Design your Financial Strategy
For entrepreneurs, the odds are always against their favor. As you may know, 22% of small businesses fail within the first year. On the other hand, 62% of US billionaires are self-made. With the right tutoring, the bookie business can be a profitable and successful.
First of all, the goal of every bookie will be to get even action on both sides of a chart. This means that if New England is playing against the NY Giants and the spread is -7-110. It’s the bookie’s main interest to get action on both sides. He can relax and watch the game without any sweat and make the vig or vigorish. Some people call it the juice. In a perfect world the spread will be -7 even money. Bookies charge a percentage or the juice, so if the action is the same, meaning an amount of 2000 dollars on each side, giants and pats, the bookie will make 200 dollars regardless of who wins.
Nothing is for free, so that’s why bookies make money in the long run. The best scenario will be to have the ideal customer, somebody that will lose 52 weeks a year. Let’s face it, there’s no perfect world. Every dog has its day. Players can have a few winning weeks, if they are recreational bettors, but in the long run they will lose.
The pph site will work as your confidant and go to guy when in doubt. We understand how hard it is to start a business, that’s why we offer a 4 week free trial to get you going. There’s no entry fee to get started, that will relieve the agent to start off with a plus and to get to know the software and its capabilities.
Besides that there’s no initial investment required, the agent will need to have sufficient bankroll to cover whatever the players win. There’s a lot of uncertainty regarding this matter, because that varies depending on the credit limit that your customers might have. There’s no cap on what they can win, but with the correct settings, this can be limited. So for example, if you have 5 customers of at least 500 dollars as their credit limit, have around 8k (k is used to talk about thousands) to cover your first month of bookmaking.
Follow us on the next part of this lecture, to continue exploring the ins and outs of becoming an agent.