Will Covid-19 Change Bookies Business Model Forever?
Online sports betting is only going to continue to grow for most bookies. Most millennials grew up online and that’s even more true for Generation Z. The sports betting culture has changed for the better.
You can see it happening in countries around the world, including the United States. Quite a few US states have already legalized online sports betting and more are following. Regulation isn’t terrible for pay-per-head bookies, but it means you need to run a tight operation.
With increased competition, you need to give your players a reason to bet with you. There are a lot of reasons sports bettors like private bookies. We’re going to discuss some of those reasons in this article, as they’ll ensure you’re ready to compete with the next generation of online bookies.
With online sports betting growing tremendously, the future of bookies is bright. However, you need to stand out from the rest of the competition or else your business will get swallowed up.
A lot of sports bettors stick with private bookies for multiple reasons, here are some of those:
● Relationships: A small private bookie can provide individual support to each player as well as build relationships with their clientele. There’s a certain trust factor between a private bookie and their clients that a big brand bookie simply can’t replicate.
● Less Regulation: A lot of sports bettors don’t like all of the private information (KYC rules) that a bookie needs before you can be paid. As a private bookie you want to know your customers ideally and if you do, then there’s no need to store all of their information.
● Bigger Rewards: It’s going to be tough to survive as a private bookie in this climate without giving back to your player base through bonuses and promotions. The good thing is that your overhead costs are so much lower than the big bookies, so you can afford it.
If you have seen other pay per head bookies, you’ve likely noticed they have nice bonuses. In many cases, PPH bookies like Reabookie will offer some sort of bonus on every deposit. While you need to be smart with promotions and ensure you don’t put yourself in the hole, they’re a necessary part of this business.
PPH bookies are always in a good position, though. It’s because of the low overhead costs and zero risk. The big regulated bookmakers that are opening in many countries have huge overhead costs, so they’re unable to have the same flexibility that a private bookie has.
Launch a PPH Sportsbook Bookies Business
Are you interested in launching your own private sportsbook? You need to join a pay per head shop and we recommend PayPerHead247. It’s the most modern PPH provider in the industry. They have the tools you need to take your business into the future without any concerns.
There may be some more competition in many markets around the world, but that’s because the online sports betting industry is so lucrative. You don’t need a lot of players to make good money as a bookie. Even a handful of friends could earn you a nice side income while you learn the ropes.
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