So, you plan on starting an online sportsbook, but want to jump out to a fast start?
Follow these keys to success and you’ll be making money as an online bookie in no time.
Five Keys to Success as an Online Bookie
The success of your online sportsbook depends on several factors. Follow these five keys to success and we promise you’ll be able to turn your new side hustle into a full-time career if you want.
Partner With the Best Sportsbook Platform
The biggest mistake new bookies make is joining an unreputable sportsbook platform or they end up joining a white label bookie platform that costs too much to invest in initially.
There are turnkey bookie solutions where you won’t need to pay more than $10/player per week.
We have numerous pay per head reviews you can read through to determine the best PPH in 2021.
Have a Few Players Ready to Bet
While it’s true that you only need one player to start a sportsbook, by having a few guys ready to bet upon launching, you’ll give yourself a better chance at making some real money.
If you only have one player ready to bet, what happens if they lose and stop? What happens if they end up crushing you and you don’t have any other players losing to make up for it?
One player may not bet everyday either. By having a few guys ready to bet from the start, there’s a better chance you’ll have action coming in daily, allowing you take advantage of free trials.
Utilize All of Your Bookie Reports
Sportsbook platforms provide bookies with lots of reports. These reports track things like what your players are betting on and how much exposure you have on every market.
The key to success as a bookie is following the numbers/data to make informed decisions.
Losing on NFL teasers all season long because guys are hitting Wong teasers? You may need to restrict or put small betting limits on them, but you won’t know this without looking at reports.
Don’t Be Shy About Seeking Out Assistance
A bookie platform isn’t going to take you by the hand and make you rich, but they have expertise they can provide to make sure you’re not making any beginner mistakes when launching.
If you need help or have a few questions, make sure you contact your rep for assistance.
Keeping Your Players Happy
One of the biggest keys to success is keeping your players happy, so they don’t change bookies.
Building loyalty is tough in the gambling industry, but the best thing you can do is to make sure you’re paying players extremely quickly. The faster you pay winners, the better off you’ll be.
People talk and word of mouth will get around that you’re paying out winners quicker than anyone.
You should also try to keep an open line of communication with your players. They can contact the support provided by your bookie platform for most things, but remain available.
Maybe a player needs a payment extension that you can help them out with. Things happen in this business, so keep that in mind when you’re dealing with loyal players.