Create a Bitcoin Sportsbook
Watching movies or television shows where any type of sports betting is involved, you will most likely see a large man holding a small, spiral, flipbook as he writes down information in pencil. And he will also be wearing a sports jacket and a fedora adding emphasis to the fact that he is to be taken seriously.
This old school method is how sports betting was done thirty years ago.
There were no fancy computers, software analytics, and bitcoin sportsbook software websites that would be two words foreign to anyone at that time. Bitcoin itself wasn’t a thing until 2009, so, all in all, it’s a relativity new concept.
As much as people loved being able to go down to the local bar, throw 100 dollars on their favorite team to win, technology and advancements in finance have changed the way we place our bets.
What Are Sportsbooks?
For those new to the concept of gambling, let’s break down the terminology a bit for you.
Sportsbook software sites are a place where players can go and place bets. It keeps track of who bet what on whom and for how much. Pay per head software sites are the companies that bookies report to and often accept bets for everything from horse races to political debates.
There are many pay per head bookie websites available, and you can place multiple bets with multiple sports like American football, baseball, basketball, hockey, soccer, golf, tennis, boxing, etc… Since they are able to set the odds themselves, you will often find that each one may have slightly different odds than the other.
It’s a good idea for the person who is placing the bets to have still some modicum of knowledge on how the process of odds and how to calculate potential outcomes. These companies take bets. They do not advise you on how to place your bets.
Bookies are the agents that act as the go-between for the consumer and the bitcoin sportsbook software company. They are the ones that bettors will deal with directly.
How bettors interact with independent bookmakers has also seen a drastic change since the advent of the internet. At one point, it was through phone calls and meetups; however, with everything going digital, that is no longer the case.
With text messaging, emails, and digital transfers, there is often no need for a physical meet up with your bookie. Most people never meet their bookie face to face.
Bitcoin Software Betting Sites
In 2009, bitcoin changed everything. As open-source software, bitcoin is not owned or controlled by any overseeing banks or entities. Without the control of banks, bitcoin can operate freely, and all of the transaction management is carried out over the collective network.
Bitcoin is ideal when it comes to sports betting for a myriad of reasons, but the most important by far is the level of security it provides.
Bitcoins security is one of the reasons that many bettors prefer to use this medium over traditional means. When betting online through your usual channels, you are required to have a bank account or credit card on file.
This method runs the risk of potential hackers getting their hands on your information. With Bitcoin betting software, your information is so secure that it’s virtually unhackable.
Creating a Sportsbook
If you are starting a new bookie business or are a seasoned veteran when it comes to the game, you should understand that a bookie is only as good as his tools and sense of organization allow them to be. Keeping track of every client and every bet is step one on the path to your success.
Step two is having the ability to scale for growth. This is where sportsbooks come into play.
Creating a bitcoin sportsbook is a lot easier than you think. The first step, and possibly the most crucial step, is to choose the right company to host your book of business.
Do your research and make sure that the sports betting software sites that you use have all been vetted and are legitimate organizations. All too often, bookies get the short end of the stick by setting up accounts with businesses only to have them go bankrupt.
Needless to say, this does not bode well for the pocketbook.
Leave room for growth. Yes, current needs are important, but you also want to be able to scale your business and take on more clients, so think long term strategy.
Pay-Per-Head sportsbook software sites are often the best bet as you are paying for each bettor rather than on a sliding scale ratio.
Bitcoin sportsbook software sites are the next major trend in sports betting. The value of bitcoin is solid, and its security features far surpass that of traditional banking means, and they are as simple to join like any other sportsbook.
Creating an account with each PPH sportsbook is as simple as logging on and clicking the “Join Now” button they have on their website. Follow the steps to set up your account, and once everything has been confirmed, you are open for business.
If you decide that you are going to accept more than bitcoin bets, make sure you have added a bank account to accept such transactions.
When inputting your information to accept bitcoin sportsbook transactions, you will need your bitcoin address and private key, so make sure to have that information somewhere handy but secure.
There is a risk involved in becoming a bookie. You are relying on the success and failure of your clients. You must approach this as you would any other business and make sure to market yourself to your key audience.