is the vig or juice that you charge for taking the bet. In an ideal world, you would love to have half of your customers place $100 bets on one team and then have the other half place all of their $100 wagers on the opposing side. What would be left is a nice 10 percent profit no matter what the outcome of that particular matchup turns out to be.
Unfortunately, bookmaking does not exist in such a perfect world like that, so you need to be prepared to pay out large sums of cash when that balance does not exist. It is one thing to take bets, but it is another to fully understand your financial liabilities at any given time. Your goal is to lay bets off against one another, but you may get caught with a heavy amount of cash on three or four totally different games which increases your exposure.
If you are dealing with one large single event such as the Super Bowl, it is imperative that you constantly adjust your betting lines to maintain a balance between all the bets whether they are on a side, total line or money line. Sometimes this is easier said than done, especially when there is a wave of action on one particular team over another.
You cannot control who or what your customers will wager on so you almost have to assume that you are going to lose in the worst possible way to assess your overall current risk.
The ideal bankroll for any bookmaking service is tied heavily to the amount of credit you extend to the sum of all your customers. You should start with your heaviest players to try and develop a weekly pattern of how they bet and what they bet on.
Certain times of the year are obviously crazier than others depending on what teams/leagues are currently playing. It may not be the best idea in the world to start your bookmaking business at the beginning of the NFL regular season.
Sure, the action will be hot, but are you 100 percent sure your bankroll will be able to weather the storm if a couple of your biggest players go on financial tear with an early winning streak?
You might want to consider starting things up right before the beginning of the NBA and NHL playoffs. The action will be decent and you can control your potential exposure by taking bets on a limited amount of games. Even if you get slammed with unexpected winners during this time you will still have the ability to regroup after things will slow down dramatically once Major League Baseball is the only game in town.
Nonetheless, you still have to ensure you have enough cash flow to honor your financial commitments. If you can learn how to achieve the proper balance during the off times of the year, you will be better prepared to handle the fall, when there is action coming in on all the major sports.
You can also layoff bets that you are not comfortable taking if you think the player knows what he is doing or the amount is too large. So for example, if you have a player who wants to wager $2000 on a game and you do not have enough to cover that if he hits, it is wise instead of not taking the action to lay it off somewhere else.
If you do not take his bet, he might find some other bookie who would and there is a good chance of losing him for good.
At BecometheBookie, we can handle such a player providing you collect the cash up front from him and book the bet through us. If he wins, we pay him and if he loses we keep the cash. Contact us for more information about this option.
Getting Customers As a Bookmaker
The most important aspect of any business is customers for the products or services it offers. Without them you really do not have a business, rather just a concept or plan for trying to make money. When it comes to bookmaking, you can take this one step further by stressing the importance of having and finding the right customers.
In the old days, most bookmakers made their living by working hands-on with their customers whether it was in the local bars, pool halls or other social gathering places. They took sports wagers by hand and met their customers personally to either pay them off or collect on a lost bet. While that type of interaction still goes on today, a new-found level of sophistication has been interjected into the bookmaking business with the advent of the Internet and all the technological advances in both hardware and software that have taken place over the past several years.
Most individual bookmaking services rely on a third party pay-per-head service that handles all of the administrative tasks that go into taking bets. While these types of companies have been a life-saver to the industry considering how complex managing this whole process has become, it still comes down to the bookmaker to build their client base from the ground up. The majority of individual bookmakers probably got started in this business by offering their services to family and friends who did not want to deal with the big offshore sportsbooks that sprung up all over the place during this technological explosion. Even if you are just starting out today, friends and family are an ideal way to build a customer base.
This sense of familiarity helps to develop a sense of trust between both parties in a very volatile financially driven industry. You might be able to build a nice little business catering to just friends and family; however you will eventually need to add new customers if you want to develop any type of long-lasting success. The best way to do this is through direct referrals from your existing customers.
It is always better to have some background information on someone that you are going to do business with, especially when there is money involved. The last thing you need is to add a player that is a potential credit risk that will only end up costing you money down the road. Chances are you are still going to get burnt on a bad bet here and there, but you do not want to go out looking for trouble by adding customers sight unseen.
The other reason that referrals are such an important part of building your customer base is the ability to access information on what kind of sports gambler this person might be. While the reward of adding some high rollers to your list might be a boon to your financial bottom line, so is the risk if you cannot handle the potential financial liability of paying off their bets when they get hot. Slow and steady is always a much better approach to growing a self-sustaining business than trying to make a couple of big scores.
Another risk you run of adding players sight unseen is the potential of having a few sharps sneak onto your list. The last thing you need is professional sports gamblers placing bets with your service as most of the time you will lose over the long haul.
Your ideal customer should be a recreational bettor that tends to stay on the conservative side when it comes to wagering on the games. These type of players become very predictable in their betting patterns over time, which is exactly what you need to add stability to properly managing your bankroll as well as your overall financial picture. They also tend to be the right type of customers that can supply similar type of referrals that will help to continuously grow your business in the proper fashion.
Bookmaking & The Use of Juice or The Vig
Some bookmakers refer to the profit that is made on taking a bet as “vigorish” or “vig”, but this is also commonly referred to as “juice”. Very simply, juice is the extra amount of money that is tied to any bet that is placed, which in most cases is 10 percent. That means if you bet $100 on a certain team to win and you end up losing that wager, you would owe the book $110. You do not pay any juice on a winning bet so that is why bookmakers try and balance the amount bet on either side and take their 10 percent cut on the losing end.
Juice is a vital profit center for any bookmaker, whether it is a one-man operation or a big name casino in Las Vegas. It is also an important way to make money booking bets while minimizing risk and exposure at the same time. The key concept to making the juice on a bet work for you is balance. As long as you remained fairly balanced on both sides of any sporting event you take action on, you should still walk away with a profit no matter which side wins.
There is also some tremendous value in using juice to build your bookmaking business as long as you do not get too carried away. While the industry standard is 10 percent, you can charge whatever you want when taking bets. I would still leave the juice at 10 percent for a good majority of the bets that do come in, but do not be afraid to discount that figure if you think you can attract additional business.
One example on how to use juice as a sales tool would be to discount the juice to five percent on any parlay bets. The odds are already in your favor on this type of wager, especially when your customer starts to combine three or more games in a play, so there is a good chance that you are going to pocket the entire bet. This strategy can be applied to any type of exotic bet that carries a higher risk/reward. A couple of things to keep in mind when discounting the juice on bets such as this is to offer it to your most loyal customers (the ones you know the best) and place reasonable limits on the amount of money that can be wagered on these types of bets.
Be careful of jacking up the vig too much as you will need to be competitive with other bookmakers either in your area or online. If a player sees you are offering a bet at -120 (meaning he has to wager $120 to win $100) but some where else has it at -110 he will probably go where has to lay the $110 to win a $100.
You can also use juice in the form of an additional moneyline on a straight-up bet as a way of driving action one way or the other. For example, if the total on a football game is set at 49 and you are trying to attract additional bets on the over, you could set a moneyline of -115 for a play on the UNDER while discounting the juice on the OVER to -105. This is a great strategy to use when you do not want to change the actual line. This is also a great tool for balancing out your bets without running the risk of changing a betting line.
Discounting juice can be also used as a reward or bonus for your most loyal customers. You worked long and hard at building your business and at the cornerstone of that success are the customers that have been around for the long haul. I would highly suggest that you set parameters for these discounts (lower juice on bets taken on a certain day or a lower amount of juice on high dollar wagers) to keep things under control.
You always have to remember that the goal of any bookmaker is make his money on the juice, as this remains the one constant in a very unpredictable business. However; do not be afraid to experiment with this profit margin as means of bringing in additional business or as simply a thank you to the customers that are most responsible for keeping you in the bookmaking game.
Most pay per head shops will let you customise the lines and juice on your own and also allow you set limits per player.
Understanding Sports Betting
Sports Betting is one of the most popular avenues of gambling in the United States. Like poker, online sports betting has been essentially outlawed, though there are a few sites that still allow U.S. customers. For most Americans, sports betting is most convenient to do from your own home, as Las Vegas, Nevada is the only town that has legalized sports betting. Even Atlantic City, New Jersey, another gambling Mecca in the U.S. does not offer betting on sports—only horse racing.
There are a few sporting events each year that spike the popularity of sports betting in America. March Madness, the nickname for the college basketball playoffs, is one of the most popular events for which people place bets. Some even fly to Las Vegas for the chaotic opening weekend simply to bet on the games.
The Kentucky Derby, the premiere horse racing betting event takes place in Churchill Downs, Kentucky, draws a lot of attention from sports bettors as well, as gamblers wager on which horse will win, place or show in the event.
The third, and likely most popular time for sports betting in America is the first Sunday in February, known to many as Super Bowl Sunday. The Super Bowl offers straight bets, such as who will win the game and by how many points, as well as more entertaining proposition bets. Proposition bets are on extremely specific parts to the game, such as who will win the coin flip, or what will be the longest touchdown of the game.
Other types of bets include parlay bets, teaser betting, and futures bets. Parlay bets involve picking the winner of multiple games at a time. If you create a five-team parlay and one team loses, you lose your bet. Since this is obviously riskier, sports books offer better odds on these bets. Typically, a two-team parlay pays 13-5, or 13 dollars for every 5 dollars wagered. Three-team parlays pay up to 6-1, all the way up to 10-team parlays at 600-1. The advantage of parlay betting is that if you pick all winners together, the payout is much greater than if you bet them separately as straight bets.
Teaser bets are popular among casual bettors. Like parlays, you must win all legs of your bet to get paid. Teasers, however, allow you to manipulate the point spread. For instance, if the Los Angeles Lakers are 6-point favorites and the New York Knicks are 10-point favorites, you could ‘tease’ them five points each, and make the Lakers 1-point favorites and the Knicks 5-point favorites. A two-team teaser typically pays 10-11, or 10 dollars for every 11 that you bet, but the odds go in the bettor’s favor with three-team teasers and above, at 9-5 and better.
It is a basic understanding in sports betting that the sports book or bookie charges more for both sides of the bet, ensuring a profit. For instance, a typical NFL betting line may be New York Giants -6 (-110). If you think that New York will win by seven or more points, you would bet on them to ‘cover,’ or win the bet, at -110 odds. That means you would have to bet 110 dollars to win 100 dollars, and if you take the other side of the bet, you will likely have to lay the same odds.
The cut for the house is referred to as the juice, ‘vig’ or ‘vigorish,’ and just covers the sports book when bettors place bets on both sides of the line. If you ever see odds with a plus sign in front of it (i.e. +150), that means you bet 100 to win the amount, and means that you are betting on the underdog.
Straight bets or spread betting are easily the most common and most popular types of betting for every day sporting events. On any given day, there may be hundreds of events on which you can place a bet.
During the spring and summer months, baseball is the most easily accessible group of events on which to bet. You can either bet on the run-lines, which is baseball’s version of a point spread, or on the money lines.
A money line is betting straight up that a team will win its game, even though it may not cover the point spread. If a team is favored by 10 points and you think that the team will win but probably not by 10 points, you may bet on the money line, which will probably be around -500, or 500 dollars to win 100 dollars. In basketball, baseball, football, and hockey, there are no draws, so a bet on the money line will always result in either the team winning or losing.
However, in soccer betting, there is an option for betting on the game to be a draw. If you bet on a team’s money line in soccer, they must win the game outright—and not tie, or draw—for you to win your bet.
Futures bets are long-term and may offer a more attractive line, but also causes the bettor to tie his money up for a longer period of time. Before the NBA season even starts, a bettor may choose the Lakers to win it all at a handsome price, but keep in mind that your money will be tied up until the NBA Finals are decided several months later.
As online betting is the most viable option for most bettors, it is important to review which sports books are considered quality and which aren’t. SportsBooks.net updates its database of online sports books daily, noting which books pay slowly, which books don’t pay at all, and which books are quick and reliable with good customer service and which have the best online bookie software.
Some sports books online do not do business with U.S. customers after the Unlawful Internet Gambling Enforcement Act of 2006. This law prevents U.S. bettors from depositing to online sports books using credit cards or checks. Instead, U.S. customers must deposit through Western Union or MoneyGram, among other options.
Popular and trusted sports books online that serve to U.S. customers include Totalbets and BetanySports. The aforementioned sports books are known for stellar customer service and quick withdrawal times.
Tips for Becoming a Full-Service Bookmaker
Bookmaking can be a very lucrative business proposition given the ever-growing popularity of betting on sports, but you have to know what you are up against as far sustaining long-term growth and success in this chosen field.
Most sports bettors today probably place the majority of their wagers with one of the huge online sportsbooks that exist in today’s marketplace. Along with these industry giants, there are hundreds of other online betting sites that are set up to take people’s money to bet on the games.
The first thing you need to do as far as starting or building your own bookmaking business is to establish a point of difference between what you have to offer and your competition. The best way to do this is to build your business from the ground up with as many customers as possible that you already have a personal connection with.
Cold calling for customers through outside marketing efforts is still a big part of the bookmaking game, but if you develop a solid base of customers through your own internal networking efforts, you will have a steady base of income and cash flow to work off of.
Word of mouth and referrals are still the best way to attract additional business. It stands to reason that if someone is happy with your service, the more likely they will be to recommend these services to their friends and family.
Just think how fast you could expand your bookmaking business if your received five or even 10 new customers from each of your existing players. Even if you only had five people placing bets with you; that could quickly turn that into 25 to 50 customers through a solid referral system.
One way to encourage this kind of internal, organic growth is to offer incentives to your existing customer base for any solid referrals they bring in.
Once your business does get off the ground, an extremely important next step to becoming a full-service bookmaker is to align yourself with a quality Pay Per Head service.
These companies charge a weekly per head fee to handle the administrative side of the business. A price per head service can provide a call center and interactive website that puts you on the same playing field as the big boys in the sportsbook industry.
None of those companies have brick and mortar locations so their entire marketing presence is through their website. PPH companies with the latest state-of-the-art gaming software and technology will build you a comparable website that caters to your individual needs.
You can easily create the look and the feel of a bookmaking business that is on the cutting edge of the industry with a website that may be complex in its design, but very user-friendly for your customer base.
Your PPH service can also provide a wealth of information that is vital to the day-to-day operation of your business with a series of different reports that are literally right at your fingertips through their sports betting software.
While this is a very important feature of this service, it is still up to you to use these reports to track customer activity, potential exposure, cash flow and anything else that helps to stay on top of your business on a regular basis.
If you are committed to future growth and success in the bookmaking business, your PPH service will give you all the tools you need to take you where you want to go.
A very important mindset to becoming a full-service bookmaker is to know that you can compete with the large online sportsbooks in this industry by matching everything they have to offer.
The point of difference is the same level of professionalism with the added touch of the personal one-on-oneattention to your customer base that cannot be duplicated by your competition.
Top Baseball Betting Tips to Get Bookies Started
What’s worse than somebody not knowing how to bet their way through the MLB season?
A new PPH betting agent with a whole base of uninformed players, that’s what! Fortunately, we’ve thought of that scenario for you. These are the top baseball betting tips that should have your gamblers raise the stakes in no time.Live Betting Is Your Biggest Bread winner. This is one of the top baseball betting tips you can give to a new sportsbook agent.
- Since you collect “juice” (commission per bet made), it comes as no surprise that plenty of small bets in a short amount of time is a great opportunity.Not only that, but your bettors have the security of placing bets on the criteria they feel comfortable with. For example, “no runs scored in x innings.” Many games often end with no runs scored in a few innings, so players feel compelled to bet more.
- The Easiest Bets Live betting can be thrilling. Though, newcomers might not want to jump straight into the action without some prior knowledge. You need to give them a gentle nudge in the right direction. Here are some top baseball betting tips for those just starting out:
- The MoneyLine – Easiest method; bet on who you think will win the game
- The RunLine – Wagering on one team or the other to win (or lose!) by a certain number of home runs
- Over/under – As a betting agent, you predict a total score for the game. Players are tasked with betting that the score will be either over or under the number you predicted.
- Series – Teams usually play against each-other in “best of 3” or a higher number of games. Players can bet on each of the games in a series.
- Futures – Who will win the AL Central? What about the National League? Or maybe the American one! Who will be the champion of the World Series? Bettors can place their stakes on these finger-biting questions at your sportsbook.
- Baseball Team or Player Performance. We don’t want to sound cheesy – but baseball isn’t just about winning a game. It’s about the spirit of the game, and the contributions of each player. Or even the athletic performance of the entire team. As such, your players can wager on some things called player and team “props”. You could bet on your favorite player scoring “over” or “under” x amount of runs during one game. Same goes for teams. Or maybe you’d like to bet on how many strikeouts there will be during the game.
- Plenty of options and many opportunities for cash prizes and “juice” for betting agents. If you provide your bettors with these top baseball betting tips, that is.
- Don’t Forget About Your Experienced Players. Not only bettors require some top baseball betting tips. Sportsbook agents can use some advice from time to time as well! One of the biggest mistakes one can make is only offering your players a 20 cent line. While that is common among sports bookies, the top ones offer their loyal participants a 10 cent (or dime line). Let’s illustrate what we mean with an example.We have a favorite and underdog team in a game. The underdog is at +130 odds while the favorite is at -140. This is a dime line. If the underdog were at +115 and the favorite were at -135 that would be a 20 cent line. The bottom line is that you need to risk an extra 5 cents on the favorite to win a dollar. Conversely, you would win 5 cents less on the dollar if you bet on the underdog.When the wagers go to the tens/hundreds of dollars, players see more cash winnings on the dime line.
Don’t be afraid to offer better odds to repeated players!Start your very own Pay-Per-Head (PPH) sportsbook at Realbookies.com, and create a fruitful relationship with your players today!