How Are Bookies Getting Through Legalization?
The legalization of betting in various jurisdictions has brought many changes to the gambling industry. Unfortunately, bookies are not immune to these changes either. However, bookies have found a way to get through these legalizations.
Take a look at the U.S. gambling landscape. Before the Supreme Court overruled the PASPA act of 1992 in 2018, the federal government used to enact laws restricting sports betting in all states except Nevada.
These laws restricted bookies from running their operations too. But, this does not mean that they stopped offering their services. However, with each state taking the gambling regulation role, bookies have had to adapt.
They can no longer operate like they used to. Some do, but most have closed businesses because local governments raid their facilities regularly. This has forced bookies to adapt.
This article further explains how bookies are getting through legalization. Continue reading to find out how you can navigate the legal landscape once you become a bookie agent.
Bookies Take Their Business Offshore
You would have to go on a cat-and-mouse chase to operate an illegal bookie in a jurisdiction where gambling is regulated. To avoid these races, you need a license. This costs a lot of money that you might not be willing to spend.
So, instead of spending all that money, most bookies prefer to take their business offshore. Getting a license from an offshore regulator can be cheaper. It also means having fewer regulations to follow.
Partnering With Other Legal Bookies
You might be willing to get a license to operate in your state. However, each state has only a few licenses to grant. Instead of applying for a license, a bookie can partner with an already licensed sportsbook.
The bookie will retain their clients and probably share some revenue with the host. While this is a good idea, you will have lesser freedom on how to run your operation.
Working With Pay Per Head Sites
Another way bookies are getting through legalization is by working with pay per head (PPH) sites. Partnering with a PPH service provider is the best alternative for a private bookie that wants to retain their independence.
PPH sites are hosted in another jurisdiction, such as Costa Rica. They offer bookmaking solutions, including betting lines, betting websites, payment systems, customer support, and others. They do not collect or pay funds.
Instead, bookies deal with finances and players themselves. Working with PPH sites is like being an affiliate for the service provider. It shields you from breaking most laws that would see a state sue you.
There you have it; the three ways you can get through gambling legalization. Working with a PPH shop is the best option. As such, contact RealBookies to set up your online bookmaker.