Now is a better time than ever to become a sportsbook owner. With a good work ethic and the right tools to get the job done, you could become the next sportsbook success story.
Sports betting has gone mainstream and more people are starting to bet than ever before.
A lot of the attention on sports betting has been because of legalization. If you live in the US or you follow the sports betting industry, you likely know sports betting is legal in New Jersey.
New Jersey legalized sports betting in 2018 and the first bet was accepted on June 14th 2018. Since that time, nearly $3.8 billion has been wagered on sports legally within the state.
That’s a huge number and there’s many more billions being wagered with offshore sportsbooks.
As a sportsbook owner your job is to get as much action as possible. You can easily earn a piece of the money being wagered on sports by setting up your own offshore sportsbook online.
Requirements to Start an Online Sportsbook
Many assume they need a huge budget to start a sportsbook. That’s not the case. You can start an online bookie today by joining a reputable pay per head (PPH) sportsbook service.
Trying to launch a bookie on your own would be extremely difficult without employing a big team to develop the software and at that point the development costs would become unmanageable.
Here are the only requirements to starting an offshore sportsbook.
- PPH Software: This is the biggest requirement. PPH shops make the task of launching a new bookie simple by offering you a complete package, including the software suite, a reports feature to track everything, odds management and support, among other features.
- Bankroll: You need money to pay for the pay per head service. Expect to budget around $10 per week for every active bettor you have. You also need a bankroll to payout winners the first few months while you build up your clientele and betting turnover.
- Time: Launching a sportsbook will take up a lot of your time. Many of these tasks can start to be automated eventually or you can hire help as you grow as well. However, the first year is going to be busy and you need the time to commit to successfully running your business.
It’s entirely possible to become a millionaire as the owner of a sportsbook. It’ll take time to build up your player base and revenues, but there have been plenty of other similar success stories.
The first step is to join a PPH service and get your custom website launched. Then you can start to onboard any players currently betting with you and begin to market your new sportsbook.
If you provide excellent service and operate a competitive sportsbook that rewards loyalty, you’ll find that you’ll grow organically through word-of-mouth. Before you know it you could have 100s of players actively betting in your sportsbook making you plenty of money.
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