Bookmaker — who is it, and how to become one?
A bookmaker is a person who professionally specializes in betting on money. The debater accepts forecasts for upcoming events of various kinds (more often – sports games, less often – political, economic, cultural and other events) with coefficients set in advance for them. After that, he calculates the bets and deals with the distribution of winnings.
Many of us have at least once bet on the outcome of a sporting event. It is especially difficult to resist this during major football championships or, say, the Olympics. And it’s not even about winning, it’s just that betting additionally fuels interest in the game and creates new reasons for discussions with friends. In addition, there is a large layer of players for whom sports (and others) betting is a way of earning money.
Bookmakers are engaged in accepting bets. They don’t necessarily do it in bookmakers. The most popular place to find good luck in recent years is the Internet. You can try to win by betting a small amount on specialized websites or in smartphone applications.
Is it easy to become the owner of such a site / application yourself and what is necessary for this? Many players have at least once thought about going over to the side of the organizer of the sweepstakes. After all, it is almost obvious that this threatens large profits.
What is necessary to start?
Let’s say you decide to become one of thousands of bookmakers and definitely on the Internet. Where can I get a website? How to install and configure it? Are employees needed and what should they do? When do I need a license and how do I get it? How much will you finally be able to earn? This is only a small part of the questions that begin to spin rapidly in my head immediately after the future businessman begins to study the topic.
Let’s start with the main thing: the bookmaker’s earnings directly depend on the number of bets. Ideally, there should be more than 10,000 of them per day. The bookmaker does not care who loses and who wins. All coefficients are calculated in such a way that at least 10% of the betting turnover remains.
If your clients have placed 10,000 bets of $1 each, then it is easy to calculate that you will receive $1,000 profit.
Accordingly, the task of the organizer is to attract participants and determine suitable coefficients for the maximum possible number of events. There is an advertisement for the first one. For the second — specialized software. It minimizes the factor of human error, and also allows you to accept bets 24 hours a day, 365 days a year.
What about the documents? Where and how to get a license?
In most countries of the world, bookmaking is quite legal. It is only required to obtain a license granting the right to conduct such activities.
Getting a license is not easy. It is necessary to confirm the presence of net assets in millions of dollars.
The amounts are serious and, although, in the future, you can earn them on bets for several years, few have such an amount at the start. What should be done? There are options. Firstly, it is possible to legally work under the franchise scheme with a provider who has this license. Secondly, no one obliges you to work exclusively in your market. The principles of online sweepstakes are the same all over the world, and players are interested in the same matches.
You can also get the popular gambling licenses of Malta and Curacao.
Why is it profitable to open a betting business on the Internet?
In the third millennium of our era, in fact, it is no longer appropriate to ask such a question. Of course, offline betting points have their advantages, but it is more difficult to open them, and although the audience will be constant, it will be very limited.
The advantages of the online option are many and they are all quite serious:
- no need to spend money on office rent and maintenance;
- less staff is needed: 5 people are able to serve a site with traffic of 20,000 people per day;
- quick access to a huge audience, including foreign;
- a large number of advertising channels;
- ease of entering/withdrawing money using payment systems;
- the ability to accept bets in cryptocurrency.
In addition, starting a business on the Internet requires minimal costs and time. It is enough to choose a suitable provider of ready-made solutions, pay for the installation of your own casino or poker room, attract players and start making money.
Is it possible to make such a site yourself
In theory, yes. You will need a designer and several programmers capable of creating a betting site from scratch. If you find really good specialists, then this task will be solved in a few months. But it’s not a fact that you won’t face a bunch of problems, starting from the choice of hosting and ending with the complexities of data processing and the operation of payment systems.
How to become a bookmaker: earnings prospects
Many bookmakers talk about their income, stating that it is from 10% to 40% of turnover. In general, these numbers do not mean anything, since no one really calls the absolute figures for earnings anyway. In percentage terms, by the way, small bets are the most profitable. About half of all players do this.
A lot depends on the size of the turnover itself, and it is strongly tied to both marketing and the quality of your service. The more stable your site will work, the better all processes are configured, the more positive feedback it will receive from players. Subsequently, the growth of new users will be provided, among other things, by word of mouth.
One thing is for sure: the betting business is one of the fastest ways to increase start-up capital. At the same time, it is quite legal in most countries of the world.
The volume of the potential audience of customers, again, is huge. Who is the typical player? As a rule, this is a man between the ages of 18 and 45 who is interested in one or more of the most popular sports: football, basketball, hockey. Recently, esports has also been added to this list. Betting on the results of Counter Strike matches has long been the norm.
Such people are actively interested in the news of the sports world, follow the achievements of their favorite teams. Betting for them is a pleasant addition to sports broadcasts, and online casinos are a way to have a good time after a busy day.
There are millions of such people in any country, which means that the ceiling of your earnings is determined only by your activity in terms of marketing and the number of betting tools offered.
How to get started?
The easiest way to become a bookmaker is to get advice from one of the suppliers of standard solutions. Yes, you are already on the website of one of them and you can just chat with a consultant in an online chat. Also, with the help of Google, you can easily find several more similar companies. Get advice from them too, put all the pros and cons for each company in a table, analyze and make a decision.
Another way: find an already established owner of such a business and ask him about all the nuances. Such people can become a source of the most valuable information. It is only important to find an approach to them.