Are you aware of what it takes to start and run a sportsbook like William Hill or BetMGM? It takes a lot.
From huge investments to licenses to operate in each state, employees, offices, to marketing, you would need huge capital and resources to run them. Moreover, these sportsbooks require IT technicians, high-end technology, partnership with payment methods, skills, knowledge, time, security, etc., to start operating.
If we were to list every requirement for launching and operating such a sportsbook, you would abandon your dream of running one. But, before you do, allow us to tell you about a white label sportsbook.
What is a White Label Sportsbook?
A white label is an out-of-the-box package containing everything you need to launch and operate a sportsbook. Usually, a third party provides a ready-to-go betting platform, casino, or racebook having all the sportsbook features, including payment methods, betting lines, call center, platform’s security, etc. The only obligation you are left with is marketing the betting site to find your clients.
While a white label sportsbook is ideal for anyone without huge capital, it has some limitations. For example, you as the operator have no control over customization, choosing payment methods, or trading strategy. It is like operating on a borrowed platform to make a profit.
The Advantages of a White Label Sportsbook
There are several advantages of white label sportsbooks, including:
- It takes a shorter time to launch and start taking betting action
- It gives the sportsbooks operator time to grow their side of the operations, including getting clients while the bookie provider is doing the rest.
- You use a fraction of the cost it would cost you to launch another type of sportsbook.
- You get customer support for you and your players
- Free remote maintenance of the sportsbook
Responsibilities of a White Label Bookie Operator
While it seems like your job is to find clients, you also gain some control over your business. Some of your responsibilities include:
- Marketing the sportsbook and acquiring new bettors
- Perform day-to-day bookmaking tasks such as managing player accounts and any other managerial task
- Paying your clients
- Adjusting betting lines
- Limiting bets
- Setting the maximum payout
The Provider’s Responsibilities
Meanwhile, the site providing you with the white label sportsbook has several responsibilities such as:
- Designing the sportsbook and branding it to meet your preferences
- Training you on how to operate the sportsbook
- Provide technical support in case of a hitch
- Hosting the sportsbook website
- Setting up the sports betting platform
- Overall maintenance
What to Expect from a White Label Betting Software
The product, services, or tools incorporated on a white label betting software may come from an in-house or third-party partner. For example, I can have a company that offers white label betting sites.
However, I have partnered with another company to support live betting action for my sportsbooks. Whichever the case, there are several things you can expect to find on your white label sportsbook.
- Variety of sports betting markets, odds, events
- A platform legally compliant with jurisdictions you will be offering your sports betting services.
- Ready to use payment methods including credit cards, e-wallets, and cryptocurrencies
- User-friendly front end betting platform
- Sturdy and useful back-office system to efficiently manage your bookie and players
- Customer support
Who Offers These Betting Platforms?
Running a white label sportsbook is increasingly becoming popular. Thus, you will find various sites offering white labels. One of the leading companies in the industry is the Power Pay Per Head site.
While its major focus is offering pay per head bookie software, the company is also doing well in the white label business model. If you are looking to offer sports betting on a global scale, consider talking with the brand for specific details.
How Much Does It Cost To Launch a White Label Betting Platform?
The cost of white label sportsbooks varies depending on what’s included in the package. For example, it would cost you more if you want a white label sports betting platform, casino, and racebook than it would for one platform.
However, you can trust you will spend much less than designing, launching, and operating a traditional sportsbook. The best thing you can do is talk to your service provider to get an accurate quote.
Do you think a white label sportsbook is ideal for you? If you are looking to launch a sportsbook at a low cost, fast, and stress-free, consider a white label. Contact Power Pay Per Head for more information.