How’s a bookie’s business set up on the inside? How many employees will need to be hired? How to deal with dishonest players and attract honest ones? These and many other questions are of concern to beginner bookmakers. We will try to answer at least the most important.
The bookmaker’s scheme
As a rule, an organization consists of the following departments:
financial;marketing;analytic;security service;support service;ground receiving points.
This does not mean that to start your own company you will need to hire a lot of employees and put a lot of money into their maintenance. Firstly, company specialists often combine several roles. Secondly, most of the functions of these departments are outsourced.
If you buy a ready-made solution (as with the Betronic Software platform), you do not need your analysts and security service. And even the support service in most cases. Marketing can also be outsourced. The only thing left to do is to develop bet shops.
The legal status of a betting company
Countries have different attitudes towards bookmakers. In this respect, they can be conventionally divided into three types:
bets are illegal, activities are blocked;bets are illegal, but no action is taken;bets are legal.
The easiest (but not always the most profitable) is to work in countries where bookmakers’ activities are officially allowed. The most difficult is in countries where bets are not just prohibited, but all activity in this direction is strictly prohibited. Thus, having invested in the promotion of the site, you may face a blocking domain.
In terms of players, companies with licenses are more reliable. They will pay for the winnings, because otherwise, they may face problems. But illegal bookmakers may offer higher odds. Also, sometimes players simply have no choice.
Where does the profit come from?
The main advantage of the bookmakers’ business is that the company gets to profit from all the players. Both from those who have won and those who have lost. All that remains is to increase the number of players and the average bet.
To do this, you must already invest in marketing. It is on attracting new users (and keeping the old ones) largely depends on the financial performance of the company. You can attract players in a variety of ways: offer them favorable odds, attractive bonus program terms, high limits of winnings. It is also important for players to be able to get their winnings as quickly and easily as possible.
It is also important to identify players who are too often on the plus side in time. These can be either arbitrators or professional bettors who are well versed in sports disciplines.
Why get rid of such players, because the company still profits from them? The fact is that if the same users win more often than others, the other players on average winless. And the court becomes less attractive for them.
How to make the site unattractive for professional players? It is enough just to lower their betting limits. Profits fall by orders of magnitude and it is easier for a professional to go to another bookmaker.
Preparing sports lines
Only large companies nowadays have their staff of analysts who form the sports line. Small companies use this data to buy access to it for a small fee. It’s much more profitable than keeping your staff of analysts. It also reduces the likelihood of making a mistake.
All companies keep track of their competitors’ sports lines. This is done not only to track the attractiveness of individual matches and championships. But also to avoid so-called “forks”. This is a difference in coefficients, allowing some players to earn at any end of the sporting event.
Large companies can afford advertising on television and radio, in the media and on major Internet sites. They sponsor championships by placing their logos on both the sports arena and on athletes’ uniforms.
Small companies choose context advertising, promotion in social networks (Instagram, Tiktok), local promotions. Often the expansion of the bet shop network gives the greatest benefit in terms of revenue increase.
The results of
For small companies, there are ready-made solutions that allow you to give most of the functionality to outsource. To quickly reach profitability, you need to focus on marketing. And, both online and offline. Off-the-shelf solutions help you start your business quickly, at a minimal cost. This is the solution Betronic Software company offers to all its customers.