Here at Bet Sports Online, we get a lot of inquiries from people who want to do more than betting. There is a lot of interest in becoming a bookie, and questions on how this is done. In our bookie tutorials section, we will start featuring the most common questions that we get. One of which, is how much is needed to open a sportsbook.
Opening a pay per head sportsbook is the path that many bookies take because it’s the path that is very affordable without compromising on quality. A pay per head sportsbook is an online sportsbook software that bookies use, and paid on a per head basis. So you pay a set fee per person who uses your sportsbook each week. This means that instead of paying thousands to create your own online sportsbook, you can do this for a few bucks per person per week.
Using a high-quality software to save up on costs and improve efficiency is a large reason why bookies rely on sportsbook software. For a pay per head provider to offer, say $5 per player each week, you can become an online bookie easily. Let’s compute for $5 per player, with 10 players. That means you pay $50 for that week. It computes to $200 a month, and so on. This is a bargain, compared to thousands of dollars hiring people to create a sportsbook.
Other costs associated with opening a sportsbook is the cost of promotions or bonuses that you will offer. Often, you can recoup this from revenue and your vig, but always add this to your expenses as marketing is a big part of your operations, and will be key to grow your sportsbook.