The gambling lifestyle has come to stay and there is no going back. Millions of Nigerians bet on sport every week, some win, some lose but whatever is the case the betting companies always make profit. Every now and then we see new betting companies and shops spring up in our streets, that can only mean one thing: The business is paying.
From my research the betting companies and shops never lose because the number of loses by punters always supersede the number of winners by far. So, it is all win-win situation for the companies.
If you have the intention of starting a betting shop, the most important thing to do is to find an area with good population, sport betting is almost irresistible where you have people you automatically have customers and you make money.
So, what is needed to start a betting shop?
- SIGN UP WITH A COMPANY:
To operate a betting shop you have to sign up under a betting company. There is usually a fee although some new bookies( betting companies) allow you to register with them free.
When you register you become their agent and you operate a separate account under their name. Some betting companies in nigeria are: Nairabet, Betking, Planet bet, Bet9ja, Merrybet and many more.
- GET A SHOP:
This is where you have to be careful when choosing the location. You should go for an area with good number of people, as a percentage of this people will become your customer.
The size of the shop also comes into play as you need a space to contain your workers and the tools( e.g computer).
Don’t be in a haste here take your time because this business solely rely on the location of the shop, when you get this right other things are likely to fall into place.
- TOOLS NEEDED:
A typical betting shop has computers, printers ( thermal), internet, UPS, generating set, Television, cable and decoder. This is what is expected to run a successful betting business.
- YOU NEED SOME FITTINGS:
This is where a carpenter comes in, you will need some woodwork like a counter where the computers are kept, where you keep your television or decoder just about anything.
You can visit any betting shop closest to you with the carpenter to see the arrangement and to get an idea of what you want.
HOW MUCH IS NEEDED TO START THE SMALLEST BETTING SHOP?
I would say it depends on so many factors but going for the lowest of everything, I think 400k can go a long way at least get you started.