Is It Legal To Be A Bookie & Is it Still Profitable To Open Your Own Business?
Earlier this year, the Supreme Court of the United States knocked down the Professional and Amateur Sports Protection Act of 1992. Commonly referred to as PAPSA, the act forbade private citizens from running their own sportsbooks.
By knocking down the act, the Supreme Court has allowed States to determine if they wish to legalize sports betting.
When it comes to online bookies, does that mean they can or can’t legally run their businesses?
We answer that question along with the main question on every individual sportsbook operators’ minds: is running an online sportsbook still profitable?
Question #1: Can an individual legally run a sportsbook?
The answer is—maybe.
If a bookie lives in a state that’s made sports betting legal, like Delaware or New Jersey, they can apply for a sportsbook operating license.
Sounds great, right?
Before you apply for a licence, you should read the answer to Question #2 about profitability.
Bookies can apply for a license in states where sports betting is legal. Or, they could run their sportsbooks through a company like PayPerHead.com.
By doing so, they utilize an offshore interface, which basically means they’re running a company that doesn’t even exist in the United States.
Question #2: Now that the Supreme Court has ended PAPSA, Are Individual Bookies in Trouble?
The answer is—no.
In fact, individual bookies should thrive now that the Supreme Court has said States can legalize sports betting. Check out 3 reasons why this is true:
1. Why would current players change?
Why would a current player stop betting with a bookie because the law changed? The player wouldn’t. Even new sports bettors might want to play through an individual pay per head agent.
It just makes more sense due to privacy concerns, the level of customer service gained through individual bookies, and ease of deposits, and payouts.
2. Anonymity’s the keyword
Players wish to be anonymous. The best way for them to stay anonymous is to play through a privately run online sportsbook where they know the operator will keep them anonymous.
That’s you, the PayPerHead agent.
3. Bitcoin allows for faster, safer, and cut out the middleman transactions
Bitcoin and other cryptocurrencies allow for faster and safer transactions. They also allow players to cut out the middleman, the credit card companies, who might want to know exactly what players are using their money for.
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Those are only 3 reasons why individual sportsbook operators who sign up with PayPerHead should be safe even though big organizations can now run sportsbooks in some States.
Speaking of those organizations, think about it this way, where on the profit list do sports bettors reside?
Not at the top.
That’s where casino players and vacationers sit. Major companies like MGM and Caesar’s aren’t looking to sports bettors to make money.
Use pay per head software tools, treat your customers the best you can, be fair and switch to cryptocurrency, and you’ll be safe from any giant sportsbook taking away your business.