College students also place their bets on the teams or players they are rooting for in their college days. But some students opt to be bookies for their fellow students than be on the sidelines betting along with the others. Some talented student might want to learn how to be a bookie in college. Bettors turned bookmakers with the realization that the economy on the other side of betting is more lucrative than depending on your hard earned wager in a game of luck (or chance).
At some point in a college bookie’s life, there could be a motivational factor that triggered the desire of a college student to learn the tricks on how to be a bookie in college. Some college students started off as lowly bettors till they got hold on how to be a bookie in college. Betting on sports may win college students some extra bucks to spare while in school, but that is not always the case. Unless you are a seasoned gambler who can read the sports statistics professionally, then you might have a chance to have a steady income stream. There is more to gambling than just being a player.
Just by doing the math, an online player tends to lose more money in playing against the odds in a game of chance. He loses a lot of money and realizes that the economy on the other side of betting is greener from his standpoint as a punter. He learns how to be a bookie in college and migrates to the other side which is more lucrative than being on the sidelines throwing away your cash. The player transformed bookie is now complete.
What makes a student want to learn how to be a bookie in college
- First of all, a college bookie wants to have additional income to pay for his expenses through college. Unless you come from an affluent family, most college students have a hard time putting themselves through. Educational funding is attainable through loans, scholarships, or perhaps some generous soul who is willing to cover your college expenses till graduation day. Being a college bookie could be the passport that will pay for your education.
- College bookies doing great in their business live a more lucrative lifestyle than their schoolmates. They would have enough money to splurge around off and on campus with classmates and friends. They would buy things they can never afford before. But with the money they make in the bookmaking solutions business, they can afford to have those luxuries easily. In short, they enjoy taking in the bets in their bookie business more than placing them in a game of luck.
- Another reason why a college student wants to learn on how to be a bookie in college is that they can pay their way through college with the money they make. The way to make money out of the betting industry is by receiving the gambler’s bets, not placing your wagers. The money your bookmaking business generates is the way to pay for your education in college.
With the basic knowledge on how to be a bookie in college, coupled with an experienced mentor, will make the booking business take off. You can bank on your knowledge of the information passed to you by sportsbooks against the awareness of your bettors. This can help create your betting lines and points spread offers when you have the data pertaining to the games beforehand.
The setup also makes the bookie a winner without shelling out money for betting. The “vig” or the 10% that the bookie charges is the sure win for the oddsmaker. If a player bets $100, he wins a $100. But if a bettor loses, he pays $110. This betting line already earns the bookie $10.
What a student bookie needs after learning how to be a bookie in college
- To start the business after learning to be a bookie in college, recruit some gamblers to fuel up the operations. Begin with relatives, close friends, schoolmates, and co-workers to place their bets through your bookie website. They will ignite the first stream of income you will receive.
- The next step is to find capital to fund your college bookie business. A college bookie’s income will come from the 10% acceptance fee which the bookmakers charge to bettors. This commission fee is the “vig” that is normally in the charging process of the bets received. You will need to have funds to cover initial betting actions on both sides.
- With the reserved cash on hand and your bettors ready for action, register on a pay per head software company that you chose for your betting operations. Granting that you opted for PPH software entity, be sure that the company has bookmaking solutions that can help you earn from the business.
- Once your registration is complete with pay per head software solutions, your business is good to go. The online bookmaking solutions will take care of the load most bookies carry on their backs like the burden of doing the record and documentation. The PPH software will also be accepting your customers’ calls, inquiries and assist them with their needs in their wagering activities.
The risks of being a bookie in college
College students know that by learning on how to be a bookie in college and doing the business is wrong and illegal. You may ask these bookies in college: “Is it worth the risk?”. Most of the college students that became bookies and paid their way through college would answer “Yes.” They can get away with their involvement in a bookie business with minor to no charges filed against them. It is a risky occupation but college bookmakers say that it is worth it.
- The bookies in school say that there are no real victims in this illicit trade, only the gamblers, and their money. Punters would someday complain that their calls go unanswered. It is because that their college bookies would get caught and temporarily lay low before he goes online again to continue his lucrative bookmaking business.
- Another risk of learning how to be a bookie in college is when your operations are in a full run and some of the bettors cannot pay what they owe you anymore. It is easy for gamblers to make a call for a bet they cannot pay when they lose. This is a risk of money and friendship that college bookies have to face. The reality is, you have to collect the money from people who may be close to you or risk the losses that are due from your bettors. You may have to chase them wherever they are in order to collect debts for your business to thrive.
Observe your players’ betting behavior. You will notice the pattern of a conservative gambler transforming into a desperate bettor. This a behavioral betting a bookmaker must learn on how to become a bookie in college. Bea friend, a confidant to your bettors. Relationships matter so as to have more chances of being aid than not when a player is down on his options.
- Bookmakers also learn how to be a bookie in college, at times, the hard way. Some bettors jack up their wagers on credit. Credit is risky business and it is easy to call on bets, hoping to chase the money lost in the last wager. But if the betting creditor loses some more, then he will be in deeper problems with loses piling atop another.
The lesson is not to promote credit on your bookie site. That is something you have to consider how to be a bookie in college. Other bookies set a standard limit to collect an accumulated debt. Problem is, when collection time comes, debtors would somehow develop the amnesia sickness. That is a risk for the oddsmaker and one of the hard lessons learned on how to be a bookie in college.
One college bookie learned on how to become a bookie in college is to recruit gamblers from a fraternity house. College bookie then made an agreement with his fraternity protege to involve his brothers in the house to bet with the college odds master promising a 15% commission on the losses of his recruits. It was an effective setup on the collection activity with the brothers of the house.
Bookies in college enjoy what they were doing when they were in school. After learning how to be a bookie in college and had a successful bookmaking business, they came out of their college education unscathed and are ready to face the world with more experience on how to smartly deal with economics.
Sportsperhead would be a welcome PPH company to these experienced bookmakers fresh from college. With the operating system that Sportsperhead has, it is an ideal online betting platform to be with the betting industry.