How to become a bookie? | How to start a bookie business?
Are you looking to get into one of the most exciting, fun, profitable, and HOT industries on the planet?
We often get questions from new folks interested in learning How To Start a Bookie Service. Here is a list of basic information on starting a bookie service.
What is a bookie?
'Bookie' is the slang word for a bookmaker. A bookie is someone who takes bets from individuals on sporting events, much like a stock broker takes money from clients to buy and trade stocks. The bookie sets the "spread" in order to set a break-even point. The bookie collects money from the losers and pays out to the winners. The bookie also determines that fee he/she can collect that is based on a percentage of the total money received, also known as the "juice.
Most bookies hang out at local clubs and bars during major sporting events like the Kentucky Derby, World Series and Super Bowl. Talk to people and see who is placing bets with other people and talk to their friends. Get known and socialize. Most bookies find clients from family, friends, college buddies, co-workers, or the folks they meet at the local pub or bar. Most bookies start out small focusing on building a base or clients. The more clients the safer things are for the bookie. One thing to consider is that it is against the law in the US to collect money from sports betting (Reason #1 to choose an offshore bookmaker, US law has many restrictions on sports gambling and betting).
Buy a cell phone that you use just for the booking business along with a code of some sort where the person lets the phone ring two times then hangs up. This signals you to call them back because it is a legitimate client waiting to place a bet with you.
Set a day that you will settle all bets: win or lose. It is possible for someone to find themselves in trouble with a bookie or gambling with money he or she should be utilizing for necessities (Reason #2 why it is best to work with an offshore bookmaker, with an offshore account you do have a set bankroll. With bankroll being an important part of sports investing, the advantages here are plenty. It is easier to plan ahead and play within your means when you can only lose so much).
Check out the games currently running and learn the ins and outs of who is playing. From this information set the point spread and write down the teams and games and the spread in your book to reference to those looking to place bets. (Reason #3 on why you need an offshore bookie service for your "clients", having to collect money from friends, family, college roommates, strangers, and co-workers is not fun. Have the guy offshore do it for you).
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Write down the initials and amounts of the bets that people make when they call - make sure they know you will be adding a 10% "juice" if they lose the spread. Make sure they know exactly how much they will be losing. Do not lose your betting book. (Reason #4 why you need an offshore bookie service, There is no comparison between a traditional street bookie who uses a pen, paper and calculator, to an offshore sportsbook which operates with the newest technology with the lines that can be provided. From buying points, to halftime lines, to money lines; offshore sportsbooks offer much more variety on what you can play).
