7 Steps for Operating Your Own Online Sportsbook
It's indeed possible to operate your own online sportsbook from the United States courtesy of a full service Pay Per Head software and call center platform. AcePerHead.com suggests these seven steps in getting started.
Understand State Regulations
The AcePerHead tip: "Since each area (jurisdiction) has different rules and regulations, it is important to go through an experienced and knowledgeable attorney because even if two states are both allowing sportsbook businesses to operate, there still may be different rules for each state."
The more restrictions a state implements, the better it is for the bookie. Oregon, for example, does not offer wagering on college sports using the only state regulated app. A state like Michigan, on the other hand, has very little in the way of any limitations on what can be offered with the exception of some entertainment and political bets. Michigan is one of the few states to allow online casino games via state approved apps. The AcePerHead PPH platform comes with its own online casino.
Betting Software for Bookies: Your Biggest Questions (Answered) @aceperhead https://t.co/tvwdSDekPX via @YouTube
— gambling911 (@gambling911) October 22, 2023
Find a Pay Per Head That Makes Sense
AcePerHead tip: "These companies manage all the lines for every game and update the odds up to the second and then automatically grade all open wagers on that game, which then gets updated immediately to the player’s and agent’s overall balance in their account. These companies work 24/7 and have decades of experience making and managing lines and being a bookmaker, so as the bookie you can sit back and let them do all the technical work.
"They provide you with a website URL to give to your players and from there you will have an agent account that has all your player accounts and information accessible within the agent account."
Find Your Players
AcePerHead tip: "The best way to do it is by word of mouth with family, friends, coworkers, schoolmates, social media friends, and friends of friends."
Twitter is amazing for this. There are so-called "Twitter bookies" who operate off the social media platform almost exclusively. We've seen "Twitter bookies" with 200K or more followers. Be careful though, some of these "Twitter bookies" simply cannot be trusted.
Operate Sensibly
Make sure that you use the SMART method of goal-setting. Like with any other startup, it’s important that your bookie business sets objectives that are:
- Specific to your sportsbook’s individual needs
- Measurable and quantifiable
- Achievable and realistic for your current stage of business
- Relevant to the vision and mission of your bookie brand
- Time-bound and realistic within that timeframe
You will need to create an annual budget, or even a quarterly.
These are your typical costs:
- Website development and design services
- Plugins that let you communicate with gamblers
- Payment and billing technologies so that people can place bets
- Communications technologies to talk to bettors (a customer service cell phone, a sportsbook domain, etc)
- Security features and firewalls to keep your website and bettor information safe
Seek Out Expert Help When Needed
This shouldn't apply exclusively to the art of bookmaking. We're also talking accounting, security and even marketing expertise.
Understand the Many Pay Per Head Features
When running your online sportsbook, these are some of the many features you'll need to get familiar with:
Fully configured boards, lines, players and limits
Custom prop builder
VIP live betting
Custom prop builder
Full mobile betting integration
Bet Ticker
Line Movement
Real-time wagering alerts
Limit setting
Add payment methods
Report generation
So Much More...
Keep Improving
AcePerPlayer tip: "Bookies can make $50,000-$100,000 in a single week if they work hard and make smart decisions. This amounts to around $5 million in a single year. However, you’re going to need to take actionable steps to expand your sportsbook if you want to get rich. Remaining appealing to bettors is key. If your site becomes outdated, bettors are going to believe that you don’t care about your sportsbook. This is a surefire way to drive them to competitors. You need to constantly monitor trends in web design for sports betting services."
- Frank Doyle, Gambling911.com
