How to become a legal bookie?
How to become a legal bookie? Anyone who wants to become a bookie shouldn’t just settle for that. You have to become the best bookie and, also, a legal bookie. That is what will give you the necessary prestige to transform your business into a beacon that leads bettors to a safe harbor: your safe harbor.
When someone is going to associate with any business, the first logical step is to do a background check to see how legal the person you are going to work with is. Keep in mind that if you are caught in any illegal operation, you will not only lose money, but you may also lose your freedom.
For that reason, we are going to leave you with some elements that will serve as a guide to know how to become a legal bookie, worthy of prestige and recognition by the competition and the market.
Find a local attorney
Each country has its laws, local and national. Especially countries as big as the United States, for example, have laws in some states that don’t apply in others. Therefore, the first thing is to investigate the law of the city where you are going to operate and see if it is possible.
Next, the wisest thing to do is hire a local attorney. Hire someone who has practiced there the longer, the better. Also, if he has also worked in the bookmaker sector, so much better for you.
Why a “local” attorney? You may wonder. It happens that these lawyers are up-to-date on the legislation existing where they practice. No one will be more prepared than that, no matter how hard they try. The local lawyer will know the legal insides of his city. Therefore, if you want to know how to become a legal bookie, this is the first step: hire it.
How to become a legal bookie? With a secure funding
No one becomes a legal bookie without a secure funding. Every business, regardless of its type, needs capital. Some more than others, of course, but they need it. Bookmakers aren’t the exception.
You cannot start operating without capital to support your operations and investments in the short and long term. No one will be able to tell you for sure when you’ll start generating profits, so you have to secure the necessary funding to operate for a while.
You don’t only have to guarantee the payments of your clients every week; you must also pay the contracted services and the other expenses that you’ll generate for a while. If you are late or miss a single payment, whatever it is, you are gonna start to lose credibility and customers will let your sportsbook empty.
Get the best technology
What do we mean by getting the best technology? We live in a digital age, so you have to get the best software and hardware on the market in order to provide the best service to your customers.
Of course, it has to be the best software with legal and certified support (or with the possibility of being certified) to run in the city or country where you want to operate. It doesn’t matter how much do you want to become a legal bookie, you need legal software. Just to recommend one: Pay Per Head.
Pay Per Head has a presence in several countries on five continents and continues to expand. It has been certified in countries as different as the United Kingdom and the United States, for example. This means that you have to contact the software provider and see if they are operating or can operate in your country.
Before getting the software, you should see if it meets the main necessary requirements. Among these are processing capacity, 24-hour technical support, customization capacity, and the possibility of integrating multiple payment methods.
Making a name for yourself: this is how to become one, a legal bookie
The three steps above will give you legitimacy. Of course, they legitimize your name. However, to become a legal bookie, the world must know you, no matter how. For that, the main thing is to create marketing strategies, digital and outside the digital world.
You must give those first customers the most perfect treatment in the world and get them to make good reviews and recommend your bookmaker.
Create your profiles on social networks and start to perform the SEO positioning of your website. Then, design several SEM campaigns to accelerate the positioning and go even further. Nothing you invest in making your name known to the world can be considered as an expense, but as an investment. If for every thousand people who see your advertising, one hires your services, it’s a victory.
Of course, always remember that every advertising campaign has to be accompanied by strong and serious work to back it up. If you say you are the best, you have to prove it. Honesty is vital in any business.
Pay on time
We had already talked about this a bit earlier, but since it is a very important aspect of becoming a legal bookie, I think we should expand on it a little more.
In essence, your business boils down to receiving money from bets and paying winners. Of course, for the business to flow correctly, neither of these two steps can fail. The first is not up to you. If the player doesn’t deposit the amount of his bet, it will not be valid and even if he wins, he or she will not be able to collect it. In the world of online gambling, this isn’t a problem, since you have to deposit the money first.
However, the second step, paying the players, is totally up to you, be it at the online or physical bookmakers. If the commitment to pay is to make it in 24 hours, you cannot take another minute. On the contrary, the faster you pay, the more reliable you’ll be. And, of course, the faster they will redeposit the money on new bets.
Win customers
This is how to become a legal bookie for real. One thing is to attract customers, and another thing is to retain them and make them yours. As difficult as it is for you to win new clients when you are just starting out, after a while, you’ll see that it will be easier and easier to do it. However, something that is never easy is being able to retain them.
Only welcome bonuses and promotions for games, permanence, or events are not enough. You must manage to give a personalized treatment to each one of them, in the way possible. Find out their tastes, their streaks, make proposals, sales, etc. Make them feel at home. Make them feel like your sportsbook is their home too.