How Much Do You Need to Start a Pay Per Head Bookie?

Being curious about how much you need to become a bookie is part of the process. The best part is that you do not need to be the richest man in your state to open a sportsbook. But, it is best to have enough money before starting a business.

This article does not tell you you need $100, $1000, or any other figure. It gives you a picture of the likely figure you are likely to spend to launch and run your business based on various factors.

Should You Go Big or Small?

There is no problem starting small or big. The size of your sportsbook depends on the number of players you have and their average weekly wager amount.

For example, you can have ten players, each wagering an average of $1000 weekly. You can have the same number of players, each wagering an average of $100 weekly. This makes you a small or big bookie, depending on how much your players wager.

So, depending on your weekly handle, you need a bigger or small bankroll. If you have high rollers, you have to go big. This means your bankroll should have much more money than when you have low roller bettors.

Another way to look at this is the number of sports markets on your menu. For example, if you have 20 sports betting markets, you can expect more bets, increasing your risks. In other words, you need much more money to support your whole menu.

When you start small with one or two betting markets, you might not need thousands of dollars in your bankroll. However, you still need to consider how many betting lines you offer for those two sports. If you cover every event, you need a bigger bankroll.

Do You Need Capital?

Apart from having a bankroll, you need some money to start your bookie business. This cost does not go to website development or hiring staff. Instead, it goes to the pay per head provider.

Usually, your pay per head shop will provide a website, software, and bookmaking tools in return for a weekly fee. You can afford this fee from the losses and vigs you earn from your bookie. However, you might need to pay an upfront fee to cover several weeks of service.

Set Aside a Significant Amount of Money

While we cannot tell you that you need $100 or $1000, you must set aside a significant amount. That way, you are always prepared for any development.

When you work with ChampsPPH, you will get a clearer picture of how much you need to start a PPH bookie. Contact the company today for a detailed insight depending on the number of players and how many betting markets you wish to offer your clients.

Image