Where to begin?
Perhaps the easiest thing is to start with the basics, a sportsbook, whether it is a physical sportsbook or an online sportsbook, is basically a company that accepts bets from sports bettors. The sportsbook offers a list of upcoming sporting events and different options on how to bet on the outcome of the same.
So for example, if the NFL season is taking place, the sportsbook will offer its clients the chance to bet on each of the games scheduled, generally, bettors can gamble on which team will win a specific game, or the total score of a game, there are also what are called “props” or “prop bets” (short for proposition bets), which are nothing but wagers on an individual player or specific event, for instance, “Who will be the first player to score a touchdown on X game”. Future bets are also an alternative, basically when players are offered the opportunity to bet on the potential outcome of a championship, such as “Who will win the 2019-2020 Superbowl”.
The number of sporting events offered by a sportsbook or the different alternatives offered to bet on each event really depend on each company, some aspects can play a role in this, for instance, the size of the sportsbook, the knowledge of their line makers, and even the software they use.
How Does This Work?
The juice is the difference between what a bettor has to wager and what that wager pays back, this depends on the type of bet and line, but to give the most common example, if I want to bet on the Patriots to win with a regular spread I will be required to risk say $110 to win $100, in other words for every $1.10 wagered the bettor can win $1. The juice is adjusted depending on the probability of an outcome or how much money is being wagered aside.
It’s a numbers game, the sportsbook tries to get as close action as possible on each side of a game in order to then win a percentage after all the payouts through the juice.
Both physical sportsbooks and online sportsbooks nowadays use a software platform to take the action, from their clients, granted, this aspect is of utmost importance for online sportsbooks since the clients themselves are the ones using the platform to place the bets, therefore it must be friendly and simple to use.
The difference between using a physical sportsbook or an online service to place your bets has to do with legality and convenience. Bookmaking in the United States, for instance, is highly regulated, it is only legal to bet in some states, even though there is legislation that will allow this to change in the very near future, at this point it is still illegal in most states. So, this has caused sports bettors to look for alternatives, and this is where offshore sportsbooks come into the picture, these sportsbooks are in countries where their activities are regulated, and some are willing to take action from clients located in the United States. Legal physical sportsbooks in the United States pay taxes and customers, of course, are protected from being a regulated business. Offshore sportsbooks pay taxes in their jurisdiction.
Online sportsbooks are very convenient since they allow bettors to place their wagers from anywhere and at any time using their mobile phone, computer, or tablet. These companies rely heavily on their reputation, big online sportsbooks have maintained throughout the years by running tight businesses, offering good service, fast payouts, secure websites, etc.
Why Should You Run a Sportsbook?
Now that you understand what a sportsbook is, you likely are wondering: can you become a bookie? Is it a worthwhile endeavor?
Becoming a sportsbook agent is a better idea in 2022 than ever before. For one thing, the sports betting market doubled in 2021, reeling in twice as much cash as it did in 2020. Players wagered over $52.7 billion over the course of just one year.
This market growth means that becoming a bookie is more profitable and competitive than ever before. There is an increasing demand for sports betting services, and it’s only getting greater as more and more sports legalize sportsbooks. You’re entering into a growing market and therefore are going to get more clients over time so that your business can expand.
Speaking of expansion, a sportsbook isn’t just a business that people can engage with locally- it’s international. Because a sports betting website takes betting virtually, you can opt to work with gamblers in all nations where sports betting is legal (and you get a license to operate). This makes going global easier than it is in most other industries.
But the main question that many prospective bookies ask is whether or not being a bookmaker is currently lucrative.
In fact, it probably will get you more money than you ever imagined it could!
A smaller bookie can make a reasonable salary of about $30,000 per year. However, they also get the chance to expand and become a big bookie. Some larger sportsbooks make $50,000-$100,000 per week, which amounts to around $5 million annually!
PPH Sportsbook Review: Why It’s The Best Sports Betting Software
To make the most money possible, you’ll need to invest in a bookie software that actually works. Pay per head (PPH) solutions are the only way to go if you want a lucrative business year-round.
To define pay per head, it’s important to first understand how traditional online sportsbooks are paid for. Most of them are flat-fee subscription services where you pay a specific amount of money to keep the site up, running, and managed. For example, you might pay $500 per month regardless of how many bets you are taking.
Unfortunately, this doesn’t give your business any room to scale. You’ll be paying the same $500 during the off-season (when you’re turning a tiny profit) as you’ll pay during major events (when you’re reeling in the cash). This will leave you shelling out more money than you’re bringing in some months.
PPH sportsbook software offers a solution to this payment problem. When you work with a PPH provider, you only pay a small fee of about $10 for each player that you are actively working with.
If you have 100 players around the time of the Super Bowl, you’ll pay $1000 (while bringing in far more). However, during the off-season when you only have 10 players, you will only need to pay $100.
This is a much more flexible payment method that keeps your sportsbook lucrative year-round. You’ll never be paying more than you’re making.
Pay Per Head Sportsbook Review: Features
When you work with Ace Per Head- the best PPH provider out there- you’ll gain access to all kinds of features. Some features that can help your sportsbook succeed include:
- A fully-custom, professionally-designed website
- 24/7 customer service for both agents and players
- Secure online chatting system for agents and players to communicate
- Automatic updates and upgrades
- Real-time network tracking to prevent downtime
- The ability to integrate with other real-time score tracking websites
- Options for automatic payment
- Cryptocurrency payment methods (Bitcoin)
- A player watch report so you can keep tabs on specific players
- VIP live betting options
- A bet ticker that shows you when lines come in
- A completely mobile-compatible interface
Security features are also of the utmost importance for Ace Per Head bookies. That’s why we assign all agents and players a numeric code for their accounts. We won’t know your name or personal information, and no one will have access to players’, either.
This keeps information off the network so that cybercriminals have nothing to access in the unlikely event of a breach. Since we encourage Bitcoin payments for both you and your bettors, financial information will also be kept off the network.
The best sportsbooks are secure.
How to Start Your Online Sportsbook
Before signing up with Ace Per Head, it’s a good idea to get a demo of our services. This will show you what the interface looks like for agents. You can also get a player’s demo to see what your clients will experience when they place bets on your PPH site.
Once you understand how the platform works, you can reach out to Ace Per Head’s web design and development experts. They will help you choose between several sportsbook-specific templates so that you can begin designing a bang-up bookie website. If you’d prefer to make a custom website from scratch, that’s also possible- we want to make your vision a reality.
At that point, we’ll link to score tracking software, set up a solid navigation system, and make sure that all payment methods are in place. Then we’ll help you launch your website immediately.
Invest in the Top Bookie Software Today
Now that you have a sportsbook review that showcases why you should become a bookie, it’s time to get started. There are so many things that you can do when you invest in setting up and running a pay-per-head sportsbook.
Ace Per Head’s experts are excited to help you make sure that you get your bookie business up and running in the most affordable and effective way. That’s why we look forward to discussing your specific needs and helping to make your sportsbook vision a reality. Create your package today to begin your six-week free trial that showcases what we can do to help.
How Does a Sports Betting Site Work?
As we mentioned before, online sportsbooks operate under the same principles as physical sportsbooks, they offer lines on different sporting and non-sporting events, in order to do this they have to use a specially designed software, there are several options in the market, some sportsbooks have costume designed their own software, but the vast majority pay a selected software company, the options vary some are more geared towards the European market while others cater more to the bettors from North and South America, mainly due to the format of the lines they handle, the sport options they offer, etc.
“The software choice is very important for a sportsbook since much of their business depends on the quality of the same. Equally important is their technology infrastructure, a good software requires good equipment to run properly, sportsbooks need to invest heavily in this to ensure a smooth operation with no service interruptions, we need back-ups and redundancy and a strong security system where client information is stored”, explained a representative of www.AcePerHead.com.
“Excellent customer service, line movers, processing of deposits and payments are key components of any successful sportsbook, the only way a sportsbook stays in business is by always being a step ahead in terms of technology and service to its clients, it’s a very demanding industry”, continued the AcePerHead.com rep.
AcePerHead.com is what is called a pay-per-head service (PPH), basically a sportsbook that offers its services to bookies that require their own websites to handle their clients. In other words, PPH services offer their platform and a complete turnkey solution to bookie agents to operate their business, in return, they get a weekly payment per active player.
We have now covered all the basics of how a sportsbook works, now the rest is up to you. If you are just getting started in using online sportsbooks, we suggest you do your share of research, there is plenty of information on reputable books and those that you need to watch out for.
Start small to try out their pay per head services, especially their payouts, and always compare the quality and reliability of each, test their system during crunch time, and ask all the questions you need to their customer service staff.