Running any business in the most densely populated city in the US has its ups and downs. On one hand, New York has a wealth of opportunities. On the other, the level of competition is off the charts. When your business focus is becoming a bookie in New York, every day is a test in due diligence.
Becoming A Bookie In New York
And so the chance for reward and success in business can be magnified by hard work. When you pit it within the confines of the world’s economic capital, the line between going broke and getting your big break can be a blur. This is why Premier Per Head has put together a top 5 list of business practices that, when applied, can help you become the successful sports betting agent you’ve always wanted to be. So, without further ado…
#1 Don’t Gamble With Your Business
Most bookies get into the industry first as bettors and somewhere along the line realize they’re on the wrong side. Even though they change sides, a lot of bookies still face that last hurdle of leaving behind a gambler’s mentality.
This business works best when you treat it like a marathon.The get-rich-quick, sprint-mentality that so many gamblers have, just doesn’t work on this side. And since the house has built in advantages, its best to operate level-headed within those boundaries.
For example, one sided action is an all day pass on a roller coaster ride. You might be on the winning side, but it’s just as easy to see a major swing go against you. This is what we mean by gambling. Of course, events with New York teams are going to comprise a lot of your action. So it’s a good idea to establish ways to keep the financial swings to a minimum.
Becoming a booking means thinking like one. A bookie’s best strategy is to balance the action and know that at the end of the day, he’ll be the last man standing. Having the proper bookmaker software is imperative in fulfilling that goal.
With a competent pay per head service, like PremierPerHead.com, success is a matter of when, not if. And Premier’s built in features and alerts allow its bookies to analyze the numbers and make quick and better informed decisions on a minute by minute basis.
#2 Request References
At some point, to continue expanding your business, you are going to have to take on new customers. And since most bookies in the New York area are going to operate on credit, your never going to function totally risk free if you want to stay competitive. But you can minimize this by not taking on new clients blindly. If you have some kind of connection back to your newly acquired player, or a character referral it lowers your chances of getting stiffed.
There are always going to be low-character people that will expect payment Monday morning one week, then go awol the following when their chips are down. The trick is to weed out as many of these incidences before they ever become a reality.
#3 Watch Your Back Door
As you gain in reputation as a solid business and that word spreads throughout the Boroughs, you’ll inevitably draw attention from people looking to take advantage. They could be in the form of players or even affiliate agents.
You always need to keep track of any suspicious activity such as missing wagers, late action, odd adjustments or repeat IP addresses. It’s always best to limit authority to your affiliates and keep a line of communication open for any requests. One thing’s for sure in this industry, if you expose yourself too much, somebody is eventually is going to attack.
A great PPH sportsbook assists it’s agents in all aspects of oversight. That’s why a proactive service like PremierPerHead.com knows that becoming a bookie and being successful means limiting your vulnerability. With its experienced support staff trained to identify your weakness, Premier helps diagnose and investigate where suspected wrongdoings are occurring.
#4 Self Evaluate
When you offer your product, make sure not to overextend on your promises. The fraternity of gamblers is very tight-knit. If you get yourself in a situation where you can’t pay a player that had a great week, that word is going to spread and hurt your goal of becoming a bookie.
So, don’t overbook if you can’t afford to have a bad week. Eventually, you are going to experience a losing streak. Your bankroll should be able to overcome that. A good piece of advice is to keep a level head when you have your profitable weeks and set aside a certain percentage for one of those “rainy days”.
A better piece of advice, is to keep a tight leash on your wager limits. If you know you can only lose a set amount, don’t offer huge limits. There is nothing wrong with accepting the marathon mentality. If your clients are going to have a winning week, it should be because they really had to work for it.
#5 Surround Yourself With Experience
Part of what you are paying for with any pay per head service is the experience it has gained from working with many bookies from around the globe. There is a wealth of information that can be gathered from seeing multiple ways of running the same business.
Don’t be afraid to ask for advice and lean on this pool of knowledge. The industry is constantly evolving and staying with the newest revelations can help you keep a competitive edge in a big market.
With decades of experience, Premier welcomes those questions and understands that empowering it’s bookies means a greater chance of success and long term survival for all.
To review, any business will always have its obstacles. Becoming a bookie is no different, but doing it in New York can have unique challenges. Why not lean on one of the best pay per head sites in the industry?
PremierPerHead.com has extensive experience in the pay per head field and welcomes the chance to share all it’s learned knowledge with you on your goals of building a successful and profitable business.
We’re Your Ace Per Head Solution. We’re also the King and you need the King to show you how it’s done!