How To Run A Bookie Operation
Posted : admin On 7/29/2022As the top provider of sportsbook pay per head services, we know all about the sports betting industry. Needless to say, we have seen hundreds of bookies from small to large grow into a successful operation. The big question is what makes some online bookies successful and others not? Well here are the answers on How to Become a Successful Bookie from the people that know.
In essence, there is no simple answer to this question because they are many factors that affect a sportsbook operation. Setting up a sportsbook is expensive and the maintenance cost will drastically affect the profit margin of the operation.
One of the most common ways to run your own bookie operation: With the help of a Pay Per Head online bookmaking software provider. For one weekly fee that is charged for everyone of your active betting customers, you receive all the business tools you need to facilitate the operational end in a. This is a rare situation where I'd say rat the bookie out for running the whole operation. If he wasn't a dickhead trying to squeeze this 1100 out of you and instead chalked it up to an operating.
In addition, experience in running a sportsbook is a large factor. This is because an experienced bookie will know when to make the right decisions at the right time. In this article, we will define the main factors that will help you become a successful bookie.
The Cost Factor in Running a Successful Bookie Operation
As we mentioned earlier, starting an online bookie is a very expensive endeavor because of several reasons. Opening a sportsbook is like any other business because they are costs and risks involved in order to get started. There are three main reasons as to why the cost is so high and they are:
Cost of the Sportsbook Software – A good sports betting platform will usually cost around $250,000 or more depending on the software you get. In addition, the more features you choose to have, the higher the cost of the software.
Cost of Maintaining your Operation – As every business owners knows, they are monthly bills you need to pay every month to keep your operation running. Even if your gambling operation is online, you still have to pay monthly server fees, upgrade and even utilities.
Cost of Experienced Employees – If you started you operation in Costa Rica, you would pay around $1,200 to $2,000 a month per employee. If you were in the United States you would pay 3 to 4 times that amount.
How to Solve the High Cost Factor of a Bookie Operation
There are two ways to offset the high cost of an online bookie operation. The first is a white label sportsbook and the second is to use a Sportsbook Pay Per head Service.
The Sports Betting White label solution is still expensive but much less than buying the sports betting software. The usual cost is a setup fee between $24,000 to $40,000 and a percentage of the monthly revenue.
A Sportsbook Pay Per Head solution like PricePerPlayer.com offers is even better because you pay flat fee per player. So instead of paying a large amount of money and/or a commission, you only pay $5 per player every week.
In addition, by using a Bookie PPH, you no longer have to worry about paying employees or maintaining the software. This is why using the PricePerPlayer.com sportsbook pay per head service will help you have a successful bookie operation.
What is a White Label Sportsbook?
The sports betting industry in the United States alone generates billions of dollars in revenue every single year. Recent changes in the law has opened the door to states such as New Jersey, Delaware, Mississippi and Pennsylvania to join Nevada in offering land-based sportsbooks as part of their casino and race track operations. Offshore sportsbooks in countries such as Antigua and Costa Rica are also in the mix and these operations have been taking action online from US bettors for the past few decades.
While both of these options continue to handle quite a bit of sports betting action on a weekly basis, the private bookie running and managing an independent sportsbook still accounts for more than 60 percent of the total revenue in what continues to be a rapidly expanding sport betting market.
One of the most common ways to run your own bookie operation:
With the help of a Pay Per Head online bookmaking software provider. For one weekly fee that is charged for everyone of your active betting customers, you receive all the business tools you need to facilitate the operational end in a business of this nature.
As the entire sports betting industry continues to evolve, so does the overall business model for running and managing a private bookmaking and operating white label sports betting platform. Over the past few years, a viable alternative to the standard Pay Per Head option has emerged. Known in the industry as a White Label Sportsbook Platform, independent bookies can basically mirror what the big online sportsbooks bring to the table with their elaborate betting sites and create their own sports betting website in a matter of minutes with a PPH provider.
One company leading the way
By utilizing the aforementioned cutting edge technology is Real Bookies. While a big part of its business is still offering quality online sports betting software solutions through a price per head business model, it is also leading the way with White Label Sportsbooks that offer a turn-key solution to booking sports betting action online.
The easiest was to think about a white label solution as opposed to the traditional price per head model is an all-encompassing approach to running a private bookmaking business on a global scale. Real Bookies can provide you with a professional online presence through its PPH services. However, by going with a white label solution, your bookmaking company’s website will be built from the ground up with everything you need specific to your particular business plan.
The Benefits of a White Label Sportsbook
One of the biggest benefits of operating a White Label Sportsbook is flexibility. Whether your goal is to run a full-service online gaming site complete with a racebook for horse betting along with an online casino or just concentrate all of your efforts on sports betting, Real Bookies can develop a product that allows you to meet all of your business goals. Since it is building your online sportsbook from the ground up, you will always have direct input into its overall design.
Another very important benefit of going with the white label solution is the ability to create an extremely high level of is professionalism for all of your online marketing efforts. Your company website will have the look and feel of even the biggest online sportsbook in today’s crowded marketplace. The offshore books have spent a small fortune developing their online sports betting portals. For a fraction of the cost, you can match and, in some cases, exceed everything they have to offer today’s highly sophisticated sports bettor. This is crucial in a business environment that has become extremely competitive in recent years.
The main reason why private bookmakers still control over 60 percent of the sports betting industry hinges on the higher level of customer service and personal attention to detail that the big books simply cannot match. Backing up that edge in service with a high-quality online betting venue such as your own White Label Sportsbook will lay the proper groundwork for a bookie business that can meet all of your financial goals both in the short term and over the long haul.
Moving down the list of benefits a white label solution betting platform can provide, customer support for your business should also rank rather high. Since Real Bookies is building your company website, this will remain your primary point of contact for all of your IT needs. Regular maintenance along with product enhancements are all part of the program for a white label solution. It is like having a business partner that knows the specific intricacies of your bookie business.
Most generic sports betting online applications will take the ‘one size fits all’ approach. This can work for most bookie operations to a certain extent. Given just how important your online presence is to your overall sales and marketing efforts to grow and expand your business, a custom white label approach will separate your bookmaking services from the rest of the pack.
Some of the other benefits a White Label Sportsbook brings to the table include:
- Search Engine Optimization
Your URL will be optimized for search engine visibility. This includes meta tags for important keywords as well as content headings and other SEO tags.
- Advanced Security
One of the most important aspects of online sports betting is having every transaction conducted in a safe and secure manner. With the addition of redundant firewalls and content filters working with reverse proxy servers, any cyber-attack will immediately be isolated to protect all data and personal information. This will also help to prevent any disruption in service on a continual basis.
Is My Bookie A Scam
- Quality Sound and Graphics
How Does A Bookie Operate
To create the look of a leader, your website will be customized to match your specific business needs. This high level of customization includes cutting edge technology when it comes proper function across all browsers. This also translates to proper function on all devices from desktops, laptops, tablets and smartphones.
If you believe that a White Label Sportsbook business solution can take your private bookmaking operation to a whole new level, contact Real Bookies today to take the first step in the process. With a design team that comes from an online sports betting background, you can be up and running in a relatively short amount of time at a start-up cost that is much lower than you would expect.
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