Starting up a local bookmakers

TheManChild

Hi all,

Firstly this is only a thought and recently has been tossed about my family home on a few occasions so be gentle

In my town there has never been a Bookmakers and a large a part of that trade (if you'd like to call it that) goes to the next town, roughly 12km away. The one in the other town is a small firm bookies and the nearest big name bookmaker is the guts of an hour away. The town is not bypassed or anything and has a huge passing trade daily.

I myself have no experience in the industry apart from being a customer but I'm inquiring on behalf of my father, who owns a business premises lying vacant since I can remember (but kept very well and suitable for the likes of a bookies, dry cleaners, pharmacy etc). With no rent cost would this type of business be advisable? There is the issue of someone to run it but my father maintains he knows a women who ran one for 15 odd years.

An idea that may seem crazy to many of you but I'm willing to take any criticism on the chin, ya gotta start somewhere! Any information would be greatly appreciated Thanks!

jimmii

I'm pretty sure it is very hard to get a license these days there are so many bookies out there (even if there isn't in your town) that I think they don't hand them out as readily as they once did. You would also need shed load of money to be able to cover bets or else have some very restrictive terms on what bets you will take. Contact SIS and Sky to see how much their commercial packages are. I would imagine to get racing feed plus data feed plus screens display from SIS is very expensive and without that you really don't have a business.

Also I definitely would advise trying to get some experience working in a betting shop. I use to work in the head office of one of the big players and as part of that I started out with a few weeks working on the shop floor to see what it is like out there. There are so many dodgy people trying things on in shops every day you really have to know how to spot them or they will clean you out.

UBERTILT

Have you considered what your possible exposure may be in relation to turnover. eg. how much of your total bankroll will you be prepared to risk at any time to avoid going broke?

Why not open an alternative internet cafe which allows customers to gamble online. You could break even with Food and Beverage offering while making a tidy sum from an affiliated site. PM if you would like to hear more.

jimmii

UBERTILT wrote: »

Have you considered what your possible exposure may be in relation to turnover. eg. how much of your total bankroll will you be prepared to risk at any time to avoid going broke?

Why not open an alternative internet cafe which allows customers to gamble online. You could break even with Food and Beverage offering while making a tidy sum from an affiliated site. PM if you would like to hear more.

I thought about doing this for a long time. I use to play poker full time and would have loved to have somewhere to play other than at home on my own. In theory it should be something that works it allows punters to be in a shop with other punters like at a bookies but allows them to be able to be in every bookies at the same time getting the best prices available.

UBERTILT

Small world I ran a poker club like this in London. With a site like Oddschecker you could guarantee the punter the best possible price while still recieving a monthly affiliate payment from multiple sites. Some comfy chairs, a few flatscreens and some PCs are your only real costs.

I'm sure it can be done very well for 10K

jimmii

I just moved back from London I use to play at the Fox was sorry to hear it was bought and them promptly shut down it was a fun place to play and nice not to have to be surrounded by slot machines to play live!

UBERTILT

Loved the Fox TBH. Shame what happened but poker (live and Online) has died a death since Black Friday. I think a premises with a mix of slots, casino, poker and sportsbook offering will do well.

I suppose catchment area is important to OP but if you build it(and market it correctly) they will come. I opened a Gaming Club in a disused niteclub some years back and had a quiet opening week.

Only when I got out there telling people where we are did I see the operation pickup. We regularly opened at noon and didn't close until 6am.

jimmii

Yeh online is so different these days I remember the old days of Paradise Poker and 2/4 was a massive game! Live poke was fine before people started to have a clue the people who played for fun didn't mind losing didn't care about the rake and the winning players made enough from the weak spots that it more than made up for the massive rake being charged.

Agree the area of something like the internet bookies cafe needs to be spot on. It will take people a while to get used to the idea but I think in the right place it will quickly catch on. Give away some free snacks or something to get people through the door then your job is to keep them there with the better offering.

lurkballs

as someone who works in a bookies in a small town i would highly advise it
before someone else does