Are you interested in operating a sports betting site where you’re the one booking the action?
Whether you’re operating a local bookie or online bookie, utilizing gambling software is imperative to retain players. The days of having to call in your wagers are long gone.
Bookmakers have embraced technology the last 20+ years.
Benefits of Utilizing Sports Betting Software
We’re going to analyze the main benefits of using a white label sportsbook platform:
Convenience: Players expect to be able to place wagers 24/7. No one is capable of accepting bets 24/7 and using a call center will require the bookie to pay additional fees.
Players aren’t going to stick around with a bookie that still only accepts bets through phone calls.
Gambling Options: Your players will be able to bet on more than just sports when you utilize the best software solutions. You’ll have a sportsbook, racebook, casino and poker room.
Quite a few bookies still rely heavily on the NFL season. Lowering your reliance on a single sport is vital nowadays to survive and make money throughout the entire year.
Automation: Quite a few things can be automated with software that otherwise couldn’t. For example, real-time reports are automated and essentially handle your accounting.
All of the data you need to keep your business running will be available in these reports.
Want to know how much risk you have or how much you owe players at a given time? This is possible by using the reports. At the end of the month, you can see your exact profits/losses for accounting.
Betting Board: Trying to maintain, update and follow line movements is a full-time job that requires a big team even when utilizing data feeds. It’s not a one-man job.
The time to maintain betting lines increases as you add more sports and betting markets.
Nowadays, sports bettors are used to having thousands of betting options and numerous ways to bet on every game. Offering a betting board this big is only possible with assistance.
White label software providers don’t just provide the gambling software, but they also provide a lot of other features, such as maintaining the odds, grading bets and much more.
How Much Does Gambling Software Cost?
The cost for online sportsbook software varies widely based on numerous things.
For example, there are a number of solutions that require bookies to be licensed. These solutions can easily cost $10,000+/month, but thankfully, there are affordable options as well.
When you sign-up for a white label sportsbook platform, the cost should be around $10/head. Make sure you research the best options, as only a few services have all of the features you’ll want.
The $10/head fee is paid weekly for every active player. If a player doesn’t place a wager that week, there’s no fee. So, for example, a new bookie with 10 active players would pay $100/week.
Becoming a bookie doesn’t have to be expensive. Another benefit is that the profits can start piling up right away. If you’re looking for a change in life, consider starting your own sportsbook.