How to Open a Betting Shop in 2019-2020, How to Start a Bookmaker Business
The industry of the bookmaker business is one of the largest in the world in terms of turnover of money. The net profitability of the bookmakers industry, according to them, is from 7 to 15%, although, in fact, most likely, there may be much more.
Before you jump in to this business, first you need to decide on which indicator of profitability you are targeting. Unlike other business niches, the profitability of bookmaking may not seem the biggest - up to 15%. This means that with a turnover of 1 million, the owner will earn 100-150 thousand. But in fact - this is one of the most profitable areas of activity. Let’s analyze why is it so.
The relevance of the bookmaker betting shop
Nowadays, the opening of a betting business (even with a small number of betting shops) is a profitable business. You can successfully invest with a great prospect for years to come. There are no legal alternatives to this, so for those who want to make a profit in this way - this is a good opportunity for further development. Various sports competitions are held every day, and in the case of virtual games - up to as many as 300 or more matches per game per day. Bookmakers give people a lot of chances to make money by placing bets and the industry itself is growing every year. So this option is more relevant than ever and practically safe.
Benefits of earning money in this business:
- The possibility of a really rapid increase in the initial capital;
- Earnings in a short period of time;
- You earn money legally and honestly;
- Relatively small initial investment;
- Modern and secure management system from MOHIO, which allows you to multiply profits and a wide range of other systems.
Equipment for the bookmaker betting shop
All the necessary equipment for starting a bookmaker’s office is not so expensive and you can easily buy it without pouring many thousands dollars into it. We give for example the requirements for equipment from MOHIO.
Minimum technical requirements:
- Display 17” (15”) TFT Screen (anti-glare glass fitted)
- Touch Screen 17” (at least 15”)
- Ram: 4 GB
- CPU: 2.2 GHz dual core
- Hard Disk Drive: 160 GB
- Graphic Card: 2GB
- Certification: 2x NVIDIA - S-Video, VGA, DVI-I out
- Video Card should have a lot of VGA/DVI/HDMI/...
Thermal printer (print width 80mm)span>
STAR TSP 100
Posiflex (6800, 7000)
Epson (TM 88)
Barcode scanner (should support code 93 and 128 in default)
Office-space rental and staff for opening a betting shop
To open the bookmaker betting shop, where people will place bets, a room with an area of 20 sq. M is suitable. And with a minimum budget it is possible even from 10 sq. M. The place must be chosen with an opportunity to accommodate at least one workplace with a table and a computer for a cashier. Accordingly, at least 1 employee - cashier should be in the workplace. The rent should not be high, there is no need to spend on this level of profitability.
Tips for office-spaces selection
- first floor, front of the street, not a residential building;
- preferably a popular and passing place.
How a bookmaker makes money on bets
The rules and principles of the bookmaker office are simple: every day, the betting shop presents its lists of quotes for various sports (including virtual) events. In each of them has a different outcome options. Any of these outcomes has its own specific coefficient by which the winnings are calculated. In accordance with these coefficients, the bookmaker accepts bets and then pays out to the winning players who have guessed the result, or (more often) makes a profit on the losers.