The sports betting industry would not exist without bookmakers who set betting odds for sporting events. Some bookmakers work in betting shops and the others offer sports bets online via betting portals. Are you interested in working in the sports betting sector? Then read on in this article! However, in this article we focus primarily on bookmakers who work online.

What do bookmakers do for a living?

The most important job of bookmakers is to calculate the probabilities for various sporting events, although nowadays the computing power is of course taken over by computers. Nevertheless, bookmakers are responsible for obtaining information: they sit in front of screens, follow sporting events and update the betting odds for live bets. In addition, bookmakers have to do various office tasks and deal with accounting. They keep statistics, season plans, match schedules and customer files, keep cash accounts, advise customers, make phone calls and (email) correspondence. Bookmakers who work in small betting shops sometimes also take on bar staff duties.

How do you become a bookmaker? Training and license

From the field of activity, it is clear that bookmakers must have good knowledge of office administration, management and accounting. To do this, you have to complete training as a certified bookmaker or certified sports betting bookmaker at a bookmaker academy. It is important that the course is reputable and cooperates with the authorities. As part of the training, students learn the basics of setting odds, betting, event law, gambling regulations, accounting and cost accounting. In addition, bookmakers in Germany must apply for an official permit from the responsible authority in order to broker sports bets commercially.

In order to get a license and be able to work legally as a bookmaker in Germany, you have to provide several documents to the Senate Department for Economic Affairs, including an extract from the central commercial register, information from the debtors’ register and insolvency register, an official certificate of good conduct, and proof of equity or working capital. You should contact the authority for a list of all documents. The path to becoming a bookmaker in Germany is not as easy as you might think.

What are the career opportunities and salaries for bookmakers?

As soon as you have completed your training and received an official permit, you can find a job quite easily. Due to the popularity of online sports betting, professional bookmakers are currently in high demand. Look for vacancies not only on job boards, but on large betting portals that often publish job offers. A bookmaker with job experience can look forward to a higher salary. A possible continuation of the career would be to open the online betting office yourself. According to current statistics, the average annual salary of a bookmaker is around 32,000 euros/year.

Conclusion

Bookmakers have a stable and sought-after job with good opportunities for advancement. However, anyone who has seriously decided on this profession must complete an apprenticeship and have official permission to place bets. A professional bettor will easily find a job at a betting office or online sports betting provider and can later open their own betting portal.

Experience in sports betting will be a great advantage. If you are wondering whether this job is right for you or not, you should consider whether you want to work in the betting industry in general. If you enjoy working with betting odds, contracts and customers, then it could be a good option for you. If you want to get started as a bookmaker, we wish you every success!