You know the best thing about being an online bookie apart from the money? It’s being able to live wherever you want and spend time traveling to countries around the world if you desire.
Keep in mind, the regulatory framework varies by country and in some cases, it’s not legal to own an online bookie in Bookies around the world in your country, but there are thousands of bookies operating in most countries.
Since you’ll likely be operating in a “grey area”, here are some tips to remain in business.
Tips for Staying in Business as a Bookie
The most cost-effective way to launch a bookie without a license is to use an offshore pay per head (PPH) company. Many of them operate out of Costa Rica where being an online bookie is legal.
All of your data will be hosted on offshore servers to keep it secure.
Here are some more tips to help pay per head bookies stay under the radar:
● Use Cryptocurrencies: Bitcoin (BTC) is the most popular and you’ll likely need to use that for some players, but there are numerous cryptos with better fee structures.
It’s getting expensive to send BTC, try utilizing some alternatives like Litecoin.
● Vet Players: You don’t want to accept everyone that wants to join your sportsbook, especially if you’re dealing with local clients. Use word of mouth to grow your sportsbook organically.
It might seem like rushing betting sheet growth would lead to more profits, but if half the strangers you bring in don’t pay, you’re going to be the one left holding an empty bag.
With local clients, you want guys who will remain discrete and that you can trust.
Operating under the radar with local clients can be tough. A single disgruntled client can not only ruin your bookie business, but you can even get into some trouble potentially.
● Don’t Boast: If you make $40,000/year, you can’t start driving around town in a new Escalade. Doing anything like that is going to draw a lot of unwanted attention.
You need to be cautious about spending more money than you make as a bookie because if the tax authorities come knocking, you’re not going to be able to explain where the money came from.
● Maintain Anonymity: You don’t need to use your full name, address or even phone number to sign-up with a PPH service. It’s possible to remain relatively anonymous with cryptos also.
Avoid keeping too much data on your computer. You can access the data offshore through your PPH, keep it offshore. The less of a paper trail you provide, the safer off you’ll be.
Start a Sportsbook From Anywhere
There are no country restrictions when it comes to joining a PPH service. You can be a bookie from anywhere in the world. Better yet, your clients can also come from around the world.
There aren’t too many other industries with such a huge amount of potential clients.
Remember, start small and focus on growing safely. Bookies will be around until the end of time and there’s always space for new entrants. Even a small active 10-30 player sheet can be very profitable.
