How to become a bookmaker on Internet: business features
A lot of people have bet on sporting events at least once. Especially during major football championships or Olympics. The fact is that the bets further stimulate interest in the game and create new grounds for discussion with friends. Also, there is a large stratum of players for whom sports betting is a way to earn money.
Bets are accepted by bookmakers. They usually do not do it in offices. The most popular place to find luck in recent years – the Internet. Try to win by betting a small amount of money, you can on specialized sites or in applications for smartphones.
Can you become the owner of such a site or application? What is needed for this? Many players think about moving to the side of the organizer of the sweepstakes. After all, it is almost obvious that it threatens to make big profits.
What is necessary for the start?
Suppose you decide to become one of the thousands of bookmakers on the Internet. Where to get a site? How to install and configure it? Do you need employees and what should they do? When do I need a license and how do I get one? How much will you earn? This is just a small part of the questions.
Let’s start with the main thing: earnings bookmaker directly depends on the number of bets. Ideally, they should be more than 10,000 per day. The bookmaker does not matter who loses and who wins. All odds are calculated in such a way that the turnover of bets remains at least 10%.
If clients have placed 10,000 bets of $1 each, it is easy to calculate that you will get $1,000 in profit.
It turns out that the task of the organizer is to attract participants and determine the appropriate odds for the maximum number of events. There is advertising for the first one. For the second – a specialized software. It minimizes the human error factor and allows you to accept bets 24 hours a day, 365 days a year.
What about documents? Where and how to get a license?
In most countries of the world, betting is quite legal. All you need to do is to get a license, which gives you the right to conduct such activities.
The cost of a license is high. In the long run, you can earn them on the rates for several years. But, at the start of such a sum have a few people. What can we do about it? There are options. First, you can legally work under a franchise scheme with a provider who has a license. Secondly, no one obliges you to work exclusively in one country. The principles of online betting are the same all over the world, and players are interested in the same matches.
Also, you can get the popular gaming licenses of Malta and Curacao. They allow you to work in the entire European Union. Also, allow you to connect any European bank to receive payments. The cost of these licenses is much cheaper.
Why is it profitable to open a bookmaker’s business online?
In the third millennium AD, this question is not appropriate to ask. Of course, offline betting points have their advantages, but it is more difficult to open them, and the audience, though it will be permanent, but very limited.
Here are advantages of the online version and all of them are quite serious:
- There is no need to spend money on rent and maintenance of the office;
- You need less staff: 5 people enough to serve the site with the traffic of 20,000 people per day;
- Quick access to a huge audience, including foreign ones;
- A large number of advertising channels;
- The simplicity of depositing/withdrawing money through payment systems;
- Possibility to accept bets in cryptocurrency.
Opening a business on the Internet requires minimal cost and time. It is enough to choose a suitable supplier of ready-made solutions, pay for the installation of your casino or poker room, attract players and start earning.
Can I make a bookmaker’s site myself?
In theory, yes. Need a designer and several programmers who can create a bookmaker’s site from scratch. If you find really good professionals, then for a few months, this task will be solved. But it is not a fact that you will not face a lot of problems, ranging from the choice of hosting and ending with the complexity of data processing and the work of payment systems.
If you decide to calculate the odds yourself, you will need a team of sports analysts. Or you will have to buy this data from specialized providers. Errors in the odds calculation will lead to losses.
Good programmers and analysts are not cheap. Try to calculate the cost of work of the team of specialists and compare it with the offers of suppliers of ready-made solutions. The last variant is more profitable. This applies not only to the financial side but also to time and reliability.
Advantages of ready-made solutions:
- You get a solution in a matter of weeks (and even days);
- There is a wide range of already working models and design options;
- Assistance in obtaining licenses and documents;
- Help in advertising the site/application;
- Access to the knowledge base to solve most of the problems encountered on the way;
- Qualified business support.
Technical support also costs money. But these expenses are inevitable in any variant, whether you have your development or a real casino. Besides, technical support and service are not only about solving unexpected problems. The software is constantly updated and improved.
If you work with a specialized company, you can always be sure that your online casino is working properly.
What if I need a unique design and toolset?
Usually, there is no problem with this. Yes, some companies supply only standard solutions: you can choose the design from the ready-made templates and the type of site/application. But there are also service providers that are flexible to respond to customer requests and allow you to customize anything. And price tags in the first and second case may well be the same.
The size of income?
Many bookmakers talk about their income, saying that it ranges from 10% to 40% of turnover. These numbers don’t say anything, because no one calls the absolute figures for earnings anyway. By the way, the percentage of small rates in the region of $1-5 are the most profitable. These bets make about half of all players.
The size of the turnover is also important, and it depends heavily on the marketing and quality of your service. The more stable your site will work, the better configured all the processes, the more positive feedback from the players he will get. In the future, the growth of new users will provide word of mouth.
One thing is certain: betting business is one of the fastest ways to increase the starting capital. At the same time, it is quite legal in most countries of the world.
The volume of the potential audience of clients, we will repeat, is huge. Who is a typical player? As a rule, this is a man, aged 18 to 45, interested in one or more of the most popular sports: football, basketball, hockey. Recently, this list has been supplemented by cybersports. Bets on the results of matches on Counter-Strike became the norm long ago.
These people are actively interested in the news of the sports world, watching the achievements of their favorite teams. Stakes for them are a nice addition to the sports broadcasts, and online casinos are a way to spend time after a busy day at work.
These people are millions in any country. Therefore, your earnings are determined only by your activity in marketing.
How to start?
The easiest way is to get advice from one of the standard solution providers. Yes, you are already on the site of one of them and you can just talk to a consultant in online chat. Also, with the help of Google, you can easily find a few more similar companies. Get advice from them too, reduce all the pros and cons of each company in the table, analyze and make a decision.
Another way: find the owner of such a business and ask him about all the nuances. Such people can be the source of the most valuable information. If they want to, of course.