How Much Does the Neighborhood Bookie Make
September 29, 2021
The neighborhood bookie or the local bookie is the guy that you know in your area that takes bets on sports. He pays a player when the player has a winning wager and he collects from the player when he loses. Most of the neighborhood bookies allow people to bet on a credit account.
A credit account is a similar concept to having a credit card. A player does not have to post up money upfront before they play, instead, they would get a set amount in a credit limit each week for them to make their wagers. So for example, if a local bookie gave a player 1k in credit limit for the week, then that player would have that amount to make any type of wager throughout the week. Then whatever the player is up or down from his bets that week, then that amount would be settled up with the neighborhood bookie.
The old school neighborhood bookie would do it the old-fashioned way of accepting wagers on sports with paper and pen, and verbally giving the lines to the players and then writing down the bets with the risk and win amounts. Then after each game ended the bookie would manually grade and calculate each betting ticket he wrote out for each player and add up the total wins and losses for each player. This was very tedious work that could take a lot of time to do, depending on how many players the bookie has and how many bets each player makes.
However now, there is a much faster and profitable way for the neighborhood bookie to make money from accepting wagers. Now the local bookie can get his very own online sportsbook website so he can offer that to his players, where they will each have their own unique id and password to sign in to the website and have a much larger selection of wagers to choose from.
The best thing is the local bookie doesn’t even have to worry about managing the website or updating all the odds. That is because he gets the website and all its features by paying for the service from a PPH company. These companies spend all the money on servers, customer service support representatives, tech teams, line managers, and everything else needed to run a 24/7 gambling website that updates all odds up to the second and grades all games as soon as they end.
Sure there is a fee for this, however, the average price is extremely affordable at $10 per active player a week, and considering all the time that will be saved for the local bookie, which can then be used to grow your business and gain more profitable gamblers it will earn the bookie more money over the long term. In addition, all the additional wagering options that you were not able to offer, but now are able to with the use of the pay per head service, will increase all the betting volumes for your players and lead to them losing even more money than before.
Lastly, it will be even easier to acquire more customers since a website is 100x more legit and professional than taking wagers by paper and pen. Online Sports Betting: What You Need to Know.
So with the right pay per head service, the sky is truly the limit with how much a neighborhood bookie can earn from booking action. Depending on how many players the bookie has, and how much they bet per game, and how frequently they bet will all factor into how much they can earn each week. But even a bookie with less than 10 players can net earn up to hundreds to thousands of dollars per week from using a pay-per-head service.
So if you are looking to become the neighborhood bookie for your friends and family don’t hesitate to get set up with one of the top-rated pay per head companies in the industry today.