Starting a pay per head bookie business means that you want to become your own boss and obtain good revenues.
And, since money is at the core of your sportsbook operation, it is important to understand why cash is king, and what the other top payment methods that should consider integrating to your business are.
Pay per Head Bookie: Treating Cash as King
Those who decide to start a home-based pay per head bookie company are aware of the fact that the revenue they will obtain is going to be used both to pay for business and personal expenses.
And, since you are running a bookmaking operation, it is likely that you prefer cash over other payment methods, and the reason is because is 100% liquid.
Once you are paid in cash, you can do whatever you want with those funds, and what’s most important, you can be sure that, unlike a check, cash is not going to bounce, and you won’t have to wait for a given period of time until the check clears and the actual funds become available to you.
Checks and Online Payments
If there is no other option, then you can take a check, but make sure that the person that is giving you the check is someone reliable, and someone who has been part of your sports betting portfolio for a while.
This is because you don’t want to get a check from a new client only to find out later on that the check had no funds to back it up.
Alternatively, you can opt for getting paid by your clients using an online service such as PayPal.
Actually online payments are better than checks because once you have received a transfer from someone, you know for a fact that that money is already yours, despite the fact that it will take a few days until you are able to convert your PayPal funds into actual cash.
So, between checks and online payments, the latter is definitely more recommended.
To get paid for your pay per head bookie services beforehand is certainly the best option, but you can also opt for offering credit to your players.
With that said, you need to make sure that you are going to offer credit only to established players who you’ve known for a while and who have a good payment history.
It is important to recall that offering credit doesn’t just mean to put funds into someone’s account to then be paid in a month period, as it can also mean to put funds into the account of a trustful player that is just not able to fund it himself right away, but that promised to pay the following day.
Offering credit to the clients of your pay per head bookie business is really a personal matter, so it is up to you to decide who gets it, and who doesn’t.