Bookmaking can be a very lucrative business proposition given the ever-growing popularity of betting on sports, but you have to know what you are up against as far sustaining long-term growth and success in this chosen field.
Most sports bettors today probably place the majority of their wagers with one of the huge online sportsbooks that exist in today’s marketplace. Along with these industry giants, there are hundreds of other online betting sites that are set up to take people’s money to bet on the games.
The first thing you need to do as far as starting or building your own bookmaking business is to establish a point of difference between what you have to offer and your competition.
The best way to do this is to build your business from the ground up with as many customers as possible that you already have a personal connection with.
Cold calling for customers through outside marketing efforts is still a big part of the bookmaking game, but if you develop a solid base of customers through your own internal networking efforts, you will have a steady base of income and cash flow to work off of.
Word of mouth and referrals are still the best way to attract additional business. It stands to reason that if someone is happy with your service, the more likely they will be to recommend these services to their friends and family.
Just think how fast you could expand your bookmaking business if your received five or even 10 new customers from each of your existing players.
Even if you only had five people placing bets with you; that could quickly turn that into 25 to 50 customers through a solid referral system.
One way to encourage this kind of internal, organic growth is to offer incentives to your existing customer base for any solid referrals they bring in.
Once your business does get off the ground, an extremely important next step to becoming a full-service bookmaker is to align yourself with a quality Pay Per Head service.
These companies charge a weekly per head fee to handle the administrative side of the business. A price per head service can provide a call center and interactive website that puts you on the same playing field as the big boys in the sportsbook industry.
None of those companies have brick and mortar locations so their entire marketing presence is through their website. PPH companies with the latest state-of-the-art gaming software and technology will build you a comparable website that caters to your individual needs.
You can easily create the look and the feel of a bookmaking business that is on the cutting edge of the industry with a website that may be complex in its design, but very user-friendly for your customer base.
Your PPH service can also provide a wealth of information that is vital to the day-to-day operation of your business with a series of different reports that are literally right at your fingertips through their sports betting software.
While this is a very important feature of this service, it is still up to you to use these reports to track customer activity, potential exposure, cash flow and anything else that helps to stay on top of your business on a regular basis.
If you are committed to future growth and success in the bookmaking business, your PPH service will give you all the tools you need to take you where you want to go.
A very important mindset to becoming a full-service bookmaker is to know that you can compete with the large online sportsbooks in this industry by matching everything they have to offer.
The point of difference is the same level of professionalism with the added touch of the personal one-on-oneattention to your customer base that cannot be duplicated by your competition.