Successful Gambling Business
If you are looking to run a successful gambling business by taking action on sports then the best way to do that would be to use a pay per head provider.
These services provide bookie agents that want to book action with a website with thousands of sports betting options that players can wager on each day. The odds and lines are managed up to the second and directly by the pay per head sportsbook provider.
The reason they are called pay per head (PPH) is that that is how the pricing structure of the service is handled. These companies such as www.AcePerHead.com charge a flat fee of $10 per active player per week and then the agent will only pay for a player if the player had a graded wager for that week. So this just simply means that if a player does not bet that week then you will not get charged for that player that week. So if you have 100 players but only 62 players had graded wagers that week then you will only pay for the 62 players, which would be $620 for that week.
Then whatever the players win or loss for that week you as the agent will keep 100% of those profits. In addition, if a player makes 1 wager or 1,000 wagers that week the price will still be the same $10 for that player. There are no hidden fees, and this leaves agents with an unlimited potential of how much they can earn each week. Bookies that have 62 active players a week can make anywhere from $4,000 to $50,000 a week, which will just depend on the type of bettors you have.
People that bet on sports all lose over the long term, and depending on how much money your players bet, will go a long way in determining how much money you will make. Sure some people may make only a few $25 bets per week, which means that your earnings for a player with a betting style like that will be much less than a player that bets $300 a game and bets 20 different games a night. There are all types of bettors such as large bettors, or small-time bettors, everyday bettors, just NFL bettors, or you’re flat out degenerate bettors that will bet all day long and on anything that is available to bet on.
The key to being a successful bookie is to have as many players as you can in order to give you a nice diversity of the type of bettors that you will be booking action from. The other important thing is to just start by taking action from people that you know and trust. That is important because even though all players are going to lose over the long term you do also need to make sure you can actually fully collect what people lose.
It doesn’t do any good to let someone lose 5k in one week when you know they are a person that only earns 1k a week from their day job. This doesn’t do anybody any good, so it is important to keep realistic limits specific to each person, that way when they do lose they can actually afford to pay what they lose. That is important because being greedy when taking action does not mean you will always make the most money and be successful from your gambling business. Instead, it is wise to keep limits for each player at an amount that each player can afford to pay.
Pay on Time!
The other major thing is to make sure you always pay the people that win, promptly and in full, in order to build a great reputation for yourself. Just by doing that you will keep your players happy and it will lead them to refer their friends and family to bet with you as well since you have built up such a good reputation because no one wants to bet with someone that can’t get pay when they win or pays slowly when they win. So if you can do that you will be well on your way to establishing a successful gambling business.
A Brief History of the Sports Gambling Business
Everyone should know a bit of history about their favorite hobby. If your favorite hobby is sports gambling, please enjoy this brief history with us.
The watching and betting on televised sports are now commonplace in modern society. But people often wonder how it all began.
In this article, we will take you through and explain a brief history of betting and how it turned into something so popular. Read on to find out more.
The Emergence of Sports Betting
Gambling on sports outcomes can be traced back to over 2000 years ago in Ancient Greece on some forms of sport such as wrestling and their Olympics. However, records are sparse from that period; it is not until Roman times that various writers really document sports betting.
They were mainly betting on chariot wrestling and gladiatorial events, with some of the favorites often lavished with prize money and glory if they won. The most famous chariot race being Gauis Appuleius who won 1462 out of 4257 races that he participated in.
His personal fortune, adjusted for inflation, was around 15 billion dollars, making him the highest-paid sports star in history. It’s not clear what the odds would have been to bet on Gauis to win; however, it’s clear it would have been a pretty safe bet!
The Medieval Ages
Sports betting was a popular pastime until the middle ages when a shift in religious practices meant a divergence away from entertainment and sporting events. People saw betting as frivolous and not keeping with the more simple life that the religion depicted.
This was also the case with things such as theatre and literature that wasn’t concerned with religion. Medieval times deemed that anything that didn’t have God as a focal point was associated with the devil. Sports betting and other things of that nature were then forced to be conducted in secret.
This actually cemented the tradition and popularity of sports gambling where people would bet on cockfighting, dice games, and cards. However, it was a pastime usually reserved for the elite, due to the inequality of the wealthy classes and serf population. Poor people did not have the time or resources to indulge in gambling, let alone secret organized events.
As far back as 1190 on Richards the Is crusades anyone below the rank of a knight was banned from gambling. It was a recreational activity that was only enjoyed if you were from the correct lineage or favored by royals.
Betting in Modern Day
In the 20th century, you saw a real explosion of sports betting due to the formation of various sporting governing bodies such as ice hockey, basketball, American football, and darts.
This plethora of new sports that were cheap to watch and view on the television from the 1950s and onwards meant that sports betting was something that was no longer reserved for the upper classes.
The introduction of telephones, an increase in betting shops, and a lifting of restrictions on gambling laws made it easier than ever before to place bets and win big on sporting outcomes.
A Brief History of Sports Gambling: What Next?
We hope this article on the brief history of sports gambling has given you a good picture of how gambling how evolved through the centuries and different civilizations.
How do I Start?
Starting an online gambling business on your own can be difficult and risky not to mention extremely costly. If you really want to jump on board the best way to work with a pay per head company.
A pay per head (PPH) is a company that provides online gambling services including sportsbook software, servers, and databases, and of course the lastest sports lines and odds.