Bookie Skills Needed to Grow Your Business

By Dave Schwab

The rapid growth of the Internet sports betting business over the past few years has created a very lucrative business opportunity for anyone interested in running and managing your own sportsbook. Independent sports bookmakers with the right online bookie software program in place have an almost unlimited audience to market this service to and, with some hard work and effort, it is not all that difficult to create a bookie service that can produce year-round profits on a long-term basis.

There are some basic bookie skills that can also enhance your chances to be successful in what can still be a highly competitive business environment starting with the ability to focus on all the day-to-day tasks that going into a business of this nature while also having the presence of mind to also focus on the big picture. You need to have a clear vision of where you would like to be a few years down the road and then put together a business plan that has the ability to take you there. Too many independent bookmakers get completely caught up in the present moment of working in their business without also taking the time to work on their business.

Another bookie skill that you need to develop as part of the long-term success of your business is to not be afraid to take chances. Playing it safe all the time will only get you so far when you are on your own. You have to be willing to take some chances here and there and always keep in mind that there is nothing wrong with making a few wrong decisions along the way as long as you learn from them and move on. Nobody has the ability to change the past, but we all have the ability to impact what goes on in the present and the future.

Gaining a solid understanding of how your individual players bet on sports is also very important when it comes to being successful as a private bookie. An outside service might set you up with all the betting lines you need, but it is still going to be up to you to move those lines and change your offerings to best suit your business needs. If you know that the majority of your college basketball bettors tend to lean toward home favorites when it comes to nationally ranked teams, you need to react accordingly to move that edge in your favor. Fine tuning this skill could take some time, but you always need to be completely in tune with your entire sports betting customer base to try and stay ahead of the curve when it comes to the daily and weekly action coming in.

The best private bookies in the online sports betting industry did not get there on their own. Somewhere along the way they had help from someone that knew just a bit more about the sports betting game than they did at the time. You may feel like you are on your own since you are running your own operation, but you should try and establish an outside network of friends, colleagues and subject matter experts that can provide the necessary guidance that everyone needs from time to time. It never hurts to try and apply a bit of a ‘team concept’ to making decisions for your solely-owned independent bookmaking service.

One of the most important skills you need to be successful as a private bookie is the ability to communicate with everyone you deal with in the course of running your business. While this is especially true with your betting customers as part of the high level of personal service you provide, it also pertains to your online bookie software provider as well as any other outside services you employ to help keep things up and running.