As things get going in being a bookie you will start to form relationships with your customers. Some of these may bloom into something much different than what they started out as.
The Agent– This is the guy who will have several people and that play through him or settle up through him. Getting quality Agents is a critical element to building your business. I believe good Agents are those that settle up on time and do much of the legwork for you.
Because of this, they may be worthy of certain deals with you. An experienced Agent will often pitch you a deal. Some of the typical deals are listed below.
- Percentage deal with a Makeup: The Agent gets a percentage of any win from his players. For example, an Agent has a 25% with a Makeup and his players lose 5k for the week, then his end would be 1250. If his players were to win 5k for the week then he would have to “make up” that 5K before getting his 25%. So if an Agent has a 5K makeup and his players lose 6K for the week then his end would be 250. The percentage is something that would be agreed to by both of you. I used 25% in this example because it’s fairly common.
- Straight Percentage Deal: The Agent will get a percentage of any winning week off the top. This deal should be written up at a smaller percentage than that involving a makeup. The reason is that the Agent will be making money regardless of how all his guys are doing against you historically.
- Straight Split: The Agent books a percentage of his players with you. No percentage, no makeup, the Agent just wants to book some of the play with you. This is fine and dandy but I’d make it a point to always hold more than he does and to try to get some of the site fees from him.
If you’re not discussing a deal that is like any of the above then I would be hesitant to agree to it. Remember, the Agent may be more experienced than you and that he knows his players better than you do. Often times he will be a former bookie. Agents do not fall out of the sky. Experienced ones have a history and have found you for a reason. Ask questions, find out why they came to you. The best Agents usually will be groomed and developed by you over time.