Stage 1. To Set Up a Bookmaker's Facility ... Is it Worth it?

Stage 2. License for the Betting Business

Stage 3. The Betting Office

Stage 4. Sportsbook Software

Stage 5. Betting Line

Let Us Summarize

In this article, we are going to tell you how to set up a bookmaking (bookie) business. For example, you can contact Bett-Market. Experts of the firm will give you an opportunity to buy a bookmaker franchise.

Betting business in Ukraine

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A franchise can be called a top choice for a burgeoning entrepreneur, who receives from the franchisor advanced betting software as part of an affiliate program, as well as corporate identity and the right of use of the original brand, and all these options are at a reasonable price.

However, you can also create your own, unique bookmaker's office. All it takes is to receive a license, buy betting software, etc. We will discuss this issue below.

Stage 1. To Set Up a Bookmaker's Facility ... Is it Worth it?

The first rule of thumb is to stop indulging in illusions and begin to take a reasonable view of things. The popularity of sports betting is still growing, but let us not to give up on risks. It is important to premeditate all potential risks and losses. In case you have already decided to create a betting office, you will have to understand that without regard for the investment amount, you, as an operator, will receive no more than 10% from it.

Now let us look at implementation phases of this business in order to have an idea of how to become a bookmaker in Ukraine with minimal investments. We advise against dealing with such a serious matter out of curiosity. Such a business has a thing about profanation: here every mistake will cost you dearly. And this is not a campfire story, but a harsh reality. Think better of how far you are ready to go, and can you face all ups and downs with peace of mind and coldness of head?

So, the decision is made, and now we are ready to go on.

Stage 2. License for the Betting Business

You need to understand that this stage is very important. A first-time entrepreneur will have an opportunity to skip it if he is going to buy bookmaker franchise. Within the framework of the affiliate program operators can use the partner brand, original design, sportsbook software, a line of sports events and constant support and consultations. A franchisor (the bookmaker's office) helps its franchisee (partner) to grow and teaches him all the intricacies of the business.

In fact, the license is needed only during the creation process of a betting shop. A businessman, whose aim is to open his own network and attract partners, really needs to receive an official permit. However, when it comes to a betting network of bookmaker's offices, it will be necessary to get a license in Ukraine. For this purpose, you should contact local licensing authorities and receive more information.

Speaking about how to set up a bookmaking (bookie) business: you have to keep in mind that in such case chances for obtaining a license will be much higher. There is such a thing as offshore zones, where licenses are much lower in cost. To work legally in your country or to look for ways to save money – it is up to you to decide.

Stage 3. The Betting Office

The betting office in Ukraine

Regardless of where your bookmaker's office is situated – in an online or offline environment – you will still need an office. It is a key factor, and the stability mostly depends on it. The most important thing for bookmakers and, in particular, for online bookmakers in Ukraine, is the line of events.

It is not enough just to buy betting software because the staff should also include:

  • analysts (if it is a start-up company, it should not have a live betting mode) – at least five people;
  • assistants who will be responsible for the capability of each bet – at least two employees;
  • specialists who will be responsible for signing contracts with clients – at least two people.

With this team, you will be able to maintain midlines. It is important to consider that at the moment there is no profession that is called “bookmaker”. You will have to hire people from other offices or to train betters.

Large companies have analytical centers with hundreds of professionals working in them. A young businessman can buy a line from famous bookmakers. Of course, a good line can’t be cheap. As a matter of fact, when you decide to buy a bookmaker franchise, you can get an original line of the franchisor with its coefficients.

Tasks that the beginning bookmaker's office should perform:

  • Quick and qualitative production of a line of events.
  • Filling the line with events that are of interest to the audience.
  • Quick perception of risks and rates.
  • Supports for betters and operational response to each request.

It is equally important to determine that the bookie software is user-friendly and multifunctional.

Stage 4. Sportsbook Software

The successfulness of the described business often depends directly on the betting software, which should have such characteristics as high-quality and reliability. Since the software itself is fiscal (it serves interests of owners of a bookmaker's office) and it fixes financial flows, it must satisfy the following requirements:

  • software must be reliable and have the highest level of protection;
  • software for your employees should be available offline;
  • bookie software should provide protection against collusion between cashiers and players;
  • ability to work in the online mode and presence of a single managed system;
  • the POS module for a betting shop should be intuitive;
  • availability of tools for an activity analysis;
  • software must regularly pass the technique maintenance.

Today betting programs are presented in all forms. Usually, a large bookmaker's office develops software independently and has a workforce that consists of programmers. Companies will not deal with the selling of such sports betting software. All that is possible is to get the software within the framework of the franchise contract (when you buy bookmaker franchise, you are given the branded software).

If this is not about a franchise, it would be better to buy bookmaker software from an independent company. An excellent option is the Bett-Market company. The development of the software for bookmaker's offices is a long process, which requires a professional approach. The firm offers to develop an original bookmaker script, create unique sportsbook software and bend every effort to make your business succeed.

We should also mention that it is not a good idea to buy a ready bookmaker script. Yes, the price of 300-500 dollars may seem tempting. Nevertheless, whatever one may say, you can’t cut corners on everything. The qualitative software is a guarantee for a prosperous business. Bett-Market offers a wide range of services and has many years of working experience in this area.

Stage 5. Betting Line

All online bookmakers in Ukraine have to take care of the betting line. Experienced gamblers immediately understand, who is the beginner, and who is an experienced specialist.

The main requirements for the betting line:

  • Timely updating.
  • Relevance.
  • An absence of unjustified risks.
  • Presence of all events that turn betters’ crank.

The betting line is considered to be the ace in the hole of a successful business, but not the only one. If the line is low-grade, the bookmaker's office quickly becomes out of business. In order to obtain a betting line, you can put together a team of analysts or rent such a line. Usually, the cost of rendering a daily line does not exceed $ 500 per month, but there are exceptions.

Let Us Summarize

Before opening a bookmaker’s office, it is necessary to look into the matter of every aspect related to this business line. Decide upon what your office will be – wide-sweeping (with low rates) or elite (with high rates). Remember that betters mostly prefer football, because it is now the most popular sport. Take care of the presence of reserve funds and replenish it constantly.

In case your purpose is to launch the betting business in two weeks, we remind you that you can make use of services of Bett-Market. This brand deals with the development of a bookmaker script and can help you choose the best franchisor, which is going to satisfy all your requirements and wishes.

When it comes to business, it is essential to choose a reliable partner. In cooperation with Bett-Market, you will have an opportunity to create a betting office, develop your business and please betters with qualitative software.

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