Starting your own business is an exciting time, but what should you do?
There are thousands of business ideas, but there are certain factors you should strongly consider when you’re thinking about starting any business to ensure you select the best niche.
The factors everyone should consider when choosing a business niche are as follows:
● Passionate: You need to be passionate about the business or else you’re going to struggle to get things moving. If you’re passionate about sports, being a bookie is a great career.
● Profitability: Prior to starting any business, you need to perform some analysis to make sure the business has a clear path to profitability. Sports betting is a booming industry.
If you’re passionate about something and there’s a path to profitability, give the business a try.
The worst thing that can happen if things don’t work out and you close down the business. One of the benefits of starting your own bookie business is that the initial investment is extremely low.
Costs of Starting a Bookie Business
There really aren’t that many costs when starting a sportsbook using a pay per head (PPH).
For those unaware, a PPH is a turnkey solution allowing anyone to start an offshore sportsbook. The cost of using these services is low and in many cases you won’t spend a penny to start.
Here are the costs you need to budget for as a bookie:
● Pay Per Head Service: A PPH service will cost on average $10/head. What this means is that you’ll pay $10/week for every player as long as that player makes at least one bet.
Make sure you take advantage of the free trial promotions offered by PPH services. PayPerHead247 has a four-week free trial, so you won’t need any money upfront to start your own business.
You can start your online sportsbook for just a small weekly fee per player.
● Bankroll: You should always maintain a cash bankroll in case you need to payout winners. Some weeks are going to be unprofitable and that may happen early on.
You never know when your players are going to win. They may not win early on and you’ll be able to build up a bankroll with your profits from your players losing. That’s one of the great things about starting a sportsbook. Money can start coming in on the very first day you launch.
Sports Betting Is Booming
Now is a great time to start an online sportsbook, as sports betting is booming.
Sports betting is becoming legal in countries all around the world, including in the US. Millions of new sports bettors are looking for a trustworthy bookie to take their action.
This business has a low barrier to entry and doesn’t take much money to get started.
When you partner with a pay per head service, you can get started quickly. They have the software and expertise. All you need to have are some players looking to start betting.
You could be making six-figures annually within your first year. The sky's the limit.
More information at: start your online sportsbook for just a small weekly fee per player
