What is Pay Per Head?
Most people dream about working for themselves. Running your own business takes hard work and dedication mixed with a bit of luck. The first step in the process is finding a business that you would like to run. There is no sense doing something that does not pique your interest, especially when you are doing every day of the year. Three of the most important factors for starting any business are:
- A product or service that is in demand
- A customer base for those product and services
- Manageable startup costs and operating expenses
It also helps to have the right technology in place that makes selling that product or service easier to do. One business that fits the mold is booking sports bets through your own independent sportsbook. Private bookies account for a very large percentage of the revenue that is generated by sports betting, especially in the United States. The ‘Pay Per Head’ business model provides that added support to get your bookie business off the ground and on a solid road to success.
Pay Per Head Online Bookie Software
When the first offshore sportsbooks in the Caribbean and Central America started offering sports betting online, it was due to advances in bookmaking software solutions that allowed them to conduct business on the internet.
Pay per head software solutions do the same thing for private bookies with a turnkey business system that allows you to take your bookmaking services online. For one low weekly fee for each of your active betting customers, you will receive everything you need to run your book online. Your PPH service’s main role is to process the day-to-day transactions that go into a business of this nature.
There are no big upfront startup costs other than enough cash reserves to cover any betting action you are taking in. Your operating costs are tied to your active customer base and there are no hidden fees or added costs that cut into your bottom-line profit.
Taking Your Bookie Business Online with Pay Per Head
As mentioned, actual customers are a key component of any business. Without customers, a business is just a good idea with nowhere to go. Finding customers for a bookie business usually starts with friends, family and other acquaintances looking for a way to bets on sports. From there, you can market your services to other potential sports betting customers in an effort to build a base that can support the financial goals you have set for yourself.
One of the best attributes of taking your startup book online with a pay per head service is no minimum on the number of bettors needed to contact their bookie software solutions. Whether you have a handful of customers or hundreds of bettors using your services, a quality price per head shop can handle the operational end of the business.
Given the important role a pay per head site plays in your bookmaking business, you need to perform your own due diligence when finding a online sports betting software provider that best meets your particular business needs. You should think of your PPH service as a silent business partner that is committed to the growth and long-term success of your independent sportsbook.
As in any industry, some pay per head sites are better than others. Seeing that this will be one of the most important business decisions you will ever make, you need to find a pay per head site that can meet all of your business needs. Shopping them on a per head price alone is a bad way to get your bookie business of the ground.
Pay Per Head Features and Benefits
The main feature a pay per head service offers is an automated approach to running and managing a bookmaking business. The most important benefit is a low-cost solution to automate that business. Their online sports betting software solutions package has been specifically developed to process all the daily, weekly and monthly transactions that take place.
This software also tracks and monitors the betting action coming in to help keep you ahead of the curve. No business owner likes surprises, so the ability to capitalize on opportunities as opposed to putting out fires is a huge benefit. Whether it is a daily betting recap, weekly settlement report or a monthly activity summary for each of your customers, pay per head software provides real-time business analytics that takes most of the guesswork out of any business decision.
Breaking down some of the most important pay per head features along with the benefits they provide, a short list would include:
- A comprehensive online business dashboard with vital at-a-glance information
- The ability to create individual account profiles for each betting customer along with any betting and credit limits you want to put in place
- A line setting service with betting odds for over 80 different sports
- Sophisticated online betting capabilities, including a mobile betting platform for handheld devices
- Access to a professional online business presence through a custom sports betting website
This general overview of features and benefits only scratches the surface of everything included in the low pay per head fees you pay. Any effort to duplicate these services on your own would be cost prohibitive. This adds even more value to the pay per head business model for running and managing your own independent sportsbook.
Using Pay Per Head Bookie Software to Run Your Book
Having fast and easy access to sharp betting lines allows you to build a betting board that best meets each of your customer’s needs. Your software package also provides an easy way to manage that board with line movements and changes that best meet your business needs. This is the kind of control needed to avoid any unwanted negative exposure.
Managing your customer base on an account by account basis with credit and betting limits is another way to maintain that high level of control. Most PPH services also offer a mass edit feature to make immediate changes across the entire system.
Backed by a wealth of business reports covering every aspect of your bookie business, backdoor access to your PPH service’s software fills the box with all the tools needed to build a highly successful independent book.
Creating a Full-Service Bookie Business With Pay Per Head
As an added value, a quality pay per head service offers access to other online gambling options that are proven ways to build multiple streams of revenue. Given the inherent lulls in the sports betting calendar, adding sources of revenue that can provide a steady stream of weekly profit are vital to your sportsbook’s financial health. Online applications for a racebook to bet on horses and an online casino equipped with slots, video poker and table games will also position you as a full-service bookmaker.
The racebook software app offers access to racetracks running daily cards both in North America and abroad. Customers will have direct access to any racetrack they wish to bet on and specialized reports summarize all the action your racebook takes in.
The online casino app offers access to any number of slots games, video poker machines and electronic table games.