Online gambling has won over the hearts of many punters worldwide. Today, most bettors prefer wagering online to doing so at a physical casino, and the statistics show it. 

Within the realm of online betting, there is a very large pool of people dedicated to sports gambling. As of late 2021, the market size of sports wagering was 65 billion, and it is projected to grow to 135 billion within just 7 years. Because professional bookies get to keep 5 – 10% of all bets made, it is easy to see how starting a bookie business could be very lucrative. 

What is a Bookie? 

A bookie, or a bookmaker, is a person or organisation that sets gambling odds for sports games. A bookmaker receives all the losses and pays out winnings to the bettors. Online oddsmakers determine odds by studying the sports industry and taking into account various factors like the opinion of experts, online statistics, precedents, and new developments. 

In the past, odds were set by humans, usually sports enthusiasts who meticulously study the unique competitive atmosphere surrounding each sports event before setting the odds. Nowadays, gambling software is used to set the odds instead of human intelligence. It achieves this by mining relevant data from the databases on the internet and processing it. A prime example of these kinds of soft is Nuxgame software. 

What Makes a Bookmaker Stand Out? 

Several factors set certain bookmakers apart from others. One of those factors is the availability of options. Punters want to be able to wager on any sports event of their choice, whether it be local or international. This is why software with a wide range of options is so vital. 

Another thing that helps bookies develop loyal customers is how user-friendly their software is. The key thing for investors to keep in mind when planning a bookie business is to pick software that satisfies all the needs consumers might have. 

Step-by-Step Guide to Planning a Successful Bookie Business in 2022 

The easiest way to establish an online bookie brand is by acquiring the services of betting software for bookies. By using white label software, investors save themselves the hassle of building an industry-worthy bookmaking software from the ground up and enjoy massive profits without having to do all the technical work involved. 

The following steps outline the path entrepreneurs need to take if they desire to carve a niche for themselves in the sports gambling world. 

Research

There is a need for all-encompassing market analysis. The most vital questions that should be raised include:

• What are the most prominent needs among punters today? 
• How can one create a business model to meet these needs?  
• What geographic location represents the bulk of potential customers? 
• How does one adjust the business plan to satisfy the needs of bettors in this specific geographic location? 

Formulating a Plan

After the research stage, it is time to put everything that has been learned into action. There needs to be a strategy for managing the financial resources available and maximising profits. There is also a need to put a great deal of thought into the white label software that will be used, the payment options that will be available, and the ways through which the new brand will be marketed to potential consumers. 

Choosing a Betting Software

It is expeditious to choose software that possesses all the features required while remaining affordable. A bookie software should have over 60000 sports events for players to bet on, all the popular leagues, lots of languages, and an easy-to-navigate interface. 

To make it easier to increase customer satisfaction, white label software should also offer business owners analytics and other relevant data regarding the users. 

Final Thoughts

NuxGame ticks all the boxes for all the top features of good white label software. With over 70000+ sports events at any given time, a wide range of sports games, and exclusive odds, NuxGame brings to you all you ever need as a bookie brand. 

Kick-starting a sports betting business is not an easy task – it requires a great deal of planning and strategising. The main thing to always remember is to put customer satisfaction first and provide services that are right for your target audience.

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