In our bookie pay per head blog, we always feature the things that you need to know or have to be able to be a bookie. We also guide you with the software that you will need to manage an online sportsbook. And with that, our readers do ask this question a lot. So to spare you from having to spend the time asking or researching, we will talk about how much you should spend on a bookie software.
Technically, there really is no price ceiling or price floor on what you want to use. After all, the value of the price of an item or service is relative to the person spending. A very rich person will think that $10,000 a month is affordable, while an average-earning person might balk at that amount.
What we are after here, is a reasonable price and business expense that makes it easier for you to get a return on your investment. In addition, you also want to get the best quality at the most affordable cost. This is where a pay per head software comes in. The sports betting software specifically created for bookies is charged at a reasonable per head fee. That means you get to own and manage a full service online sportsbook without having to spend thousands of dollars.
How Much Should You Spend on Bookie Software?
The short answer to this question, is you can spend whatever you can afford to. But just because you can, it does not mean you should. For bookie software, pay per head providers offer a range of prices from $1 to $20 per player each week. Majority of the best ones we have seen are in the $5-$10 average.
Price is also not a sole factor in choosing bookie software. A $20 per player provider can actually offer less than a $5 pay per head provider has. So, it boils down to the value for money that you can get from the software. What you can do, is anticipate how many players you have, and divide that with the amount you are willing to spend for operations. That is the maximum cost you have per player.
Assuming the amount is $8 per person. You can then start looking for providers that can offer you the most features at the price range. You may also want to set the cost a bit lower, since you may need to spend on other expenses. For instance, some online marketing techniques for sportsbooks can require you to spend money.
So while there is no set amount on how much, you can easily set a ceiling yourself, and stick to that budget. Remember to look at what you can get for the price, and make sure you get to maximize every dollar that you will spend to open your very own sportsbook.