There has been a lot of hype in the last few years about online sportsbooks being the ideal business for people looking to become self-employed. While sports betting may be a great fit for many it is not everyone.
Learning the Insides and Outs
Here we will discuss how a bookie operation works so you can decide for yourself if it is a good fit for you.
First, let’s start with the basics, What is a bookie?
A bookie is someone who posts betting odds and then accepts and then pays our winnings or collects debts from these wagers.
How do Bookies Make Money?
The term bookie comes from the bookmaker, back in the day when there were no computers, all bets were written down on a book, and the guy taking the bets was the one recording everything, hence the term bookmaker.
The key to a successful bookie is balance, just like an accountant, bookies need to balance the books, the way to do this is to receive the same about of bets on either side of a game, this hardly ever happens but the closer you get the lesser exposure you have and the better your chances of making a profit.
The profits come from the juice, this is a commission charged on every wager, the amount varies depending on the game and sport but it is usually considered 10%. The idea being that bookies, will collect from the players who lost their wagers, pay the players who won, and keep the difference.
Is Necessary to Own an Online Sportsbook to Start a Bookie Operation?
No, in fact, these days it is inadvisable for independent bookies to own their own sportsbooks, as these represent a huge monthly overhead, that will hinder the success of the business.
Using a pay per head service is the best way to get started in this business.
What is a Pay Per Head Service?
A PPH or price per head service is a company that provides all the infrastructure that an online sportsbook needs, including betting software, website, contact center, IT management, and more. They provide the service of posting lines and accepting wagers on behalf of the bookie. The bookie remains solely responsible for acquiring and retaining players, as well as paying and collecting money.
While the bookie will have a say on every aspect of the business like what type of betting odds are offered to his players, the wagering limits, and maximum payouts, the price per head company will take care of actual day to day operation, leaving the bookie free to search for new clients.
Which is the Best Per Head Service?
While many will tell you, this is a tricky question to answer because every independent bookie has different requirements, that is simply not true. The leader in the PPH business is Ace Per Head.com, and they have been for years.
The reason they are the best is that over the years they have developed the perfect structure to accommodate any bookie requirement regardless of how many players they are and how complex their operation is.
They offer the strongest betting lines and the best customer service, and more importantly, they help bookies generate higher profits every single season compared to the competition.
This should give you a general understanding of how a bookie operation works, it is up to you to decide if this is the right business opportunity for you. If you still have doubts and would like more information about the pay per head services provided by Ace Per Head, feel free to contact them today, they will be happy to help.