How Do I Create My Own Bookie Website
Our friends at AcePerHead.com offer up three guidelines for creating your own bookie website. It's easy as 1-2-3. Just make sure you have enough capital on hand to pay players just in case you have a few bad months getting off the ground.
Bankroll is Key
Not everyone is capable of operating a sportsbook business. Sure it's easy money but you'll need some initial capital and a basic knowledge of how sports betting works.
Bankrolling your operation is critical.
AceOerGead,cin offers the quintessential numbers you need to know in order to properly fund your operation.
Estimates on How Much Money You Need to be a Bookie
- If first 6 months of operations are bad, you will need at least $70, 125 to stay in operation*
- If first 5 months of operations are bad, you will need at least $58,437 to stay in operation*
- If first 4 months of operations are bad, you will need at least $46,750 to stay in operation*
- If first 3 months of operations are bad, you will need at least $35,062 to stay in operation*
- If first 2 months of operations are bad, you will need at least $17,937 to stay in operation*
- If first month of operation is bad, you will need at least $11,687 to stay in operation*
Common Expenses
Software
When starting a betting company, the main thing to invest in isbookie software. Not only will you use software to run the platform and set betting lines, but you’ll also use it to manage finances and assist customers.
Many bookies invest in pay-per-head (PPH) services, which allow them to pay a certain amount periodically for each player they have. For example, if PPH service charges are as low as $3 to $10 per player weekly, a bookie will pay $500 per week if they have 50 players.
Keep in mind that Ace Per Head charges as low as $3/h, but other PPH services often charge more. When starting your company, get a general idea of how many players will use the platform, and Ace Per Head can help you set things up.
Equipment
Another expense is equipment, though you may not need to spend as much as you would on other things.
One of the main things to invest in is a computer with a good processor. As a bookie, you’ll find yourself multitasking quite often, so you’ll need a computer that can handle various tasks. In today’s computer market, this can cost you anywhere between $400 and $600.
If you’re starting a betting company that has a physical location, such as a casino, expect to spend thousands on gambling machines. A legitimate slot machine can cost over $10,000, so you would need much more startup capital than you would need for an online betting site.
Employees
Any time you start a company, you must consider hiring employees to help you.
One of the keys to having a successful business is good customer support. Because of this, you should hire representatives who know how to treat customers politely and resolve issues.
When outsourcing customer support to a service like Ace Per Head, the costs will be included in the PPH rate. However, American employees will expect to receive a minimum of around $10–12 per hour.
Website Development
The last major expense associated with starting a betting company is website development. Building a website can take several weeks when hiring a single person, especially if the site is dynamic. The cost can be anywhere between $1,000 and $300,000, depending on what your site includes.
To avoid paying all of this for your site, Ace Per Head can provide you with several templates to get your site up and running. This will help you avoid downtime and ensure your site is optimized for all sorts of betting.
Basic Assumptions for the Estimations on how much money is needed for becoming a Bookie
- Type of Bookie – Credit Shop
- Number of Player: 25
- Operating Costs: Since most bookies run their betting shop out of their home, we will assume that the operational cost will be $5 per player
- This is based on using the PricePerPlayer.com Bookie Pay Per Head Service for a total of $500 Per month.
- Player Credit Limit: $1,000
- Max Bet Allowed: $500
- Bonuses: none
- Banking Costs: 5% Banking Fees
- Estimated Monthly Turnover: Total amount of money wagered every month by all players
- (Number of players x (credit limit x Max bet/100)) x 5 = $125,000
- When do you settle up – end of each month
- 50/50 Action – You have excellent line and you have 50% action on both sides of each wager
- Vig/Commisssion – 10%
Bookie Profit/Loss for a Regular month
- 50% of the players get a payout that average 65% of their credit limit ($8,125 )
- 50% of the players that lose, average a loss of 85% of their credit limit($10,625)
- your monthly fees are $1,437
- Your Vig/Commission is: $5,312
This means that you end up with a profit of $6,375
Bookie Profit/Loss for a Bad Month
- 50% of the players get a payout that average 175% of their credit limit ($21,875)
- 50% of the players that lose, average a loss of 65% of their credit limit ($8,125)
- your monthly fees are $2,000
- Your Vig/Commission is: $4,062.5
This means that you end up with a loss of $11.687.50
Your Weekly Fee
AcePerHead.com charges as low as $3 per player per week. This represents a huge savings if you had to incur all this overhead yourself. Consider what it would take to hire an actual oddsmaker and you get some idea of the cost effectiveness. Maintaining a server alone is extremely costly as we here at Gambling911.com can attest to.
Security First
Every player wants to bet in a safe, secure and private environment. Today's top PPH providers feature multi-layered security system to protect you and your players. In addition, pay per head sites like AcePerHead.com feature infrastructure with several backup servers and prevention against any DDOS attacks, ensuring 99% uptime.
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