Sportsbook Business Model
If you are looking to run your own sportsbook business then there are only a couple of things you need. You need to have people that would like to bet with you, a website for them to bet on, and a small bankroll to be able to afford to pay players when they win.
Finding people that would like to bet with you is actually fun and easy. The best way to acquire bettors is by word of mouth and reaching out to all friends, family, coworkers, schoolmates, and social media friends. In addition, you can also go to places where gamblers frequent, such as sporting events, casinos, race tracks, and sports bars, and just talk with people and see if they like to gamble on sports.
Free Play Option
In addition, you can also offer people a small free play to get them started. A free play is just a specific dollar amount that they can use to make a wager or multiple wagers. For example, if you give someone a $25 free play and they used the full amount and won the wager, then the free play amount would disappear and the winnings from the wager would get credited to their overall balance. If the player ended up betting the full amount and losing the wager then the free play would also disappear, but no money would be deducted from the players’ overall balance.
This gives the player a can’t lose a chance to make a wager and enjoy the thrill and sweat of betting on a game. Also, you can offer free plays to your current players when they refer a friend that would also like to bet, which can help to grow your sportsbook business.
Choosing the Best Provider
If you have people that want to bet, or can easily get people that want to bet, then you just need to get signed up with one of the best pay per head providers that can be found online. One of the top-ranked services in the industry is www.AcePerHead.com. They have been in the business for over 25 years, and they post thousands of sports betting options for players to bet on each and every day. They also manage all the lines and odds up to the second and 24/7. When each sporting event is over, they grade all wagers and all balances get automatically updated into each player and agent account.
They only charge a small fee of $10 per active player a week, and you only get charged if the player has a graded wager for that week. So if they bet 1 time or a thousand times during the week, the price is still just $10 for that player. Then you as the bookie handle all the payments directly with the players and keep 100% of those profits.
Global Max Payout
Lastly, it is a good idea to have a small bankroll when you are starting just in case you get unlucky and players win the first week they bet. Over the long term, the players will always lose, but they will win sometimes, otherwise, then they would either go broke or lose interest if they never won at all. You don’t need a large bankroll, but the more you have the more you will be able to withstand a profitable week from your players. In addition, you can keep the players’ limits low in the beginning to make sure players don’t win too much.
Ace Per Head also has a global max payout feature where you can set a dollar amount of the most a player can win on an individual bet that is placed thru the site, as another form of protection for yourself.