For anyone who likes to bet on sports, the idea of running and managing a private bookmaking operation may have popped into their head. If this sounds like something you would be interested in starting up, there has never been a better time.
Fortunately, the biggest thing you need to get started is a handful of active weekly bettors. By using the pay per head business model for bookie services, there is a low financial barrier to breaking into the independent sportsbook industry.
You will need a decent computer or tablet to track your business online. You will also need enough cash on hand to cover the weekly volume of betting action you expect to take in. Everything else you need is provided by your pay per head sports betting software provider.
The actual term ‘pay per head’ covers a weekly fee that is charged for each active betting customer you represent. The average pay per head weekly fee is around $10. This means if you have 10 active bettors in your customer base, you can operate a private bookie business online for $100 per week.
Understanding Pay Per Head Software Solutions
You are not required to purchase sports betting software. Working with a PPH service, you are basically leasing the necessary solutions to fully automate your bookie business. The top-rated pay per head sites all operate out of Costa Rica.
This give you the chance to take your business offshore and operate it completely online. This is the easiest, safest and most secure way to protect your business interests. This also frees up your time to build and expand an active betting base.
The only aspect of the business your pay per head provider does not cover is weekly payouts on winning bets and collecting the funds plus commission (or juice) on losing wagers. However, the best PPH services provide all the necessary tools to track daily action coming in, player positions and settlement figures.
Through the use of an online bookie agent dashboard, you have access to a number of real time reports that take all the guesswork out of the decision-making process.
You have the option to simply run an online sportsbooks for betting on the games. Yet, you will also have the ability to expand that business into a full-service online gaming site.
As part of the base plan, the top-rated pay per head sites also offer software solutions to run and manage your own online racebook for horse betting and online casino filled with Las Vegas-style slots and table games.
This added suite of software products are included in your base PPH plan at no additional weekly cost. This lets you expand your weekly betting handle and profit on that added volume without having to expand your active betting base. This is the best way to maximize the value in your weekly pay per head fees.
Profiting from Pay Per Head Software Solutions
When it comes to making money as a private bookie, you need to understand the idea of a weekly hold. A bookie’s hold is the difference between the money paid out on losing bets and the money collected plus the standard 10% commission added to losing bets.
The higher the hold, the higher the profit. Most bookies can expect a monthly hold percentage between 7.5 and 9.5 percent.