A misconception is that it requires a large upfront investment to start a sportsbook.
That can definitely be the case if you invest in a fully-licensed sportsbook in a regulated country, but 99% of bookmakers aren’t licensed and it’s an affordable business to start.
In fact, you can start for free. All you’ll need is bankroll to payout winners quickly.
How to Start a Sportsbook for Free
Starting an online sportsbook is extremely simple when you partner with a pay per head (PPH).
Free Trials: PPH companies have free trials. Typically, they last four weeks. That means you won’t pay a single fee for the first four weeks, allowing you to build up some profits.
Free trials have no obligations or contracts. You can cancel if things aren’t working out.
How Much Does Running a Sportsbook Cost?
When you partner with a PPH, you pay a small fee.
You can start a sportsbook for just a small weekly fee per player with PPH services.
Weekly Cost: Generally, the price per head fee starts at $10 per player per week. If you have one player, you’ll pay $10, if you have 10 players, you’ll pay $100. The price per head fee will decrease once you have enough players on your betting sheet.
PPH services cover all of the bases when it comes to starting a bookie. They provide the support, website, server infrastructure, odds management, customer service and even more.
So, for just a small fee, you’ll be in business.
Tips for Running a New Online Sportsbook
Here are a few tips to help you run your brand new online sportsbook:
Set Credit/Betting Limits: Your bankroll to payout players is likely small to start. Make sure you set credit/betting limits. Don’t let anyone get too far into debt and don’t allow players to take shots on you by offering high betting limits. Neither are ideal situations for a bookie.
Learn to Balance Your Book: You’re not going to have a balanced book on all markets, but you need to learn how to balance your book, especially when it comes to widely bet on games like the Super Bowl. If your players are all on side, you can’t take that risk.
Reinvest Some Profits: Once you have some profits and you’ve exhausted all options for finding new local players, you should reinvest some profits into marketing campaigns.
Join Social Media: You need to get your brand out there and the best way is to be active on social media sites like Twitter and Instagram. Target popular hashtags to get eyes on your posts. There are lots of ways to get involved with sports bettors on social media.
Promote Everything: Remember, your website will also have a fully functioning casino with live dealer games, a racebook for horse betting and even a poker room potentially. Make sure you promote all of these features to increase gambling turnover.
Think you’re ready? Start an online sportsbook today for just a small fee after the free trial ends.