Understanding the Best Bookie Business Model
What would be the easiest way to make some cash on the side? Nowadays everybody needs an additional revenue stream. Definitely the bookmaking business, aka the bookie business, is booming in the US thanks to the legalization of this industry in many states.
Taking this into consideration, becoming a bookie could be an option. You might be thinking, wait, I can’t invest thousands of dollars in a bookie software just for myself. This is where you can consider the PPH (pay per head) option.
This basically works like this. RealBookies outsources the booking software at a low cost per active player weekly. Not only that, with the same service you get access to a back-end that will provide him all the tools to analyze the action and make wise decisions while evaluating their action. Bottom line: easily checked and it’s just a click away.
The way it works is that we provide the website and the bookie (you) will just concentrate in getting new players. Also with this type of business, the bookie or some of them are called agents, will be liable for the winnings and losses of their own players. The pph works as the vehicle to get that financial independence everybody is looking for. You can handle the players as cash or credit. It depends on how well you know your clientele.
Depending on your own circumstances, the agents that stick around are because they have found a feasible way to do business. The bookie business is a profitable one for the ones that are patient enough to understand that the odds are against the players always.
With a dependable service, stardom is around the corner. It offers an online sportsbook, racebook, and casino at an affordable price. Another aspect to consider is that you can get other people involved in this business as sub-agents with a commission base setup.
Part of this academy is to walk you through what’s needed to become an agent and to understand the business.
Now is the time to teach you exactly what pay per head is.
A pay per head is a turnkey bookie solution that includes a ton of features. First off, a PPH is a SaaS (Software as a Service). PPH services license software that they host and maintain.
When you join a PPH, you have the choice of having a custom website using your domain (URL).
The in-house developers will handle the technical work. Once the site is operational, you’ll be able to run a sportsbook, racebook and casino.
The software is the most important feature offered by pay per heads, but far from the only feature.
Benefits of Using a Pay Per Head Service for your bookie business
1. Huge Betting Board: Offer thousands of weekly betting markets. Your betting board will be just as big as your competitors with a wealth of major US sports and international markets.
Here are just some of the sports your players will be able to bet on: NFL, NBA, NHL, MLB, NASCAR, UFC, F1, tennis, golf, soccer, cricket, rugby, volleyball, eSports and anything else you can think of.
2. Open 24/7: Pay per heads handle support, accept bets from your players through a live 24/7 call center, plus they ensure your website is secure and operational (99.9% uptime). 3. All-in-One Solution: Offer sports betting (sportsbook), horse betting (racebook) and casino games on your gambling website. Your players will never need to visit a competitor.
Some of the best pay per head services even have live betting (in-play) and live dealer games.
4. Linemakers: The last thing a small bookie can afford is a linesmaker to maintain the odds and adjust them based on line movement across the industry. PPH services handle odds management for the bookies, although you can customize nearly everything.
This is why we’ve been teaching you about understanding and calculating odds. While a PPH may handle most of these tasks, there are times when a manual adjustment is necessary.
5. Automation: As a bookie, you need to track bets, grade bets (process winning/losing wagers) and keep records of everything. A PPH service will automate all of these tasks. 6. Financial Reports: A bit part of being a bookie is tracking where the money is going. You get access to a lot of real-time betting and financial reports when you use a PPH.
One of the most popular real-time features is the bet ticker, which shows details of every bet placed.
What’s Left for You to Do?
Believe us, there’s still plenty to do.
A PPH will free up your time, though, allowing you to focus on the most important aspects of being a bookie, which is marketing. Without players, you’re not going to make any money.
One thing the majority of PPHs don’t do is handle the payment processing, you are in control of payments and collections.
You’ll be the one dealing with the money, which is best. With real-time reports, it’s simple to generate balances.
How Much Does Pay Per Head Cost?
The costs will vary depending upon the service. We recommend joining a PPH that’s all-inclusive like us.
What we mean by this is to join a PPH without extra charges/fees for everything. You can expect to pay $10/head (weekly fee for every active player) for a top of the line PPH service.
A PPH is worth every penny. Without a pay per head, you won’t be able to start a sportsbook unless you have a five-figure budget, which we don’t recommend investing when you’re starting out.