BetKing Agent Registration has now been made possible with the unique opportunity the fastest growing sports betting network in Nigeria has provided to owning your own personal business by way of partnership.
Their proven products, qualitative training and support team are ready to set you up and running to achieve your goal and making sure your job as an agent is made easy.
With several years of experience, the brand is fast becoming a household name.
And with the rate of unemployment in Nigeria, this is another business you can venture and become an entrepreneur.
Yes o, abi what makes one an entrepreneur? No be when you are your own boss and manage your business?
So long as you have self-control, you will get your capital back in no time.
In other to be successful as a BetKing agent, you need to keep reading to know every single requirement.
How To Become A BetKing Agent In Nigeria
Before you go ahead and put your money into this business, I bet you’d like to know who the owner of BetKing is – for trust’s sake at least.
Adekunle Adeniji and CEO Byron Petzer co-founded BetKing and then made legendary former Super Eagles captain Austin Okocha brand Ambassador as a nominal partner.
So how do BetKing pay their agent?
Betking Agent Commission
Here is how the Betking Agent commission works.
Generally, the industry is moving away from the era of commission on profit to commission on sales.
Betking Sport weekly commission ranges from 1% to 30%. For every bet slip you registered, you get paid fast commission irrespective of the outcome.
If a punter plays one game in a slip with ₦20,000 your commission will be ₦200 as the selection increases your commission will also increase, if 15 games are selected that is 16% commission for a ₦20,000 game played, the agent will receive ₦3,200 as commission.
The type of customers you have will directly affect your commission, if the majority of your customers are the type that plays low risk like between 1 to 3 selections per slip, don’t expect your commission to be fat and this is why the company also came up with a monthly bonus share which is usually paid every last Monday of the month, and to qualify you must have a minimum sales of ₦150,000.
Monthly Bonus Formula
This is it:
MONTHLY BONUS = (TOTAL SALES — TOTAL PAYOUT X 0.25 )- TOTAL WEEKLY COMMISSION RECEIVED FOR THE MONTH
What this means is that Betking will pay you a bonus if 25% of the profit you made for the company that month is greater than the total commission you have received on sports that same month.
The monthly bonus is paid to compensate agents who made profit for the company but happen to have been paid low commission as a result of the numbers of games selected per ticket.
Now let’s look into two possible situations with the same amount of sales and profit made.
Agent JAMES registered only 1 slip with ₦1 million for a period of one month, and in that slip, only one selection was made let’s say a draw and there was no winning.
Agent JAMES will be paid 1% of ₦1 million which is ₦10,000 as commission as that was the only game he played for a period of one month and ₦10,000 was the only commission received for the month.
Since there was no winning Agent JAMES made a gross profit of ₦1 million for the company 25% of ₦1 million is ₦250,000
The question is how much bonus will be paid to agent JAMES for that month.
Now let’s apply the formula.
Monthly bonus = (Total stake (₦1,000,000) — Total payout (0) X 0.25)- (Total commission Received (₦10,000))
Monthly Bonus = ₦240,000
Agent JAMES will receive ₦240,000 as a monthly Bonus for that month. So his total earnings for that month is ₦250,000
Agent BOND registered only 1 slip with ₦1 million for a period of one month, and in that slip, 30 games selection was made and there was no winning.
Agent BOND will be paid 30% of ₦1 million, which is ₦300,000 as commission, due to some circumstances that was the only game he played for a period of one month and ₦300,000 was the only commission received for the month.
Since there was no winning, Agent BOND has made a gross profit of 1 million for the company 25% of ₦1 million is ₦250,000
The question is how much bonus will be paid to agent BOND for that month recall the total commission received for that month is ₦300,000 applying the formula
Monthly bonus = (Total stake (₦1,000,000) — Total payout (0) X 0.25) – (Total commission Received (₦10,000))
Monthly Bonus =25% Share (₦250,000)- Total commission (₦300,000)
Monthly Bonus = – ₦50,000
The result is on a Negative balance of ₦50,000. It means the total commission received is greater than the 25% of the profit share so Bonus will not be paid to Agent BOND but Agent BOND total earning for that month is ₦300,000 which is ₦50,000 greater than what agent JAMES earned combined.
So it doesn’t matter if your sales are over ₦150,000 every month and you don’t receive the monthly bonus you should be happy to be in that situation because It means your type of customers makes you earn a bigger commission.
To qualify for a monthly bonus your sales for the month should be above ₦150,000
What are the benefits of becoming a BetKing agent?
- Qualitative training and support to enable you to achieve your goals at BetKing
- Zero risks or liability for winning bets
- Fastest payout even on weekends
- Enjoy up to 30% commission on sports product which is determined by numbers of games per ticket. You earn from each bet slip u print.
- Best and competitive bonus structure on Sports product
- Best commission and bonus structure on Virtual products
- Unique and competitive ODDS specially designed for customers
- Site flexibility and user-friendly specially designed for customers
- Best virtual games available for customers
- The constant development of new products
- Best European sports betting software.
Below are basic requirements necessary for completing your registration;
- Get a shop in a busy area. In most cases, you are advised to choose a shop on the ground floor of a Building
- Shop size varies with different locations, the minimum shop size is a room size ( 18sqr/mtr)
- Check the distance to an existing BetKing shop, confirm it’s up to 5-10min distance trek
- Before paying for the shop, contact us for inspection. BetKing reserves the right to approve the location of shops where it deems fit for a number of reasons.
- After we’ve inspected and approved your shop, our inspection team will guide you on how to set-up your BetKing shop
- General Renovations (General repairs, Wiring, Counters, shop branding, Networking, etc.).
- Minimum of two cashier space and three booking systems
- Minimum of 2 Thermal printers for printing out coupon/tickets to customers (no need to buy the expensive types)
- Minimum of 3 laptops (you can go for the cheap ones)
- Stable internet – You can use a wireless connection like a modem connected to each laptop You can share one modem to all the laptops or use your mobile phone Hot-Spot. Just make sure you find out what network goes faster in the area your shop is.
- Minimum of 3 TVs
- Generator/Power supply – make sure you buy a generator that can power all your device and electronics without a hiccup
- DSTV (Recommended)
- Maximum period of 4weeks to set-up your BetKing shop
- A startup security deposit AKA BetKing Agent Registration Fee of #25,000 into your BetKing agent account
Note: The above are guidelines outlined to facilitate and enable your application process, and they in no way constitute a contract that is binding on BetKing.
Meanwhile, there are some items the company will support you with as a new agent.
- BetKing provides her agent virtual kits such as:
- Two decoders for virtual products display
- 4 ways LND
- A roll of cable for installation
- A dish
- Free installation of the virtual kits by our virtual team/department
They will also give you Promotional Materials such as:
- BetKing banner/Flex and 18+ stickers
- BetKing jerseys , caps and wrist bands
For those who want to know how much it costs to be a BetKing agent, you will have to put all the things you will need to buy (listed above) inside your shop and, don’t forget to add your agent registration fee. By the time you do the math, you should have an idea of how much you need to become an agent.
To track the progress or check the status of your application, simply follow the steps below:
- Visit help.BetKing.com
- Sign up with your email and password and then sign in to your account
- Click on “My Area” and then “Tickets” to view your open requests OR
- Use your application ID in the search tab to find your application status.
To register through the form on BetKing agent site
- Click BetKing Agent Registration Form
- Enter your name, last name, date of birth, gender, mobile number, email address, prospect shop address, landmark, shop state, LGA, referral channel, and referral name or code.
- Take photos of the shop both indoor and outdoor.
- Attach the indoor and outdoor photos.
- Next is to click submit
If you prefer to register through the phone number:
Send the following details to BetKing WhatsApp number+234(0)8166362447
- First Name
- Other Names
- Date of Birth,
- Shop State
- Shop LGA
- Prospective Shop Address
- Shop Location Description
- Email Address
- Phone Number
- Shop Photos (Indoor and Outdoor photo)
These are the Application Status you may be presented with:
- Call Validation: Application received and being reviewed by a representative.
- Sent for Inspection: A date has been sent for a representative to visit your shop location(s).
- On Hold: Pending information or feedback from you. To avoid this, make sure you attach pictures and provide complete information for the application.
- Unreachable: Pending information or feedback from you. To avoid this, make sure you attach pictures and provide complete information for the application.
- Rejected: Did not meet the requirements or incomplete information was provided.
- Approved: Passed the inspection to become an Agent! Your agent account will be created, and you will receive a notification.