The Australian online gambling industry is an industry that brings in billions of dollars each year. Because of this, a lot of corporate bookmakers are looking forward to cash in a portion of those profits. The financial rewards of being a bookie make it enticing for people to pursue a career as a corporate bookmaker. If you want to be a bookie, here are some things that you should know:
Work as a Bookmaker
Bookmakers can either work online or off-course. As a betting shop manager, you will be in charge of the betting offices and oversee all of the betting shop activities. When the shop is crowded, you may have to fill in some of the roles of a cashier. As a bookie, you may also be responsible in generating profits and loss reports, making an appearance at meetings and organizing your staffs.
Usually, on-course and off-course betting shops have a fixed business hours. This may be different if you’re working as an online bookie. Nonetheless, as long as you introduce solid players to the business, you’ll hall in plenty of cash.
What Makes a Good Bookie?
To do well in this business, you have to be a good communicator. You should know your way into convincing people to make a wager. Being good in math will surely come in handy especially in making computations. You can use your actuarial skills in collating and analyzing statistics on certain sporting events, computing for probabilities, and then adding your premium for profits. Having same basic knowledge on sporting events and betting regulations, leadership skills and organizational skills will also help you make headway.
Pros and Cons of the Job
Aside from the financial rewards, company benefits make it attractive to work as a bookie. For instance, William Hill offers attractive incentives and rewards to its staffs. These include discounts on dental plans, restaurants and retail shops, and free bookmaker bets. Working as a bookie also serves as your first step in building your own sports betting empire. Take a look at Bet365, BetFred and Victor Chandler. They all started from scratch and virtually nothing.
Probably one of the best known cons of this job is the stress associated with it. Yes, running a business and getting involved with it has its own share of stresses; but this one’s different. There are taxes (like a lot), cash flow management problems, concerns on how to stay afloat in a cashless world, expanding your client base, and the likes. The fact still remains that a number of bookies have lived in a turbulent and sometimes tempestuous life.