Becoming a gambling or betting agent is a lucrative opportunity to start your own business in the field of betting and gambling. However, it also comes with a number of terms and processes that every potential agent needs to understand. Whether you’re new to the world of online casinos and sportsbooks or experienced one looking to expand your already existing business as a betting agent, it’s essential to get familiar with the related terminology. This glossary represents the key concepts that will guide you through the process of becoming a successful gambling and betting agent, from understanding the basic terms to the commission details, sub-agent scaling, necessary software, and profit payouts.
General wallet agent terms
Betting agent (or bet agent, or sportsbook agent) – is an intermediary that provides services to bettors, often helping them place bets on various sporting and other events through specific platforms. First of all, bet agents find people who want to access betting markets or services that may not be directly available to them. Then they can process deposits, withdrawals, and account management, making it easier for users to manage their funds, especially in the regions with restrictions. For example, a betting agent can create an account at Melbet sportsbook platform on behalf of the user, fund it, and place bets as per the user’s instructions. Agents can act as a layer of anonymity between bettors and the betting platform, in case clients prefer to keep their activities in secret.
Online casino agent (or gambling agent) – is a representative of gambling websites that provides services to players, helping them access, navigate, and participate in online casino platforms. These agents act as a bridge between players and online casinos. An online gambling agent usually offers support, guidance, and sometimes additional benefits. They are particularly useful in regions where access to online casinos may be restricted or where players need assistance with the registration. In countries where direct access to certain betting sites is limited, agents provide localized services, such as supporting specific currencies or payment methods.
Cash agent (wallet agent) – an intermediary who handles transactions involving cash deposits and withdrawals between users and online platforms. Cash agents are particularly common in regions where traditional payment methods like credit cards, e-wallets, or bank transfers are less accessible or less convenient for certain users. The term refers not only to betting and gambling institutions but any organisation that involves financial transactions, however it is widely used as a synonym for online casino and bookie agent.
Agent odds – betting odds provided by a betting agent rather than directly by a bookmaker or betting platform. These odds are typically better than those available directly on the betting platforms. That means that bet agents provide players with potentially better deals, special offers, and exclusive betting markets. For professional bettors or high-rollers, agents can offer odds for high-stakes bets that are usually limited by bookmakers.
Agent verification – means the process of confirming the identity and legitimacy of an agent which ensures the agent (or the sub-agent) to be trustworthy, authorized to operate, and comply with the platform’s terms, regulations, and legal requirements. Usually data verification takes very little time. Agent applicants need to submit their documents to verify the identity and to prevent fraud. Besides, trustworthy platforms like Melbet operate only within the legal framework. That means only adults can become betting and gambling agents.
Sub-agent – is a person who works on behalf of a primary betting agent (also known as the main agent). A sub-agent acts as an intermediary between the main agent and bettors and helps to find new clients, to manage a specific group of customers or a designated location. The main agents can significantly grow their income if they create their own team of sub-agents.
Wallet agent commission and reward terms
Gambling and betting agent commission – the fee or percentage of winnings that a gambling or betting agent charges for their services. These agents act as intermediaries between customers and gambling platforms or bookmakers, and their commission serves as their reward for enabling and processing transactions, providing access to platforms, or offering additional services. The commission amount depends on the type of the remuneration and especially on the country.
Wallet agent fixed percentage fee of bets or winnings – wallet agents may take a percentage of the total bets placed or a share of the winnings as their commission.
Cash agent transaction fees – some agents charge a flat fee for each deposit or withdrawal they process on behalf of a player.
Agent starter minimum investment – the first deposit made by a new bet agent that is made to start the collaboration and to ensure that the potential agent is serious about partnership. For example, the Melbet sportsbook and online casino agent program requires only 100 USD or another currency equivalent to get started. This first account top-up signifies the beginning of the agent’s activity.
Cash agent profit – the amount a betting and gambling agent receives as a result of a successful deposit or withdrawal.
Bet agent payout – the agent’s profits which are paid out at the end of each month and can be monitored through the agent mobile app to see the progress online.
Payment processing terms
EPOS (Electronic Point of Sale) – a system used to manage and process transactions via various methods, including cash, credit/debit cards, mobile wallets, and vouchers. EPOS systems are usually used in retail stores, restaurants, and hospitality venues. However they are also used by gambling and betting agents. With the help of EPOS wallet agents can easily process transactions, manage bets, and control their profits because the system is synchronized with online gambling and betting platforms.
TeamCash – a mobile application that is used by bet agents to manage transactions, to top up clients’ accounts. The software operates under Android only and makes an EPOS from a smartphone device. It is used within the agent program at https://melbetagents.com/, a partnership incentive from Melbet – the world’s most reliable sportsbook and online casino website. TeamCash is supposed to be right now the most convenient and user-friendly cash agent platform that provides transactions and their management 24/7.
TeamCash personal support manager – a TeamCash representative assigned to every new gambling and betting agent who helps to join the partnership program and creates agent accounts. Support managers also assist in case of any difficulties, provide training, guides, offer advice, and collect feedback from wallet agents to improve the platform.
To summarize
Everyday millions of people start looking for new earning opportunities and consider becoming gambling and betting agents. This occupation can offer significant rewards, but it’s crucial to understand the basics of the agent business before getting started. The above glossary was created to give the definitions and explanations of some fundamental terms and processes: from agent verification to the usage of payment systems like EPOS and software like TeamCash. With the right knowledge and tools, you can maximize your earning potential and reach success in this growing industry. Keep these key terms in mind and you’ll be well-equipped to start and manage your own prosperous betting and gambling business.