Legal Sports Betting in the US Market is Changing the Game
The sports betting market is becoming more regulated in many countries. There are some pros and cons to regulation as an offshore bookmaker and you need to be prepared for what’s coming.
There was a time when you could only bet on sports in Nevada. That has changed in the last couple years and it likely won’t be long before the majority of states legalize online sports betting.
There are now a dozen states in the US with legal sports betting. Since 2018, there has been more than $20 billion wagered legally in the twelve states and those numbers are growing fast.
With legal sportsbooks launching at a rapid pace, there’s increased competition. That’s one of the cons for offshore bookmakers, but the future of bookies is still bright.
Competing in Sports Betting Regulated Markets
I can’t see regulation slowing down anywhere. Governments around the world need money more now than ever before, so I expect to see more countries move to a legalized sports betting industry.
Pay per head sites are going to need to compete with big businesses for a share of the pie, but there are some edges that PPH bookies have and we’re going to look at some of the major ones now.
- Lower Overhead: Now is the time to keep costs low as a bookie. You don’t need office space or employees whereas the big sportsbooks have huge overhead costs.
- Types of Bets: PPH bookies are able to be more flexible with the markets they offer. In order to compete, you’re going to need more betting markets than the legal bookmakers.
- Rewards: Since your costs are lower as a pay per head bookie, you can use some of those savings to reward your loyal players. One example would be offering bonuses on every deposit, which isn’t something that the big books are offering and will help you stand out from the crowd.
- Level of Service: The big bookies have 1000s of active clients and it’s impossible to build up relationships with the majority of their clients. As a PPH bookie you can gain an edge over the regulated bookmakers by providing a level of service they’re not able to provide.
Sports Betting in Legal Markets will be Tough to Grow
Growing an online sportsbook in the future is going to continue to be more difficult. You’re going to be competing against the big companies that offer legal sports betting.
One way to build up your player base is to offer slightly better odds than your competitors. You’re not going to be able to offer a better price than every bookie, but by deviating from the standard $.20 line, you’ll be able to stand out from most competitors and bring in bettors. Check A1pph.com for premium lines.
You also need to be smarter about spending your marketing budget now. Advertising rates are up already and they’ll continue growing for a while due to more people looking to bet.
The good news? A lot of sports bettors don’t care where they bet as long as they get paid quickly and don’t have to jump through hoops. There’s still plenty of money to be made as a PPH bookie.