Last updated on June 7th, 2019 at 08:03 am
Since gambling is one of the fastest growing industries, many people are interested in opening their own gambling website. However, as in any business, opening an online gambling can be very expensive for most people. There are options to help you Start an Online Gambling Business on a Budget if you know where to look.
The search for a more affordable sports betting software can however, be overwhelming. This is because in order to have a successful sportsbook, you first need to know what you are getting into. In addition, there are many factors involved when operating an online gambling business that can make or break your operation.
Every gambling operator agrees that most economical way to open an online gambling business is through a Sportsbook PPH Service. This is because instead of buying an expensive gambling platform, you only pay a small weekly fee per player. The best Sportsbook Pay Per head service in the industry is PricePerPlayer.com where you only pay $5 per player.
Starting an Online Gambling Business with a Sportsbook PPH Provider
Thanks to the Bookie PPH Industry, you can start a sportsbook without worrying about setting up the infrastructure. In addition, no need to worry about paying for a trained staff because it is included in the PPH cost. Thus, starting an online gambling business on a budget only involves three steps!
Step 1. Figuring out your Budget
We were debating whether to put this as step one or two but in the end, we agreed that it should be step 1. This is because how can you start a business if you do not know how much you can invest in it?
Figuring out a budget is important because it is synonymous with the how much you can afford to pay winners. The budget is in direct correlation with the max bet limits and the max number of players you can have. This is because you will have good weeks and bad weeks and on a bad week, you need to have the bankroll to pay your players.
For example, if you have $5,000, 10 players with $2,000 in action every month then you need to set your maximum bet for a worst case scenario. The lower the max bet the lower the risk; however, keep in mind that it will mean lower profits.
So now that you know your budget, you can use that to calculate the settings for your players. Click this link for more information about how much money you need to be a bookie.
Step 2. Find the Right Bookie PPH Provider
The next step is fairly easy if you know how to look for the best software to open an online sportsbook. Simply said, you want gambling software that is flexible to your needs and has certain key products and features.
In addition you need to look at the cost per player which should be $5-$10 per player. Anything over that is more than the industry average and considered too expensive.
For that price you can get a Bookie PPH platform that has the following products:
- Sports Betting
- Live Betting
- Online Casino
- Live Dealer Casino
Furthermore, you want the sports betting software that lets you easily create and edit your players. A good software will allow you to set wagering limits and the type of wagers a player can use.
In order to have a have a successful sportsbook, you need a reporting system that will allow you to make smart decisions. Thus, a good Sportsbook PPH will have easy to generate reports from general win/loss ratio to individual player reports.
PricePerPlayer.com has such reporting features which is why it is the best Sportsbook PPH Provider in the Industry. For only $5 per player, you get all of this plus a full support staff for your players.
Step 3. Open your Bookie Pay Per Head Account and Manage Your Players
Now that you know which Sportsbook PPH service to use, it’s time to open your Bookie PPH account. The advantage of opening an account with PricePerPlayer.com is that everything is automated when you submit your information. In addition, PricePerPlayer.com does not ask for any personal information which means the whole process is anonymous.
Another advantage of PricePerPlayer.com is that you get 2 weeks for free with not deposit necessary to try us out. On top of that, you can open an unlimited number of player and agent accounts.
So once you have your account setup, login and go to the player management section to create your players. You will notice that you can set minimum and maximum betting limits, set credit limits and enable and disable games.
Next, go to “Player Sites” to see a list of websites your players can go to place their bets. If you prefer to have your own personal website and/or toll-free number just contact the PricePerPlayer.com customer service department.
If you need more help with the PricePerPlayer.com Sportsbook Pay Per Head Services, check out our Bookie PPH Tutorials.