Are you ready to start taking the steps it takes to become a real, successful bookie? Do you realize how much money there is to make and the fun there is to have in running a sportsbook? Then you need to read this blog to familiarize yourself with one of the MOST important pieces of your business: bookie software.
It is evident that sports betting is much more than just a passing craze. It is a legitimate money-making industry that is here to stay. Every day, in every game that passes by, millions of bets are being placed and bookies are earning significant profits. To get in on the action before the club is packed you need to do your research and make the right decisions to build your foundation.
We are here to set you up for success from the very get-go by guiding you to a true understanding of what bookie software is, how it works and why your choice of software is so important. By the end of this guide, you will be that much closer, and more comfortable with launching your own sportsbook.
What is bookie software?
Being a successful bookie is an art. Your knowledge and vision will create dazzling and exciting portraits and landscapes but to see your art take the form you need a canvas. The canvas is your bookie software.
Bookie software is more than a blank slate though. It is a tool that helps you not just bring your sportsbook to life, but keep it flourishing and working for you.
The software gives you a vast array of features that help you do everything you need to do to run a successful betting platform. From player management to line setting, and financial reporting, bookie software keeps you ahead of the game with every aspect of your book. Even better, you (ideally) get great support from the company whose software you are using, ensuring that your service stays live and operating as it should.
What does bookie software do?
You have been to sites like Draftkings, Fanduel and Caesar’s so you know what a sportsbook looks like from a customer-facing standpoint, but there is much more under the hood. Luckily with bookie software, you do not need to be a software engineer to run a clean and effective platform.
Bookie software makes operating its back-end system very intuitive. You will be comfortable managing your players and lines while keeping track of funds in and out in no time thanks to a simple interface that gives you complete control. Control is key. As the bookie, you need to feel absolutely confident that you are in control of every aspect of your book, without feeling overwhelmed by the duty. And at no point should you be overwhelmed because the best bookie software solution will be easy to use and you will know the company behind it has your back.
Player management
Player management is among the most important tools in bookie software. Without players having access to your book and the ability to wager there is no sportsbook.
Player management allows you, the bookie, to create accounts for your players and track their activity. This is key because you will know when your players tend to bet, what they like to bet on, and how you can provide them with a great experience to keep them coming back.
The user experience is no. 1 in running any business. Sports betting is no different. Believe it or not, players can have a great experience even if they lose. It all comes down to listening to them and again, CONTROL. Just like you need to have control over your sportsbook, your players need to have control over how they play with ease. A clunky and confusing sportsbook will not have players coming back over and over.
Another aspect of player management is protecting your players, even from themselves. Gambling addiction is a true epidemic that does not get enough respect. Compulsive gamblers will wager beyond their means which can have significant consequences, including unmanageable debt, food, and housing insecurity, and other mental health issues like anxiety and depression. Since many of your first players will be people you know, it will be important to you that they are OK. You can set limits on wagering per bet or over a period of time to ensure that your players are playing responsibly.
If someone you know is a compulsive gambler, help can be found at BetsOff.org or 1-800-BETS-OFF.
Line management
With your players online and ready to play it is time to set the lines. Bookie software’s line-setting feature gives you the ability to set the odds across multiple sports and games, as well as tweak lines for each event.
As you may already know, setting lines is not a “set it and forget it” activity like setting the dial on your water heater. You will want to stay on top of the events, sports news, and betting activity so your line stays competitive and you remain protected. If you see lopsided action on one side of the bet, add a little juice to the other side to entice bettors to play the other way. If done properly, you can protect yourself from major losses or even maximize your profits.
Bookie software makes this simple to do in real time and your changes should be reflected immediately.
Reporting
Yes, there is actual bookkeeping involved in running a sportsbook. This is where the term “sportsbook” gets its name. Fortunately, with bookie software you no longer need a pencil behind the ear, mountains of paper, and a calculator to keep records of wins, losses, wagers, and payouts.
The reporting tools in your bookie software keep track of everything you need to know to run a successful sportsbook. This includes player activity, betting history, financial performance, and an overview that can help you spot any pertinent trends such as performance over time.
Performance over time will be particularly interesting to you as you will find certain times of the year will be a significant boon for your business. Take the fall season for example. College and pro football are among the most-wagered sports in the world. Meanwhile, baseball reaches the playoffs, basketball starts, and international soccer continues to draw action. You may find this to be a great time to grow your business by expanding your marketing. There are eager bettors everywhere. Why not give them a place to play?
Additional features to look for
Live betting
A live-betting feature is an important one to include in bookie software now more than ever. Bettors will use this to increase their winnings or hedge their losses depending on how a contest is playing out. Plus betting in-game adds even more excitement.
Not every software will include this feature so you would be prudent to choose one that does.
Mobile support
In the vein of live betting, the ability to bet with a mobile device is important to today’s sports bettor. Even better is the ability of a bookie to manage their book on the go. You want your mobile offering to be every bit as simple to use as your desktop platform, if not simpler. This means design and functionality should be clean and easy enough to navigate that the most novice bettor can make the plays they want to make with ease.
Types of bookie software
With an overview of how bookie software works, you can now choose the type of bookie software you want to use, and ultimately choose the service you are going to work with.
There are several types of bookie software to choose from. The differences between them boil down to the options available to the bookie for customizability and how the bookie is charged for the service.
Turnkey
The most basic, bare-bones bookie software is a turnkey solution. The idea behind this software is that any beginner can “turn a key” and get up and running. It sounds great if you simply want to start the business and do not care about the presentation or customizable options. Basic does not always mean bad. There is some level of customization you may do, depending on the company you work with.
Turnkey solutions work just fine for a lot of businesses outside of bookmaking. But it is likely after some time you will find that this software does not keep up with your vision for your business and is not equipped to grow with you. Yes, it is fast to start, but in the end, it will consume more of your time than it is worth.
White label
Like turnkey software, White Label bookie software promises to get your book running quickly. This software is designed for bookies who have no interest in the more technical aspects of a sportsbook or site management. They hang their hat on the idea that you will save the cost of hiring developers by paying for their service.
The catch is that the site you receive will be the same site that many others will be using with a few alterations. The developer is able to replicate the same platform and sell it to as many clients as they want. Thus, your pride-and-joy sportsbook will be far from unique unless you dig in and start customizing. Again, the cost of a quick start is pouring hours into your sportsbook on the back end.
Self-service
Self-service bookie software is for you expert coders and computer wizards out there. This is the DIY option that basically takes all of the pre-fab bookie software elements out of the picture. If you are going the self-service route – and hats off to you if you have that skill set – it is unlikely you need guides and how-tos.
The plus to this option is the low cost of running your sportsbook, at least in terms of actual cash, and customization that goes as far as your own capability can take you. The con is the time commitment. You are very much flying without a parachute with self-service, putting much more care and attention into your sportsbook. This is an expert-only type of choice, both from site management and a bookie standpoint.
Pay Per Head
Saving the best for last, Pay Per Head(PPH) takes many of the best aspects of the above options and shrugs off the downside.
Even the greenest of bookies can get their sportsbooks up and running quickly with PPH bookie software. It is designed for a simple startup and has the ability to grow with you. With PPH software, you can build a completely unique sportsbook that stands out without needing to know computer coding or having a deep knowledge of design.
Player management, line management, and general operations are easy to grasp even for a beginner.
The most important feature of PPH software is the cost of operating. A bookie is simply charged for the players who are active on their sportsbook. Not the players who are registered, but the players who are ACTIVE. If they do not play, you do not pay. This means a bookie’s costs scale up and down as their business activity increases and decreases. There is no reason to worry about a slow season because costs stay proportionate with the site’s activity.
How to start a PPH sportsbook
Getting started with Pay Per Head bookie software is an easy process if you choose the right company to work with of course.
After signing up, a bookie will receive their log-in credentials and instructions about how to get into the back end of their system. This is where all of the magic happens. The first thing to do is get players signed up and make those decisions we referred to in the ‘player management’ section such as betting limits. Then give the players something to wager on. Set the contests and lines to open the virtual door to your online sportsbook.
A bookie needs its players to be excited about where they are playing. Customize the look and feel of the sportsbook to make it appealing to the eye, easy to navigate, and intuitive for players to access the features they need, including their account information. There is nothing worse than being lost on a betting site, especially when it has your money. Make sure players feel safe and comfortable at all times.
Start with useful tools
After setting the stage for the sportsbook to start, it is time to use some of the most useful tools at your disposal, such as its built-in tools meant to help grow the business. This includes those reporting tools discussed above. Track your players’ betting trends and use that to inform how you adjust your lines. You can also use this information to create promotions that you know they will love, making the players happy and excited to play.
While we are talking about the possibility of growing the sportsbook and engaging players, take advantage of automated communication systems to email and text message players about special events, promotions, and upcoming big games. The sports calendar moves fast and your players are busy. A gentle reminder that a tournament, playoff, or primetime game is approaching is a great way to get them logging on and playing.
Put your knowledge to use with Power Pay Per Head
If you are going to start a sportsbook with cutting-edge bookie software, why not go with the best Pay Per Head sportsbook solution, Power Pay Per Head?
Power Pay Per Head includes all of the backbone features of great bookie software and more. Like the industry’s most powerful tool Beat The Line 2.0. This is the top-of-the-line sharp betting detector there is, putting you ahead of the sharps as you manage your lines. If one of your players is a sharp bettor, Beat The Line 2.0 will sniff that out. If there is a fast flow of money to one side of a bet, you will be on top of it.
Speaking of staying on top of your sportsbook, Agent Bet Ticker is always there to keep you updated on all of the action in real-time, no matter where you are.
Power Pay Per Head offers the widest range of sports, and online payment for all players including credit card and crypto payment, live betting, 24/7 customer service, security, and casino support.
The best bookie software is right at your fingertips, literally. You are here! Get started today with a FREE TRIAL and pay $0 for the next six weeks! Power Pay Per Head is the #1 bookie software solution in the world and getting better every day. Start your sportsbook off on the right foot and start earning real money today.
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— Power Pay Per Head (@powerpph) January 16, 2023
