Are You on the Business Side or Competitive Side?
As a bookie, you most likely assume that other bookies are the competition.
While that’s true, bookies work with each other a lot. You don’t need to look at all bookies as your competition. There are business deals and other arrangements that can benefit both sides.
You want to be competitive with other bookies, but you should remain open to working with bookies when it can be beneficial to your business. Avoiding all bookies is limiting your business’s potential.
Ways to Work with Other Bookies to Benefit Your Business
There are numerous ways a bookie can work with other bookies and it is beneficial. Here are some of the most popular ways bookies work with each other to give you some ideas.
Remember, not all bookies are competitors and you should find ways to work with them.
- Laying Off Action: Most pay per head services will have a layoff account, but it’s beneficial to build up your own contacts as well. Laying off some of your action with another bookmaker can be a win-win, as both bookies are able to balance their book.
- Taking on New Players: Some bookies only operate during the football season (NFL/CFB) and close up shop until the following year. These bookies want their players to be treated well the rest of the year and will often send their players to a bookie they trust.
- Sharing Data: Bookies will often share various data with each other. For instance, one way bookies collaborate is by sharing databases on sharp players. You can cross-reference these player databases to make sure sharp players aren’t signing up with your book.
- Learning the Business: If you’re a new bookie, working with experienced bookies can be beneficial, as they can explain the business better than anyone else can.
Even performing some grunt work with an experienced bookie can help get you in the door.
Working with Your Competitors Is Smart Business
As long as you’re going to benefit from any deal, working with your competitors is smart business.
Just make sure you’re not being taken advantage of. If a deal doesn’t make sense, don’t do it, but avoid getting into the habit of looking at all bookies as your fierce competitors.
It’s ok to be competitive, but don’t limit your business. Befriending another bookie may not payoff for months of years, but the bigger your network, the more opportunities you’ll have.
Starting a sportsbook is becoming a popular new career. Billions are wagered annually and it’s no longer as taboo. The biggest sports news networks blast betting ads everywhere nowadays.
While this is a competitive business, there are ways to work with other bookies.
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