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The sports betting industry in 2020 continues to grow and is currently a billion-dollar-plus per year enterprise. The growth in the industry is due to the improvements in technology and software. These new technologies make it possible for virtually you to start your own online sportsbook.
Initial Planning
With any business venture, the very first thing you should do is make a plan.
Businesses that fail are usually those that failed to plan properly. The same is true in the online sportsbook world. Take the time to develop a plan before becoming a bookie.
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Becoming a Bookie
You do not have to be a big-time gambler to run your own sportsbook.
Being passionate about sports and gambling is a must though.
Being a bookie is similar to running a bar. Bar owners need to know their product and how to sell it. It’s the same with running an online sportsbook.
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Starting Out
The most important factor of starting your online sportsbook is your budget. You have to have cash on hand to pay your players their winnings. If your budget only allows you to do so for a few weeks, you should consider finding an investor.
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You should also consider how much time you are willing to put in to business activities such as building your player sheet, paying and collecting from bettors, and managing any player requests. These activities can have a great deal to do with how successful your bookie business becomes.
Do Your Research
Starting your online sportsbook requires a plan, a time commitment, a budget, and it also requires some research. There are a number of pay per head companies on the market that can help in achieving your goals. Selecting the right service can go a long way in determining how successful you become.
In finding the best pay per head service, prospective bookies should be looking for some information.
How long has the company been in business?
Is the company capable of meeting my needs?
One of the biggest questions needing an answer concerns compatibility.
Quality PPH companies like Ace Per Head have sportsbook software that is compatible with any device. Most pay per head services are compatible with both desktop and mobile devices.
What sets Ace Per Head apart from the competition is that they have all features enabled for both desktop and mobile devices.
Bottom Line
In determining which price per head service to use, you will want to consider if they offer a custom website and how well the site performs. You will also want to examine a company’s average weekly hold. The market weekly hold rate is about seven percent.
Ace Per Head offers its bookies an average weekly hold percentage of 12 percent. The higher a PPH company’s hold percentage, the more money the sportsbook owner gets to keep in his pocket.
All of this can seem a bit overwhelming to a prospective bookie.
If you are considering running your own online sportsbook, consult the professionals at Ace Per Head. They can help you as you plan and establish your business.
If you are an existing bookie and are considering changing PPH services, Ace Per Head’s experienced pros can help you do that too.
