Although some online sports bookies have an unfounded reputation of being shady, it’s as legitimate as any other service-based job. Waiters take orders. Bookmakers accept wagers. Most of the time the bookmaker’s goal on any given sporting event is to make money from the service charge they apply to every wager.
Called the juice or vig, the service charge is 10% of every dollar bet for or against the spread. If a bettor, called a player, makes a $100 dollar bet on one team to cover the spread, to win or not lose by a certain number of points, the service charge fee is $10. This service charge fee ends up becoming residual income, month to month, week to week, day to day even, to the online sports bookie. Before getting into why that is, it’s important to understand the definition of residual income.
What is residual income?
Per Investopedia, residual income is the “amount of income an individual has after all personal debts and expenses, including a mortgage, have been paid”. Pretty much, residual income is the money left over after you’ve paid all your debts. It’s the money that you can either save or spend every month. The sports betting industry is tailor-made for people to make residual income. The key for online sports bookies to make residual income is offshore bookie software.
Why is offshore bookie software important?
The reason bookmaking got such a bad reputation is because it used to be a service that wasn’t out in the open. Bets were made via phone calls, or in person. Bookies wrote down each individual wager. Debts were settled on a predetermined schedule while all debts were paid off in person.
That’s not the way it works anymore. Offshore bookie software allows bookmakers to run their businesses from anywhere in the world. Not only that, but offshore bookie software is so advanced that it can help a bookie organize his or her company in the matter of minutes. The best way for a bookmaker to apply offshore bookie software to his or her company is by signing with a pay per head company.
How do online sports bookies use offshore bookie software to create residual income? If residual income is what’s left over after all debts are paid, there are few jobs where residual income can be created more consistently than by being an online sports bookie. See below for five reasons why.
1. Monthly pay per head fees are known in advance – Once a bookie signs with a per head company, that bookie will know what he or she needs to pay each month.
2. Monthly pay per head fees rarely go up – Most pay per head companies never raise their monthly fees.
3. Online sports bookies have no overhead – The offshore bookie software is the pay per head company’s. They maintain the system.
4. Online sports bookies don’t spend much time on the day to day – Offshore bookie software makes it easy for bookies to access reports, check on bets, delete bets, or do anything else they need to do quickly.
5. Online sports bookies’ customers need no hand holding – Offshore bookie software allows players to make wagers when they wish. A bookmaker doesn’t have to accept phone calls, emails, or text messages to accept wagers.
It’s easy for online sports bookies to build residual income because the 10% is automatic on ATS bets, monthly bills never go up, and maintaining offshore bookie software is the responsibility of per head companies. Doesn’t that make you want to become an online sports bookie?
