New Betting Sites & Online Bookmakers For UK Customers
The betting industry is a very versatile industry with new betting sites that are coming up every single month. The most important thing to check is if the companies you are considering have a UK gambling commission license. If they have then you are safe to gamble with them however it doesn’t mean that they are offering the best products, best odds and terms. After all, if you have some investors it is not very difficult to open a new online bookmaker or casino. Most of the new entrants are white labels which mean they do use third-party software, customer service and odds feeds. Surely the increase in competition is a good thing but it can make it hard for you to orientate amongst lots of operators.
This is where BestBettingSites.Online can help you as we do select the most genuine new brands that are able to offer something truly innovative. This is why we have created this page so that everyone keen to try a new betting site can get only the best. At BestBettingSites.Online we do review bookmakers fully highlighting all the pros and cons. We do go beyond the standard reviews that you might find on other sites as we do try all the betting sites with our own accounts before expressing our views. We do not just look at the welcome offers and free bets but we do analyse everything of betting sites like: payments methods, payout limits, cash out functionalities, live streaming availability, numbers of markets, customer support, website design and usability, mobile betting and a lot more. Our mission is to help our visitors to find the best betting brand with independent reviews without trying to convince anyone to sign up for a bookmaker that won’t suit them.
Everyone likes to try new things as this gives a breath of fresh air to everyday life. In sports betting trying a new bookmaker can allow you to take advantage of a welcome promotion. It is also suggested to have multiple accounts with different companies especially if you normally bet on different sports: this will allow you to compare the best value on a bet by bet basis.
This is the reason why we have created this page where we are going to display only the new betting sites that have passed our approval. So instead of showing you a massive number of sites that have not great qualities we have done a selection of what we truly believe are the best new bookmakers and also explain the reasons why we have picked. them. As we believe in transparency we have also indicated the criteria that those sites are meeting to be listed on this page.
To be able to judge better a betting site it is useful to know what are the requirements to set up a new betting site in the UK. You will find all those information in this page so that you have it clear what are the processes and challenges those companies need to go through before they can start operating.
As you will know the sports betting industry is to continue evolution: for this reason we will continue to bet and check all the new sites. We will keep the list fresh and will update this regularly so that you only going to be presented with the best in class. Please note that the betting sites listed below might not be necessarily new companies but they are new to the UK market.
Best New Betting Sites UK
Mobilebet – £10 Matched Free Bet
Significant Terms – New customers (18+) from the UK only (excluding Northern Ireland). Opt in to the promotion on registration then deposit and bet £10+ at evens (1/1)+ odds, any markets except each way bets or Asian handicaps. Do this within 2 weeks of joining to receive a £10 free bet token within 24 hours, then valid for 30 days. T&C’s Apply. 18+. Please Gamble Responsibly
Mobilebet is part of the same company as ComeOn which is a brand already well appreciated in the UK. As you will be able to see they are running on almost the same platform so many features will be exactly the same as banking, markets, mobile, etc. For this reason, in this section, we will focus more on the reasons why Mobilebet is a good new bookmaker to try rather than going into the payment methods and similar that you will be able to read in the ComeOn review.
The first thing to remember is that despite the name this is not a mobile online betting site. Even if they are called Mobilebet they have a very good desktop version and generally, this bookmaker can be accessed with great results on any device. Since they are a very modern company they have made sure that their website will work perfectly well on any sized screen.
Mobilebet is owned by Co-Gaming group which is a company based in Malta (similarly to many betting companies nowadays) that was established in 2010. Mobilebet was launched in 2014 and are a pan-European bookie that have a wide range of markets that do appeal to different type of customers.
Mobilebet doesn’t have live streaming and does not normally run thousands of offers but there are a couple of things that have particularly impressed us. First is that they are a very customers company focused: the whole company is focused on simplicity and transparency and this is a great thing in a modern world of betting where lots of bookies still rely on small print to take a small advantage over customers. With Mobilebet you can be sure that you will never be conned by small caveat or miss out because you haven’t done a law degree.
The second thing that has impressed us is their great loyalty points programme. Similarly to ComeOn who was the first to run similar loyalty points scheme for a sportsbook betting, Mobilebet has mirrored the same concept. How it is working? Very easy as you get points for everything you do! Not just betting and casino (surely you get points for this) but also you get points when you log in, deposit into your account, verify your ID and lots of other things. So basically everything you interact with the brand you get rewarded with points that can then be exchanged for free bets, bonuses, merchandise, prizes and so on.
This is a really good scheme that will over consistent value to existing customers. This is the reason why Mobilebet doesn’t have to run lots of promotions: their budget is going to run a great loyalty system and will keep members happy. It is also a very fair system as they will assign points based on how much they bet and how often they interact with the site.
Mr.Green – Bet £10 Get £10 Free Acca
Significant Terms – New players who deposit (excludes Skrill, Neteller & PaySafe) £10 or more and bet that amount in one bet at 3/1 (4.0)+ will receive a £10 free bet when that bets settles. Free token to be used on any bet with 3+ selections and is valid 7 days. General and offer T&C’s Apply, 18+. T&C’s Apply. 18+. Please Gamble Responsibly
Mr Green is not a new operator as they have been running a top class casino since 2007 but in recent times they have added a sportsbook which has particularly impressed us and this is why we have decided to list it in this page. Mr Green sportsbook was launched in 2016 and in our opinion is one of the most stylish and sophisticated products around. As you might have noticed the whole brand focuses on the fictitious and elusive gentleman figure, Mr Green. The brand mission behind Mr Green is to convey a sense of class with strong moral principle to the betting and gambling in general.
The company is called Mr. Green & Co AB (of which Mr. Green Limited is a subsidiary) and it is based in Sweden. It was initially created by three investors with the idea of creating a product that will be simply the best in the industry. The brand mission is to provide an honest, fair and no-frills yet stylish and modish experience to players.
The end result is a very unique product and they have won several industry awards for their casino which is highly rated especially in their mobile version. This is also the most highly rated responsible gambling brand having been particularly appreciated for their features that go well beyond what is expected by law in trying to prevent and resolve gambling addictions problems.
Surely Mr Green are one of the best online casinos in the world but from what we have been able to appreciate their sportsbook is really really good: they have 35 sports available which is a lot more than normal betting sites and they have their independent platform which has great design and usability. Although they are not offering live streaming as yet their live betting section is really good and have plenty of markets available. They also run regular existing customers promotions which offer great added value to loyal members.
The fact that the company has been around for quite some time means that they can offer a very good 24/7 customer support and also a top range of banking options. The minimum deposit is as low as £5 and the only thing to improve in our view is their £30 minimum limit and £1/1% fee for withdrawals.
So if you like to bet on sports and also play at a great casino this is the brand you should go for. We have no doubts it will be one of the top brands of the future.
BetBright – Dep £20 Play With £70
Significant Terms – New Customers, UK, 18+, Min Deposit £20. Max Sports Bonus £20. Max Casino Bonus £30. 5 x wagering (within 10 days) to release sports bonus. Min odds 1.8. £30 casino bonus added within 24 hours of first sports bet settling. 40x wagering (within 2 days) to release casino bonus. T&C’s Apply. 18+. Please Gamble Responsibly
BetBright is a quality new betting site that has been completely built in-house which is quite rare nowadays as brands are looking to cut costs by going for ready-made white labels solutions. You can see that they have spent time by ensuring that the usability is as good as it can be. It is also important to note that they are based in their home country and haven’t moved to Gibraltar or Malta to try and reduce their tax bill.
BetBright is an Irish company and as other betting sites from the Emerald Isle, they have a very good and vibrant sense of humour. They are a colourful and friendly brand that similarly to other Irish operators do not take themselves too seriously. The company was established back in 2012 by a number of gambling professionals who had a solid customer service and sport backgrounds. With their experience, they have made a more customer-centric approach and as a brand, for example, they have vowed not to bombard with text or emails customers unless they have something interesting and relevant to tell.
This bookmaker has a strong Irish and UK outlook so they are particularly focused on traditional sports. If you are looking to bet on more obscure sports than you might want to use another betting site. They do provide a huge amount of eWallet baking options for both deposit and withdrawals. The minimum deposit is £10. If you need to reach customer service is very easy as they are available 16 hours a day from 8 in the morning until midnight.
BetBright site has plenty of very interesting features. You will be able to cash out almost on every market and also they do have comprehensive in-play section. If you like racing with BetBright you will be able to see in free live streaming the best horse races. They normally offer very good price boosts on special events and others great added values such as cash back, insurance, free bets and best odds guaranteed. Although most bookies are now offering those type of offers we have to say that BetBright really excels on in play promotions and accumulators offers.
So, in conclusion, we can say that Betbright is a very complete betting brand able to provide a top sportsbook product, top of the range offers and also a full casino which is useful if you are willing to take a break from sportsbetting from time to time. So if you are looking for a new site to bet but want to make sure quality and depth are there, give BetBright a go as we are confident you will get a very good all-round gambling experience.
Red Zone Sports – Bet £25 Get £25 Bonus
Significant Terms – New customers (18+) in the UK can claim a matched bonus on joining Red Zone Sports during the world cup. Deposit & bet £25+ (one or many wagers) at odds of 3/5+ and get a £25 bonus when that bet(s) settles, use the bonus at odds of 3/5+ and rollover 7x the amount to withdraw, use code RZWORLDCUP. T&C’s Apply. 18+. Please Gamble Responsibly
Red Zone Sports are the sister brand of one of the betting site we have covered extensively on BestBettingSites.Online, Sport Nation. The two sites are both owned by Argyll Entertainment which is a company based in Switzerland that has London offices and a strong UK focus. The company was established in 2016 and it is already becoming popular for loyalty rewards to their members.
One of the main things to highlight about Red Zone Sports is their US sportsbook. As the name suggests Red Zone Sports have a huge focus on US sports and this is reflected in the depth of their markets: huge coverage of events from across the pond and this is, without doubt, the best site to use if you live in the UK and you are willing to place a bet on any sports from the United States.
Red Zone Sports are keen to own USA sports betting in the UK and for this reason, they have the lowest margins of all betting sites so by betting with them you will secure best possible value as long as odds are concerned. The markets available is outstanding as you can even bet on drag racing with Red Zone Sports.
If you are a US sports lover you will also enjoy their news section which is truly outstanding and much better than any dedicated news sites. Although American sports obviously their niche they do also offer everything else so you won’t let you down even if you are normally betting on traditional UK sports.
Another very strong point of Red Zone Sports is their rewards points system which is one of the best out there. Every time you will place a bet or play on casino you will get points. Those points (which are more for multiples) can then be exchanged for a huge array of products from ticket to top kit. As if this wasn’t enough you will also get free bet clubs, insurance and money back promotions on a regular basis. They are keen to reward existing punters and surely they are doing it very well.
Even if Argyll is a new company they have already made their name for transparency: they do accept high betting and payout limits are significantly higher than the average bookie. They have been working hard in improving the product in the last year and now the website is very intuitive and easy to navigate and there are lots of functionalities available to customers like: cash out (and partial cash out), odds request services, virtual betting, a great casino with a huge in play section. Considering we are talking about a very new bookmaker they have a huge amount of betting markets available: in addition to cover all the traditional markets they do have a massive US section with more than 30 sports.
Red Zone Sports is surely one of the best bookmakers launched in the last years and if you like betting on anything American this has to be in your betting sites portfolio. One thing to improve for Red Zone Sports is that they are lacking in deposit options (debit and credit cards only) and also their customer service options are limited (they have a live chat and email daily from 12-10pm but no phone number).
If you like Red Zone Sports as a site but you are not a big fan of US markets than our suggestion is for you to try Sport Nation as they have all the features mentioned about but with a more common traditional UK focus.
Brief Guide to New Betting Sites
Before we look into details what are the steps a company need to go through before becoming a licensed bookmaker, let’s take a look at the things to check before picking a new betting site.
UK Licensing And Legal Protections
The very first thing you need to check if you are living in the UK is that the operator has been licensed by the UK Gambling Commission. This is fundamentally important as it is basically the only way you can get legal protection if something will go wrong. If you are betting with a site that has not been licensed if they do take your money and sell your identity there is very little you can do in the UK.
Licensing also ensures that the operator is taking all measures to prevent money laundering and also to protect vulnerable age groups (under 18’s). It also ensure that fair game will be provided and that terms will be open and honest.
How can you check if a bookmaker has a UK Gambling Commission license? Well, this is very simple as you can just check at the bottom of their home page. When clicking on the logo you will then be taken to the Gambling Commission website. In this site, you will be able to see when they were licensed and who is actually hold the license (might not necessarily be the operator themselves).
Is the betting site a stand-alone or a white label?
The majority of new betting sites now have decided to cut costs and are using third parties companies like BetConstruct, Every Matix and others to give customers odds, banking options, markets, menus and even customers service and offers. Surely this is not a big issue as the products are good and well tested however you should be aware that two bookies running on the same platform will be almost identical. If you are playing online casino that you know what I am talking about: the majority of casino games are provided by third party software companies. Therefore are three types of new betting sites:
- Full white label – This is when a third-party company provide not only the software, odds, etc. but also have the gambling license.
- Semi-Independent – In this case, the third party company does provide the main platform and operate some of the games but the license is by the betting company.
- Fully Independent – This is when the company has his own proprietary software and run their own sites, odds, services, and features. They do also hold their own license.
The reason why most betting sites are going towards setting up a white label is that it is by far the cheapest way to launch a new site and it has become very attractive thanks to the low-cost turn-key solution. In terms of costs, we are talking around £100,000’s to cover the setup and liability which is surely better than the £1,000,000’s that are required to set up a betting site from scratch.
One of the main issues with White Labels is that they could work well if they do offers something unique but the majority fail to diversify themselves and they are normally closed down in their first 5 years.
There aren’t many new completely independent betting sites that are developed and the reason is that it takes a huge amount of time and resources which doesn’t seem a viable solution. The vast majority of new betting sites are not ‘new’ as such but they are new for the UK market. This can happen when a betting brand has been around for long time but only recently they have acquired a UK license. This is the case with many brands that have started for example in Scandinavia or mainland Europe and only at a later stage have opened to the UK market.
Features: Banking, Markets, Features, Limits & Customer Service
If you need to deposit into a bookmaker account and you have a bank card you shouldn’t worry about as the vast majority of bookmakers accept those. If you are planning to deposit via eWallets or other banking methods it is important to check as especially new betting sites might not have all those banking options available. If you like to bet with Paypal, for example, you need to know that the majority of new white labels will not accept it.
Also many new betting sites have higher deposit and withdrawals limits and also lower payout limits. So it is very important to learn those especially if you bet at the extremes. Another thing to note is that almost certainly you won’t find the same depth of market and features like streaming and cash out from a new betting site as in established brand. This is not always the case as newly white labels are fully equipped with functionalities but this is the trend. This doesn’t apply to those brands who are already established and are just expending their activity in the UK (like Unibet for example).
One of the main challenges for new white labels sites is probably customer support. Nowadays everyone expects the support to be 24/7 but the reality is that many new companies can only offer support at a certain time let’s say Monday to Friday 12-9pm. Having said that this again doesn’t always applies so make sure you check this to the new betting site you are about to sign up with.
Generally, if you have any doubts about new sites it is worth doing a quick research. To help you with this task we have created this section so that you can find out the best betting sites listed and reviewed for you by our experts.
Having read our reviews above you might well be thinking what is the point to open an account with a new betting site if the old bookmakers can still offer lots more. Surely this is a fair point but big doesn’t always mean better and many old established brands have been resting on their laurels and have forgotten something very important: the customer and the experience. After all, betting should be fun and not just a profit driver for a betting site. If the customer doesn’t have fun anymore what is the point?
We have tested lots of new brands and surely we can see that they have a lot more personal feel and they do focus on the customer experience. In addition to that, they do offer some unique features or markets that you won’t find anywhere else. They do reward loyalty and make customers coming back. Many punters are tired of big faceless corporations and they want to feel like a person, not just an account number.
What we have also seen is that new operators tend to be a lot more focused on niches. The likes of William Hill they are trying to cover everything from lottery betting to horse racing. New companies want to establish themselves and own one or two niches knowing that they can’t do everything with the same quality: as we have seen with Red Zone Sports although they do provide all the traditional markets you expect from a UK bookie they have also decided to ‘own’ the US Sports Betting. They have researched and have found that good US Sports markets are rare in Britain. They saw some customers that wanted to bet on US sports they were getting frustrated by leading bookies and become the go-to bookie for betting on all things stripes and stars.
UK or European Bookmaker?
The biggest UK brands have been around for a very long time and most have started with high street betting shops. They are very trustable and most of them are even listed in the stock market but the main problem is that they all tend to provide always the same old things. If you are keen to bet only on ‘traditional’ UK markets than it is fine to use the old UK bookies but if you like to try wagering on other markets from around to world or other sports than you will find the biggest UK bookies somewhat limited.
With lots of new betting sites that are coming from abroad, there are lots of opportunities to try new markets but also innovative features and promotions that just are not available with UK-focused operators. If you like to bet on things like Futsal, Water Polo, Trotting and others than it is best to also have a European brand bookmaker in addition to a UK brand. Even if you like to bet on traditional sports you will find that European bookies have nowadays a greater depth of market when it comes to non-UK leagues and competitions. Our suggestion is to have at least 1 account with a UK traditional bookmaker and 1 with a European betting site: in this way, you will benefit from a huge range of betting opportunities.
How To Create a Bookmaker
If you have ever placed an official bet on any event you will have come into contact with a bookmaker. In the past, you would physically communicate with an actual person in order to place your bet. They were working as independent or small chain operator bookmaker: they would provide the odds, accept your bet and they will pay you out if you won.
With the years’ bookmakers have evolved and were fully legalised and regulated and bigger companies started to emerge. With the arrival of digital things have changed further which means now most people don’t even think about who is the actual person they are placing bets with. Most of the time they simply betting against a computer that is using an algorithm rather than a person.
The change to online has opened up the profession of the bookmaker in many different ways. Everyone that has a good capital can now open a bookmaker while in the past the feeling was that this was a rather impenetrable career restricted to the main operators. In this page, we will take you through what it is required in order to open a bookmaker so that you will have a better understanding of the modern gambling industry.
How bookmakers have appeared in the UK and their history
If you want to fully understand how much the world of bookmaking has changed over the years it is important to see how things have started in the first place. If we go all the way back in the history we can see that some sort of gambling already took part during the Paleolithic era. But let’s skip this for now as it is not of too much interest for this page. Let’s move instead to 1790’s when a man named Harry Ogden become the first bookmaker in the United Kingdom.
Mr. Ogden operated a small shop on Newmarket Heath which was very close to Newmarket Racecourse. From the shop, he could see which horses were crossing the finishing line as winner but without catching the attention of the staff of the course. Mr. Ogden is being considered the first bookmaker and the reason is because he created a system to allow people to bet on horses taking part in a race. Before him, punters could only bet against each other. Ogden tough looked at the entire field and decided to offer odds on each horse: in this way people were tempted to bet on horses that had fewer chances of winning. As the odds were greater on those horses it means they would have earned a lot more.
Although the history that followed it is not very clear, it is fair to assume that many followed him because the government introduced the Gaming Act back in 1845. With this law people were not allowed to gamble except at the racetrack. This meant that more and more people started to attend racecourses and the majority of money was made by the government-backed bookmakers that were allowed to take bets on racecourses.
On the flip side tough illegal betting shops started to come up all over the country especially in the dark parts of cities. An exception to this was a bookie run by Bella Thomasson that was run in a very professional manner and was in fact a front-runner to the betting shops that will open years late. In 1960 the Betting and Gaming Act legalised betting shops on the street of UK but they were lots of regulations around. First of all they weren’t allowed to be attractive places to visit: windows were blackout and the atmosphere was not good. Even with those restrictions, the popularity of those shops continued to increase and nearly ten thousand opened up in the first 6 months of legalisation.
Over the following thirty years, the betting shops become part of the mainstream and were accepted by most parts of society. If you want to know more about the history of gambling and bookmaking visit our dedicated section.
The Rise Of Online Betting Sites
Even if online gambling is a relatively new thing, in reality, it has started already in the mid-1990s. It was in 1994 that the company Microgaming created the first software that allowed people to place casino bets online. In reality tough, the British bookmakers didn’t really start to take advantage of digital until the turn of the millennium. The digital move created a huge amount of new possibilities for bookmakers: the first thing they did was to move their operations abroad and avoid the 9p in every £1 tax that the government was charging. BetVictor was the first who moved to Antigua and there was fear that other bookmakers could follow.
The Chancellor of the Exchequer Gordon Brown decided to make a change in the tax law in the UK to prevent this from happening. With the new law punters didn’t have to pay tax on any winnings made via gambling but the bookies will take the hit with a 15% levy on their gross profits. That 2001 law also gave another look at the way that gambling was legislated in the UK. This work was completed in the 2005 Gambling Act where the Gambling Commission was created. Gambling Commission licences were now needed for any bookmaker that intended to operate in Britain: they didn’t have to have necessarily some physical shops but the same would apply if they only had websites directed to UK customers. Surely there were still some loopholes but those were then addressed by the amendment to the Gambling Act that was done later in 2014.
But what was the first official online bookmaker? It was Intertops who was established back in 1983 and are online since 1996. Surprised? Well, the reason why you might not have heard of them is that they don’t have a UK license however they are a pretty big brand in Europe.
Who is the oldest bookmaker in the UK?
In the history of betting many betting sites have come and gone. Some of them have been acquired by larger companies while others have struggled to make it in a market like the UK that is very competitive and ever-changing. There is one that has been found back in 1886 and that it is still in existence today. This bookmaker was funded initially as a commissioning agent for horses that were trained at Ladbroke Hall in Worcestershire. It was set up by two gentlemen called Schwind and Pennington. Pennington was a horse trainer and was giving tips to Schwind on which horses to back. In 1902 they were joined by Arthur Bendir.
The latter had the idea not only to back horses trained at Ladbroke Hall but also bet against other hoses. So the company started to act both as bookmaker and punter. They set up an office in The Strand in London, then they moved to Hanover Square and eventually in Mayfair in 1913. At the beginning they only had some very high class customers from the aristocracy and Royals. Their business model worked really well but it was disrupted by the Second World War when they lost the majority of their customers. In 1956 they decided to sell their business to Mark and Cyril Stein for a total of £100,000.
The Steins knew that the betting industry was a fast-paced environment and that they had to innovate as much as possible so that they could keep growing. Ladbrokes become the first company to offer fixed odds betting on football and the innovations worked really well as the company was floating for £1 million in 1966.
Since then Ladbrokes have continued to grow and in 2016 it has merged with Coral becoming one of the biggest betting company in the world. In 2018 the company has again being acquired by the huge gambling investment company GVC holdings which is also the owner of PartyPoker. Due to the recent acquisitions many are saying that Ladbrokes has lost his identity however they are in reality still an independent arm of the larger company and have the same name and structures. Ladbrokes attitude to innovate hasn’t changed either and they are facing well the challenge posed by the newcomers in the world of betting.
What Is A Bookmaker?
But let’s take a look now at some of the basis. What is a bookmaker? A bookmaker is a person whose job is to take the money when you bet and to pay you money if you win. So in a simplistic way, this is what it means to be a bookie. But being a bookmaker is not only taking the money and paying bets but most importantly is to ensure they have a balanced book which will allow them to make a profit regardless of what will be the outcome of a certain event.
Since the arrival of digital and the explosion of companies, online things have changed significantly. Historically bookmakers were self-contained so they had everything in house from traders to designers and so on. Today we have ‘white label’ bookmakers: this means that they use pre-made software with all featured ready. Sometimes they don’t even have to deal with customers service and retention as those are handled by third parties.
In some ‘white labels’ the software company has the license and they do take a share of the profit. This allows the people behind the ‘white label’ to concentrate on the front-end and marketing knowing that the backend, including customers management, will be taken care of. This is why barriers have become much more fluid and generally it is a lot easier now to open an online betting site than in the past. But can someone who simply set up a website using a software provided by third-party company really be called a ‘bookmaker’?
Real World Bookies: On-Course And Off-Course
If you are thinking to become a bookmaker in traditional sense than the first thing you will have to find out is if you want to do so on-course or off-course. The word ‘course’ is in place of the physical location where any activity is taking place which can be different depending on the sport that you are covering. In this case you will need to train and develop cashiers, handle the money that is taken off and deal with complaints, balance accounts and lots more. You will also need to ensure that odds are balanced so that you can turn a profit regardless of the outcome.
The main difference between on-course and off-course is the type of license that you will need. The UK Gambling Commission provide however very clear information on what you need. In addition to operating license you will also need a personal management license, a personal functional license and a premises licenses. This of course depends on the type of bookmarking operation that you are planning to run. In most cases bookmakers become bookmakers because it is a family tradition which means key information are passed down from parents to children. They know how it is done from generations. It is quite surprising to see that there is a rather scarce amount of information online about becoming a bookie and what is needed.
Another important thing to consider in addition to the type of license needed is also the amount of overheads involved. For example in order to have a stall in a racecourse there is money that will need to be invested. For example some bookies are paying in excess of £200,000 just to have a pitch at York Racecourse. Surely this is a large amount and it was to acquire the best spot on the course but it gives a good idea of the type of things you would have to pay for. Another cost is for the runners that keep an eye on the odds being offered by competitive bookies and the bagmen who are collecting and distribute the money from punters and so on.
If you decide to open a high street shop than those overheads will increase exponentially. In addition to the rent that you would need to pay there are also other associated costs like electricity, phone and internet. Surely you will want greyhound and horse racing to be shown live on premises and this is another cost to consider. Then you will have to pay for the staff needed to run your shop, cleaners and security. In order to get a license you will need to have a very good amount of money as a guarantee: the money will have to be put in a holding account so that it does prove that you have enough cash to pay bettors if they win.
Other ways of becoming a bookmaker
If you decide to become a bookmaker there are a huge amount of online companies that you can speak to. They will take lots of problems away as what they do they offer turn-key-ready solutions: you will just need to pay a fee to take advantage of them. A major problem with this approach is that it is difficult to tell which companies are reliable and which one isn’t.
A very good way to find out how to become a bookmaker is to have a chat with the Association Of British Bookmakers. On their homepage you will find a huge amount of information on how you can start the career and also different options like:
- Begin as a Cashiers or Customer Service Assistants
- Become an assistant Shop Manager, eventually moving up to Shop Manager
- Become a Multi-site Retail Manager, responsible for several shops in an area
Surely none of those jobs are the same as being a bookmaker but it could be a good starting point if you need to acquire the necessary skills before moving up in your bookmaker’s career.
Becoming an Online Bookmaker
As we have seen opening a bookmaker with physical premises require a lot of planning and cashflow. The alternative is to do it online. We have already seen that there is the opportunity to set the bookmaker up as a white label which will utilise already made software that takes care of the back up part. This is of course not the only way as some investors decide to go for the independent bookmaker route to find their nice.
This is however not the easiest way. You will need to generate markets yourself and also come up with odds. In addition you will need to have a well designed interface and functionalities that will make it easy for punters to bet and manage their online betting account. In addition to being time-consuming and costly you will also need to have a really good understanding of the sports and also be able to provide odds that will allow you to make a profit. In addition to that you will also need to have a good understanding of how websites work and how you can get the traffic you need. And of course have a good capital aside so that you can pay the winning punters.
With a betting shop the advantage is that more or less you have a good idea of how many people are likely to visit your location. Depending on the area there will be a limited amount of footfall and it is unlikely to increase for random reasons. In the world of online it is a completely different story. You will need to be prepared that if one of your marketing campaigns is more successful than you might see a big increase in the number of customers coming to bet with your company. This will means that your liability will increase and if you don’t have decent odds out there you can risk losing a bit amount of cash.
Another key thing to consider is what products are you willing to offer. As online betting has matured over the last few years punters are expecting to be able to have lots of markets and possibility to bet. Are you going to focus only on main sports, like horse racing and football, or are you going to try others minor sports like boxing, tennis, cricket and so on. If so will you only offer odds on main events or will you follow the sports completely. If it’s the latter how good are you in offering odds on a Brazilian third division game? All those things have to be considered when opening a new bookmaker online.
Finding Jobs In The Gambling Industry
The good news if you are looking for a job in the gambling industry is that there are still plenty as this is a fast-paced always evolving environment. As mentioned opening your own bookmaker does require great experience and a lot of money available and it is not for everyone. You can still make your way into the betting industry tough and below we have suggested some jobs opportunities:
Odds Traders – surely this is one of the most important position in the betting industry. Being a odds trader means you are responsible for setting the odds for an event and also you will need to monitor customer accounts and look at the overall profitability of the bookie. Although statistics and analysis is very important for sporting events in the special bets odds traders normally use also judgment and intuition in addition to maths.
PR and Marketing – after the odds trader the second most important job in a bookmaker is PR and Marketing. Having a great bookmaker without clients will not be a good thing so PR and Marketing people are responsible to bring relevant traffic and get new customers that will increase the turnover and hopefully the profit too. PR and Marketing people not only need to come up with good advertising campaigns but they will also need to figure it out what are the type of offers and promotions that will keep players loyal once they have been acquired. Being compliant is also massively important especially in the UK so they will need to ensure every campaign they run will be following the guidelines of the UK Gambling Commission and the Advertising Standards Authority.
Design and Developers – In order to keep the bookmaker fresh and also to ensure issues will be resolved quickly there will be a need for Designers and Developers. Things don’t just have to work but the website and functionalities have to be visually appealing and will need to work smoothly and on every mobile device. If there will be a need for it also a mobile app would need to be developed to ensure the best mobile betting experience for users. In a physical shop, you will also need to think about the layout of your premises and the equipment needed although in this case, you are most likely in need of an architect than a designer.
Accountant – As for every business that wants to be successful you will need a good accountant that will ensure the company is running financially well. In a bookmaker, the accountant job would be to ensure that the Odds Traders are doing their job in keeping a good balance book and also that advertising and promotions are not going too aggressive or using too much budget. In addition to that, they will be responsible to investigate that there is enough money to keep the Gambling Commission license and that the bookie will stay solvent even when they are large payouts to customers.
Content Writer – having a good content writer is important as the better the content will be on your site the more traffic you will attract from Google and also higher the conversion rate will be. A content writer responsibility will also be to ensure that offers and deals are well written and that terms and conditions are clear and will not mislead.
Surely there are always new jobs coming up in the betting industry so if you are interested simply browse the corporate websites of the different bookmakers and see if you find something that you want to apply for. The biggest companies have tens of thousands of people employed so surely this is a good industry to be in if you are looking for a bright career.
Is Bookmaking A Competitive Industry?
The straight answer is yes and you can test this yourself. If you do a quick search for ‘Best Betting Sites In The UK’ you will get a huge amount of bookmakers which will span from the well-established ones to the new in the market. Having said that it is becoming more and more difficult to get a Gambling Commission license as the regulator is keen to check that new business is not being run by disreputable people that might want to use a gambling operator to commit money laundering or taking unfair advantage of the customers.
If you make sure to bet only with companies that have a valid UK Gambling Commission license than you should have no issues as you will be protected by the regulator. One of the most important things that someone needs to be able to set a bookmaker is to have initial investment capital available. New and fresh bookmakers are continuously popping up every month and this makes the industry very competitive.
If we only look at the major bookmakers out there you will be able to see that there is already a big competition as the list includes Paddy Power, Betfair, Ladbrokes, Coral, William Hill, Betfred, BetVictor, 888 and Bet365. They are the leading brands of an industry that is populated by a huge amount of smaller companies trying to pick up customers from the big ones. Such firms are like Argyll Entertainment who owns Sport Nation and Red Zone Sports and Betsson AB which is responsible for Betsafe and Betsson. In recent years the digital era has reduced some of the barriers at the entrance of this industry and many new brands have been able to compete with the biggest companies. It is difficult to see new entrants becoming a global recognise force but they should still do well if they can find a good and loyal niche that uses them for a selection of their bets.
Setting a Bookmaker Company Abroad
Lots of bookmakers have decided for different reasons to set up their headquarter outside of the UK and one of the preferred locations is Gibraltar. Why Gibraltar? Well, there are a number of reasons why companies have decided to pick Gibraltar as their best place to have their headquarter. To begin with the island is part of the UK and therefore it is covered by the Gambling Commission. Most importantly companies can write certain expenses as tax deductible and they wouldn’t be able to do so if they were based on the UK mainland.
Since the biggest companies spend tens of millions pounds in marketing, being able to avoid paying tax on it is a massive advantage. Gibraltar tough it is not the only place where gambling companies have decided to base or relocate to. Malta is getting more and more popular and the main reason is the low tax regime. Many companies like Betsson, Kindred and others have all offices in Malta and more companies are planning to make the same move. The Isle of Man and Alderney are seen as havens for betting companies as taxes are very low again.
Even if the trend is to move abroad there are still huge bookmakers that are based in the UK. Bet365 have their headquarter in Stoke-On-Trent while William Hill is in London. Despite having some offices abroad those two respected companies have decided to stay on the British mainland for the time being. The same can be said for Ladbrokes Coral and Paddy Power Betfair so the trend is that smaller companies move abroad so that they have more favourable tax regimes and can, therefore, compete with the biggest players in the industry. So looking at the different options it is very important especially if you are thinking to set up a new bookmaker.