Need A Job? Become a Bookmaker
With a tough economy facing America’s working people many of the more adventurous are looking into how to become a bookie. Regardless of economic ups and downs sports has always been a mainstay of the American way of life. Even on limited incomes people still gather religiously around their TVs every Sunday to watch, and bet on, their favorite NFL team. However, becoming a bookie requires more preparation than most people might think.
To be a bookie requires a certain personality type and a willingness to take risks and work on the fringes of the law. It requires more than just a deep understanding of the sport you are taking action on. Real bookies need to have an understanding of the odds and what the numbers truly represent. If you want to be a bookie you will need to increase your understanding of the concepts behind the lines and odds if you want to be successful.
If you want to become a bookmaker the first rule you need to know is that bookmaking is not wagering. Players are bettors, bookmakers engage in the business of calculated risk. Bookmaking is not the get rich quick scheme that many believe it to be. On average you will be operating on a profit margin of between 5%-8%. This is achieved by getting balanced action on both sides that allows you to take money from one player to pay another and keep the juice or “vig” from the losing bet.
Once you have a thorough grasp of the odds you are still left with the question of how to become a bookmaker in your local area. The first thing you will need is a bankroll large enough to handle at least 4 weeks of payouts. However unlikely this scenario may seem to you, nothing will destroy your reputation as a solid out faster than not paying out winning bets; if you delay payments or stiff winners your players will leave you faster than rats from a sinking ship. The flip side of that coin is to only take action from players who have the ability to pay their losses.
The final step in becoming a bookie is to find a solid pay per head service to write your business. This will limit your exposure legally and allow you to focus on collections and recruiting to build up your business. If you like sports and you are ready to be your own boss you may be ready to become a bookmaker.
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