Most sportsbook operators believe they require a lot of customers to run a money-making sportsbook. That’s not always the case. Most of the time, quality customers are more important than the number of customers. Bookies that offer free betting software can also become masters agents, which means they provide no wagering services to sports betting players directly.
Since 2018 when the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act, the sportsbook industry has gone through many changes. The most significant change is how the Supreme Court pushed wagering on sports into the mainstream by striking down the law.
Take a look at most every nationally broadcast sports channel on any football, basketball, or baseball game day, and you’re sure to find at least one half an hour to an hour program about betting on sports. That’s not by accident. Sports broadcast organizations like ESPN, Fox Sports, and CBS Sports know that sports fans also wager on their teams in addition to viewing events.
Broadcasting tout shows has led to an increase in sports channel ratings. It’s also led to more wagers across the board, including bets on casino games and racebook wagers. Wagering across the board is one reason bookies that use software, pph sportsbook agents, don’t require as many sports bettors as they did in the past.
Casino and horse race betting are a couple of important reasons. Another critical reason bookmakers don’t need a lot of players is the cost it takes to run a sportsbook with excellent software and their quality of customers. Keep reading for information on how sports betting with software fees works.
Per head agents don’t require a lot of players if their players wager enough
Sportsbook operators can get away with providing wagering services to just a few players if those players wager enough money. Common sense tells us that a pph bookie agent can profit each month with only six players.
BossAction’s premium sportsbook software service costs, when the company doesn’t run a promotion, $12.99 per head. With six players, the price comes out to $77.94 per month.
If each one of those six players wagers $100 per week on a football game, that’s $60 in vig; 10% of $100 is $10, and $10 x 6 equals $60. The sportsbook owner can keep the entire $60 as profit each week. The sportsbook owner can do that by using the BossAction layoff account.
All the bookmaker must do is make the same wagers as their players. If the players’ bets win, the bookie uses the winnings in the layoff account to pay off the players. If the players’ wagers lose, the agent uses the money lost to pay off the layoff account.
$60 per week x 4 weeks equals $240 per month. $240 – $77.94 equals $162.06 per month. If the bookmaking owner runs a small sportsbook on the side, $162.06 per month for doing nothing is decent money.
We can take the illustration further by considering casino, live dealer casino, and in-game betting. Live betting, wagering on games while they happen, has become one of the biggest moneymakers in the sportsbook industry. Players can check out games via video streams on the BossAction Live+ platform. Live+ also offers a game tracker. Both will attract wagering.
Also, players call bookie agents looking to place wagers in live dealer casinos all the time. That’s another revenue stream. An extra $20 per player in profit per week equates to an additional $120 each week. $120 times 4 equals an extra $480 each month.
If we add that to our total, the profit jumps from $162.06 per month from straight layoff account football wagers where players keep the juice to a staggering $642.06 per month in profit. Why are the numbers so big?
At the most, BossAction charges agents that use their bookie software $12.99 per head. Just because players wager more, it doesn’t mean BossAction charges more. A bookie’s per unit, per head cost, will seldom rise, and if it does, it’s so minimal that quality players, those who wager on sports, casino, in the live dealer casino, make live bets, and play the ponies, will do more than make up for it.
That’s why individual bookies need to sign up quality players. It’s almost more critical for bookies to sign up players to wager in the casino and live dealer casino daily and make a few sports bets on the weekend. By doing so, agents can ensure they’re making money from their most profitable revenue streams.
Start your master agent career path with BossAction
The real way to make money as a sportsbook owner is to become a master agent. BossAction’s software is perfect for bookies to become master agents. We’ll have more information on that later.
Know for now that by starting your BossAction sportsbook, you can take part in a $3 per head for 3 months promo and make money with the best referral program in the industry. BossAction is the only pph company that offers the Agent Payment Solution, where bookmakers can make online payments and collections.