It’s a fallacy to believe that to be a successful bookie you require a lot of players. The quality of players can mean more than the number of players. If you want to expand your sportsbook, though, there are things you can do to ensure players call bookie agents like you.
There are plenty of misconceptions surrounding bookies and bookmaking. Many people ask, “What is a bookie?” Bookmakers accept wagers from bettors. Then, after games finish, the sportsbook operator pays winnings or collects.
Only when a bookie becomes a pay per head agent does the bookmaker become more than just an individual that accepts wagers on sports events. Once a bookie becomes a per head agent, they can offer casino and racebook wagering. Any person that becomes a PayPerHead agent can also provide two live dealer casino options and two different live betting platforms, Standard and Live+.
The misconception that without bookie software you can offer everything an agent can is a big one. Another misconception is that agents must sign as many players as possible to run a successful pph sportsbook.
Plenty of bookies provide wagering services to ten players or less. To understand how a bookie can do that and make money, keep reading. But don’t stop reading after that section. We also provide information on how our agents can expand their sportsbooks.
You can build a successful sportsbook with ten players or less
How does a bookie make money with just ten players? Math can provide the answer. The cost of PayPerHead’s Premium software is $13 per head. Right now, bookies pay $3 per head for up to 3 months. Let’s say we weren’t running such a promotion and the actual cost was $13 per head.
Let’s also say that you provide wagering services to four players. That’s it, just four players. Your overhead to offer everything we’ve already listed, the two live dealer options, live betting options, and something we didn’t list, the Agent Payment Solution, which allows you to collect and pay online, comes out to $52 per month.
$13 x 4 = $52
Now, let’s create a scenario where one of your players wagers $100 per week, another one of your players wagers $50 per week, and two of your players wager $25 per week. All stakes are traditional against the spread bets, meaning you make 10% juice on all bets.
$100 x 4 = $400 in action per month
$50 x 4 = $200 in action per month
$25 x 4 = $100 in action per month
$25 x 4 = $100 in action per month
If we count the juice, your profit in a single month is $28 because 10% of $800 is $80 and $80 – $52 is $28. That’s if you use the layoff account on every single wager to ensure you keep your bookie fee.
Our example is a simplistic one, though, which means in many cases, you may not use the layoff account, and your players could lose many of their wagers. Also, we didn’t take into account the action you will receive on live betting, casino wagering, live dealer bets, and horse race betting.
All of it helps bookies become successful. The thing to realize is that we provide tools, including the layoff account, that ensures profit. With just four players and blindly using the layoff account, you can make money.
Expanding your sportsbook
We don’t stop at just providing you sports betting options and other wagering platforms that you can offer your players. At PayPerHead, our primary goal is to help you make more money. That’s why if you choose to, we will help you increase your sports betting player count.
One of the ways we do that is to provide skins for bookie websites. By branding yourself, making yourself unique, you can gain the attention of the players you know. That should help you increase the size of your sportsbook.
You can also use the APS to encourage players to sign up with you. Because the Agent Payment Solution allows for online and mobile collections and payments, you don’t have to meet players in person before signing them. You can do everything online. Players can even deposit via the APS.
Decide how large you want your sportsbook to become
Successful bookies always make that first all-important decision. If you decide to run a small business, you can make a big profit with just ten players. Agents can even score dollars with less than ten players if the players they sign wager a lot.
If you want to expand your sportsbook, Payperhead.com provides things that will help you do that. You can also become a master agent. Make sure to check back on this blog for information on how you can rise to the level of the most profitable agents in the industry.
If you have yet to import your players, you should consider doing so. We offer more promotions than just $3 per head for 3 months. Also, by becoming an agent with us, you can participate in a referral program that pays you $100 as soon as one of your friends starts a PayPerHead sportsbook. Then, you can get 15% of their monthly deposits for up to a year.