Sportsbettingcentre

GregRoberts · Newbie

Have you every considered becoming a bookie?

sportsbettingcentre · Member

Hi Greg

I think everybody would be interested in making money. The difficult bit for most people is going to be how such an operation is funded, unless what you are selling is a "skin" a la Betmate. As far as most people are concerned running a book would require substantial starting capital and a fair element of risk. Creating a skin on the other hand, whilst an interesting concept, isn't really being a bookie.

Do you have any views on this?

GregRoberts · Newbie

Sure, I'd be glad to share my view.

You are correct, the first step to becoming a bookie is to having a starting capital, but hey - every business in the world requires a starting capital, and bookmaking is as business as you can get.

We provide no skin, but a complete hi tech solution developed in house.

Our uniqueness is we enable you to minimize the required starting capital to the minimum, that is to as much as you are willing to risk on wagering activity.
Some bookies are conservative and will take wagers in amount up to 75% of their capital so in case they will lose everything - they won't go bankrupt.
Other bookies will risk as much as 200% on their original 100% capital.

So to answer your question, when using our sportsbook solution, the capital you need is as much as you are willing to risk. If you ask me, you can start with as much as $10,000.

When I say risk and lose I do not mean that the bookie is wagering against his players, what I'm talking about is an un-balanced book. As you know, a bookie is no different then a broker, he takes action on one side of the bet and tries to match it to action on other side, that is so in the end of the process the losers will be paying the winners and the bookie will be collecting the commission (also called VIG or VIGORISH), you can imagine this process like looking at scales. Once a book is unbalanced the bookie start manipulating the odds on each bet in order to shift the action (also called "Control the steam").
But as all bookies know, balancing the book is not such an easy task and sometimes is simply impossible.
So what can you do?
First, we provide you with the tools that enable you to have real-time knowledge of how balanced you book is and what you need to do to improve.
Second, once reaching their max risk, most bookies will continue to take bets (some clients may not return if refused to place a bet) but will be laying them with other fellow bookies who have un-balanced books themselves - so the best advice here is - make friends, network with your fellow bookies.