If you are looking to start your own bookie business then the good news is that it is very simple. Gone are the days when a bookie needs to do everything on his own such as make lines, receive bets from his players through phone or text, and then grade and keep track of all wagers. Instead, anyone can start their own bookie business in a matter of minutes, by signing up with a price per head company.
These companies, provide a service to bookies, where they are the ones that handle all the work in terms of creating and maintaining lines, grading wagers, and keeping track of figures. The way this service works is that they provide agents or bookies with a fully functional sportsbook website where their players will each have their own unique user id and passwords and then can place wagers from a computer or just right from their mobile smartphone.
Wager Type Options
PPH companies offer thousands of sports betting options for players to bet on each day, along with various wager-type options such as straight bets, parlays, teasers, round robins, reverses, if win or tie bets, and live bets. This is obviously more than any paper and pen bookie could ever offer to their players.
In addition, each bookie will also have his own unique id and password so he can log into the backend of the site as an administrator and have full control over the limits and settings of each player. Also, there are numerous different reports that bookies can take advantage of to see open and graded wagers, exposure on each specific game, option to move lines, process player payments, in-depth player analysis by sport and wager type for each player, and more. These are all helpful to get a better idea of what your players are betting and how to make changes to help increase profits even more.
One of the best pay-per-head providers in the current industry is AcePerHead.com and they can literally have you set up as a bookie on their website with just a 5-minute phone call. Then all you need to do is just start adding players to your account and your new website and the sky is the limit with how much money you can make with your own bookie business.
Also, the great thing about Ace, is they have multiple different start-up promotions that a new bookie can take advantage of. For example, they have a 1 week free, 4 weeks free, or 6-week free promo that is just based on how much money is deposited initially, and they have a bitcoin promo that entitles bookies to a 20% discount in price, a free customized website promo, and a 50% off for the first 5-week promo. Depending on the size of your bookie business or just your specific situation you can choose which promo works best for you, but having multiple options is always a good thing.
Easy/Quick Steps to Run a Bookmaker Business
If you are thinking about opening up a sportsbook, then you are joining a profession that is as old as ancient Greece and Rome – and as modern as DraftKings and FanDuel. The idea of competition is one that has been part of human culture since the dawn of time, and the idea of wagering on that competition did not take long to develop afterward. The best thing about starting a sportsbook is that you take control of your financial freedom because the money that you make will depend, over time, on the work that you put into building the business and researching the wagers that you write. Let’s take a look at some steps that you can take to make your sportsbook stand out from the competition.
1. Starting the Next Great Sportsbook
When it comes to learning how to run a bookie business, there are two things that you must learn how to do. One is figuring out how to bring in new players. The other is to sign up with a pay per head platform such as AcePerHead.com so that you do not have to spend a single minute on the administrative side. Your focus needs to be on the creative side – figuring out which wagers to offer, and adding people to your client rolls.
Here’s the thing: the more wagers you write, the more money comes in. You want to keep adding players to your client rolls, not just for expansion purposes, but to replace clients that have turned into duds, either because they have gotten tired of losing money to you – or because they have hit the betting limits you set and have no more money to give you.
2. The Reality Behind Bookie Income
On average, the person who bets $100 per game will find himself down by as much as $3,000 by the end of a season. However, you need enough players to compensate for the outliers, because that average includes the guy who wins $4,000 and the guy who loses $7,000. You don’t want to miss out on the loser. If you spend enough time on customer acquisition, you should be able to get to about 200 customers without difficulty. Note that I did not say without effort, though. You will have to work to grow your business to 200, and you will have to work to keep your business at about 200 productive betting clients.
3. How to Acquire New Business
You cannot grow a book just by placing newspaper ads or putting your business card under windshield wipers at the big box retailers. You cannot hang out at your local sports bar every night for a month and expect to find 200 customers. However, there are some ways to grow your book that are almost as easy, if you are willing to be persistent.
The growth part of learning how to run a bookie business can start with word of mouth. How do you gain credence with word of mouth? You treat your clients with courtesy, professionalism, and respect. Most importantly, you pay your winners in full and on time. If your clients are going to work talking to their friends about how their bookie paid them on time, then their friends will ask for your contact information. People enjoy talking about themselves, particularly the luck they’ve fallen into and the accomplishments they’ve made, so when they pick up betting winnings from you, you will build the business.
But what do you do when you have no clients? Remember that sports gamblers tend to know one another. What did you have to do the first time you wanted to place a bet with a bookie? You had to talk to someone who was already gambling to get the introduction. The good news is that gambling has become even more popular over time, which means that there are more and more possible customers for you.
If you are thinking about turning the knowledge about how to run a bookie business into an income stream, the chances are that you already know people who wager on sports, and some of them are likely to be looking for a new place to bet. One way to build business is to tell possible customers who had a bookie already that they would never return to their former bookie if they try your business out. If you are doing the best job in the business, no one will go back to their former bookies.
Another way to get up and running, particularly if you are starting small, is to make an arrangement with another bookie. Most small bookies stop after the NCAA men’s basketball tournament, and they will not resume until football season begins. That is about five months’ worth of action. It misses the NBA and NHL playoffs, and it also misses much of the baseball season. So when you find a player who is looking for a new bookie after the end of college basketball, you can offer him action on baseball – and you can also ask for his regular bookie’s name.
Then, you get in touch with that bookie and position yourself as someone he can recommend as staying open during the summer. For every client he sends your way, you’ll split the profits, but you’ll pay out all the losses. You guys get together once a week to look over the numbers, and you pay him his share. This can take place in person, but it can also take place online. You can grow your business as large as you want – and a service like AcePerHead.com can help. For just a weekly fee for each of your active betting clients, we provide the admin for your website. We give you access to a customizable page that you can design to your specifications, and we provide the servers that will keep your website up and running, no matter how much betting action pours through it. To learn more, reach out to one of our sales specialists!
How to Get Your Own Sportsbokbook Up & Running
Sports betting is growing in popularity each year, and estimates about the size of the global sports betting market approaching $3 trillion, $150 billion of it in the United States alone. If you have thought about starting your own sportsbook, there is room for you to make a lot of money – but there is also a lot of competition because you are far from the only person who has likely thought of this business idea.
There is a tremendous amount of upside because if you can build the revenue from your sportsbook, you can turn a hobby into a sidestream of money. If you want to make a full-time investment of your time, you can build the revenue even greater. Before you jump in, though, take a look at what you need to consider when setting up a sportsbook – and how we can help you at AcePerHead.com.
Remember that a sportsbook is not a hobby – it is a business. If you treat it like a hobby, then you will make about as much money from it as you would make from a hobby – which means that you are likely to end up losing money. When you treat your sportsbook like a for-profit, though, your odds of success are much greater. When it comes to bookie business ideas, the first step that you should take involves developing a business plan.
What is a Business Plan?
This is a document that you put together for potential investors – because if you do not have the capital to back bets right now, you should not be setting up a sportsbook. The best practice is to have a dollar in hand for every dollar in bets that you plan to take. If you set your point spreads correctly, of course, and if you have a vig in place, you should not lose all your money in one day; instead, you should stay about even, with a smooth but slow profit as time goes by (with big gains and big losses alternating, of course, depending on outcomes).
Investors will want to know what your goals and strategies are for the sportsbook. How big do you plan to grow? What sports do you plan to offer action on? What casino gaming do you want to include in your sportsbook? How in-depth do you want your horse racing offerings to be? How much money will you need to set up that initial base of capital? What will your strategy be when it comes to ensuring profits over time?
You will also want to include a section about yourself. What is your background as far as expertise in sports betting is concerned? Why should investors back your book instead of another book? Have you had success in other business areas? These are all things that should go into your owner profile, which should be a part of your business plan.
Moving your Sportsbook Online
Without an Internet presence, your sportsbook will never grow beyond the size of a cottage industry, even if it does make it further into profitability than a hobby. You might enjoy those old films where the bookies are running around with envelopes and stacks of cash, but you do not want that life for yourself – the paperwork will drive you nuts. Instead, you want to move the operation online, so that your website can deal with the nuts and bolts, and you can stick to the creative side of the business. After all, that is why you got into sports betting in the first place, right?
When you move online, you have two choices – develop the sportsbook website yourself or find a pay per head platform to host it for you. The first option gives you total control of all areas of operation for your sportsbook, and there is something to be said for being the only person involved with the admin. You do not have to worry about someone else letting a server crash at just the wrong time, and you do not have to worry about the choices that someone else might make as far as which payment platforms to allow access to.
However, one reason why pay-per-head platforms have become one of the more popular bookie business ideas is that most new sportsbook owners understand the undertaking that setting up their own website involves. You have to purchase your own software, and then you have to use it – and if you do not have experience in web design, that is a learning curve that can set your launch back weeks, if not longer, especially if you do not have the funds on hand for the software.
Pay-per-head platforms offer sportsbook agents access to robust networks that have already been created and are ready to host more sportsbooks. When you sign up, you get access to customization options that will allow your sportsbook to look like you designed it yourself – especially if you choose one of the platforms higher in quality, like AcePerHead.com. If you go with one of the cheaper sportsbooks, you will have fewer options for customization.
You will also have choices with respect to the leagues that your betting clients can wager on, along with casino gaming options and horse racing track availability. When you go with the “value” sportsbook platforms, you end up paying less per week in fees for betting clients, but you also end up bringing in less money. Your clients will not bet as much per week, and the clients that you have are more likely to jump to online sportsbooks that offer more variety. You will have a harder time building your business because your competition will include sportsbooks with so much more variety available.
If you think that AcePerHead.com sounds like a good place to start building your sportsbook’s online presence, then give one of our sales staff a call. We will set you up with a 6-week free promo so that you can see for yourself what we offer!
Where Does the Future Lie?
Savvy bookmakers are always on the lookout for the newest and most profitable trends in the industry, this is how they manage to stay one step ahead of the competition.
There are many trends in the online gambling business, some are fads that never really take hold, and others have proven to be the way of the future, not surprisingly, this year mobile bookie software is once again taking center stage.
According to consumer reports Americans spend on average 5 hours a day on their mobile devices, this is a significant increase from stats from previous years, and it is a growth that is expected to continue at the same rate for the next few years.
What does this mean for online bookies?
Simple, it means they either upgrade to better mobile betting software or risk losing their position in the market. We all know firsthand how difficult and costly acquiring new players can be, and how easy it is to lose them when they find betting platforms that better adjust to their needs.
Therefore, keeping up with the times is not an option anymore, it is a necessity, this industry has always been cutthroat but now that technology has become such an integral part of the equation, there are more threats than ever. To survive, bookies need to understand what the real needs of their players are and come up with creative solutions to procure them, in other words, they need to become visionaries.
Partnering with a like-minded pay per head such as AcePerHead.com is a great way to provide creative solutions to player requirements, with the most updated and robust mobile bookie software in the market, players can log in to their accounts at any time and from any device and have access to the complete suite of betting products provided by Ace Per Head.
There are numerous advantages of using their platform over those from competitor sites, for starters, there is absolutely no lag time, thanks to their global content distribution network, which utilizes catch servers in more than 60 different data centers around the globe, the site will load in record time regardless of where the customer is at.
Security and privacy on mobile betting platforms have always been a concern for users, this is an issue that has been thoroughly addressed by the IT department at AcePerHead.com, as part of the network the mobile betting platform is backed with the most sophisticated online security, the latest SSL standards have been implemented ensuring all data transfers are encrypted, and with the most advanced firewall systems in place all data is secure on their servers.
The mobile platform provided by Ace Pay Per Head does not lose perspective on its core business, the bookies, and thus the agent console is also available to be accessed on any mobile device, making it easier for agents to manage their businesses from wherever they may be.
Considering all this, the mobile betting platform provided by Ace Per Head can easily be considered as one of the most profitable applications for online bookies. And with new features and system improvements being added constantly this is where the future of online gambling is heading.
Build Your Betting Business
If you want to build your online sports bookie business, you need to reach out. As an independent bookie, you have the opportunity to pair with businesses for sales leads and offer a personal touch that large commercial books don’t.
You also need the best pay per head bookie software. At Ace Per Head, we offer bookies the latest in sportsbook technology that’ll help you win new customers for your business.