Sports betting. It is fun, it is exciting, and it is becoming easier than ever for bettors to get in on the action.
Altogether, Americans have placed about $27 billion worth of bets in 2021 so far. If you are reading this, you probably have thought about getting in on that action yourself.
However, you may not know the first thing about creating a sportsbook. What if you were to find out that a team can set up the entire thing for you?
This is a pay per head sportsbook.
What Is a Pay Per Head Sportsbook?
A pay per head is a sportsbook that is set up and managed by a third party while you still get to be the boss. That means that for you to get started in the bookie business, a third party can create your website, provide customer support, supply you with hardware and software, and more.
What Is the Catch?
The above may sound too good to be true, and you are probably wondering what the catch to this is? Well, it is simply providing a fee for all of the new business that you acquire because of that third party.
What does this mean? It means that you have to pay per head. If you have 100 new bettors in a week because of the services provided above, you would have to pay the service a certain amount of money per person that bets on your platform.
How Much Does It Cost?
This depends on what pay per head service you choose. The industry standard is about $10 per head for every week or two.
So, let’s say that 100 new bettors place a bet on your sportsbook in a week. For the services of the third party, you would have to pay them $1,000 for that week.
However, you would most likely still make a decent amount of money, considering all of those bettors could easily lose more money than that on bets within that time.
Main Benefits
This type of service significantly helps people that are not as tech savvy. Why?
Because a pay per head service can design your sportsbook website for you, and give you the proper hardware and software needed to efficiently run a sportsbook.
The right software allows your lines to be updated in a timely matter, so that way you increase your chances of making money off of your bettors. Also, it helps create a user-friendly experience for bettors, which can also be a significant factor if they come back to your sportsbook.
For hardware, this helps protect the privacy of your bettors and helps create more security. Bettors have to enter sensitive information such as their names, credit card numbers, bank accounts, etc. They need to know that your book is a safe place to do that.
Use a Pay Per Head Bookie Service
If you want to enter the world of sportsbooks, a pay per head sportsbook can be perfect for you to dip your toes in. You will save time, have more convenience, and potentially earn more money!
For more related articles, check out our Sports section.
