Learning how to become a bookie has a lot of facets. Of course, one needs to know about betting and gambling in general. From spreads to prop bets, it’s a bookie’s job to know how to set these lines, and how to win money from each bet. This also means that a bookie has to know about sports. After all, it is the source of the wagers that you will be offering. Another facet to being a bookie is learning about the other forms of betting, especially the new ones. While learning about esports and Daily Fantasy Sports (or DFS) can sound intimidating, its easier than it looks. Here is our guide to Daily Fantasy Sports.
A Basic Guide to Daily Fantasy Sports
DFS is similar to sports betting since you are basically betting on a sports game. But DFS veers away from standard sports betting as you are playing with a fantasy league. There are a lot of DFS options, from football to basketball. You can win from DFS in two ways: one, from tournaments, similar to what you can find from tournaments from the best bookie pay per head providers. However, in DFS, it is called Guaranteed Prize Pools, or GPP. These have more entries, and the prizes are not equal. The payout will be based on rankings, so the 1st place will get a higher percentage of the win. Usually, prizes are given to the top 20%.
Next would be Cash Games. If your online bookie software also offers an online casino, then this will be a bit familiar to you. The term is actually borrowed from Poker. But these are head-to-head contests. There are also variations such as double up, triple up tournaments, as well as 50/50 contests. Here, around half of the entries win prizes, usually double of what you bet. There is less risk here, but, as with sports betting, less profit as well.