In today’s latest tutorial for those who want to be an online bookie, we will talk about the cost of putting up a sportsbook. Normally, inflation drives up the cost of everything each year. But given how successful and competitive the sports betting industry is, inflation is not much of an issue. So today, we will answer some of the inquiries we have gotten, which basically questions how much does it take to be a bookie in 2022?
If you want to know how to be a successful bookie, then you know that you should not just settle for average bookie services. You should also be aware of the cost of starting up a sportsbook. To save time, we will bring your straight to the industry’s best secret: pay per head software. This software brings down the cost of creating and maintaining an online sportsbook. Not only that, but you can also set everything up and be ready in just minutes. Most bookies use this software, as it is not the industry standard. So, it all boils down to the provider that you will use.
How Much Does it Take to Be a Bookie in 2022?
If you check out reviews to help you be the best bookie, you will see prices for a pay per head service to range from $3 to around $20. The range of services attached to this vary. Basically, some providers will give you a bare-bones bookie service for $3, while some can give you a complete full-service software experience for bookies at just $5. Whereas some $20 pay per head providers could offer the best, a same-priced provider could be offering less too. Even if you are conscious about the cost per player, then make sure that you are getting good value for your money.
Now, a highly recommended pay per head provider sets a fee of $5 per player, per week. Assuming you have 20 players, then that is $100 a week, therefor $400 a month. That is your basic operating fee. You will need money on hand for payouts, of course. You may not need to touch these funds. But there may be times when you have more winnings than losing wagers. And even if you use the vig that you earn, it may not be enough for payouts. Of course, if you manage your lines properly, this will not be a problem. But still. A sportsbook with 20 players at $400 a month plus a backup fund? Not bad for an online sportsbook that can have you earning the same amount in a much shorter time than a week.