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Your Sportsbook Can Be More Than Just Sports Betting Software

November 17, 2020
Pay Per Head

If you know anything about bookmaking, you understand that running an online sportsbook is much more than just providing a place for your customers to wager on sports. Even though you know this, it’s often difficult to figure out how to make your sportsbook more than just a sportsbook.

Before going into detail on how you must create different revenue streams, it’s essential to understand that offering a place to bet on sports is the least that you can do. Even if all you want to do is run a sportsbook and not increase your player count, you can still provide services that most online sportsbooks and books in Vegas won’t do.

For example, let’s say a player wants to cancel a wager they made in your sportsbook. No online sportsbook will ever do that. Wagers are final. After games finish, players learn if they won or lost.

But if you run an individual sportsbook, you can do whatever you want, as long as the pay per head company you’ve signed up with allows it.

Betting on sports is your bread and butter

Before getting into the different revenue streams, don’t ever forget that offering free betting software to your sportsbook players is your bread and butter. Most of us wouldn’t have dreamed of starting a sportsbook if we didn’t know people who wagered on sports.

Some of us cater to football bettors or basketball bettors. Others of us may have clients that prefer to bet on baseball or even hockey. Our sports bettors are why we run a gambling website in the first place.

Sports wagering is the reason all pay per head organizations offer software which, at the minimum, allows players to bet on one of the three most popular sports in the U.S., football, basketball, and baseball.

For bookies that don’t wish to grow their sportsbook businesses, going with a low-cost leader pph sportsbook software company makes sense. But for those of us who want to gain clients, expand our books, and make as much money as we can, we must think of other revenue streams.

Offering a live dealer, digital casino, digital racebook, and a live betting platform increases profitability

There’s no way to sugarcoat the coronavirus pandemic. But if there was a silver lining, it’s that players didn’t stop gambling. Instead, they found other ways to get their wagering entertainment fix.

Per head companies reported a considerable increase in action on both digital casino and live dealer platforms. Live dealers, especially, saw a massive increase in playing time. By massive, we mean a number that increased some 80% in live dealer action from the same month range in 2019.

Most players logged onto live dealers to sit at a blackjack table, and it wasn’t even close. By one estimation, 90% of people played blackjack on both online casino platforms and live dealer platforms.

Craps, roulette, video poker, even slot machines made up the other 10% in digital casinos. For live dealer, roulette and baccarat made up the additional 10%, which are the only other two live dealer games available on most platforms.

At no time during the sports shutdown did every racetrack in the country close their doors. Gambling business owners saw an increased handle in horse racing betting as well. What’s even more positive? Searches for the word “racebook” increased to over three-thousand.

After the NBA and NHL returned, the salivating induced nature of casinos, live dealer casinos, and horse racing books didn’t cease. Again, your sportsbook will always be the most crucial aspect of your gambling operation. Still, nobody can deny that horse racing, live dealer, and other casino products are viable revenue streams.

Live wagering, or in-game betting, saw a massive uptick after the sports shutdowns. It’s seen an even more significant rise in action since the NFL started their season. The one thing that live betting, live dealer, casino wagering, and betting on horses have in common is that all of it happens in close to real-time.

When players wager on a sports event before the game, they must wait for 3 to 4 hours before knowing if they won or lost. That’s not true for horse racing, where the longest races last less than two minutes and thirty seconds, and the shortest race could last about a minute.

Your players want instant, gratifying entertainment. Why not give it to them by offering more than just sportsbook wagering? Offer a live dealer casino, horse betting, and casino betting. Also, make sure players know they can live bet on every game available through your pph provider. If you do those things, your bookie software business will soar.

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