It’s hard to deny that sports betting is popular. The bookmaking business has some advantages and opportunities. At the same time, a bookmaker company can serve as a source of finance for the state budget or charitable organizations.
You can hold sports business officially: with licenses, taxes, and reports. Or you can do it in shadow format. But since we are for honesty and law-abidingness, we will tell you how how to open a bookmaker legally.
Companies that provide opportunities for sports betting both online and offline are called bookmakers. Such activity belongs to the field of gambling entertainment. But still, it has a less controversial status than, say, an online casino. There are two types of offline and online betting bookmakers:
In fact, leading such a business on your own is a hard option and not for everyone accessible. It’s because of legal nuances, and high costs for licenses, guarantees, and capital.
Therefore, many choose an alternative option — partnership with other offices. Which is much more affordable and at the same time does not deprive you of assets and profit.
A bookmaker or company is an entertainment-type establishment where visitors place bets on sports or on entertainment events.
Although each country in the post-Soviet space has its own laws, there are common features between them in terms of opportunities to open an online sports betting office. So, a potential bookie business owner has two options:
If you want to open your own bookmaker company in Ukraine, you have to know that according to legal rules, bookmakers can work under the terms of a lottery business license.
In any case, opening such a case requires careful preparation, including what is needed to open a bookmaker online and offline:
And it is also impossible to build a successful betting business without entrepreneurial skills, at least at a basic level.
If you intend to open a bookmaker office for online betting, you will have to prepare for considerable expenses. Moreover, everything must be taken into account: paperwork, premises, and arrangements. Approximately all of this will cost the following:
And don't forget about advertising expenses, which will be $ 300 every month.
Income, in turn, will depend on your entrepreneurial skills, luck, competent marketing strategy, etc. On average, every 50 customers can bring you $ 2000. Thus, your business will pay off in about a year and a half.
Don’t forget that you need to take care of the license, before running an online bookmaker site or offline office. Obtaining a license also has some difficulties, due to a number of requirements:
As some points are quite complicated (especially the first two ones), some bookmaker business owners prefer sports betting franchises.
From the point of view of the law, a bookie business is regulated by the same principles, it does no matter whether it is an online bookmaker or an offline one. In fact, you can have your offline betting points and website at the same time. You just have to have a UA domain for the website for legal conditions.
Opening a branch of a betting company also has certain requirements for the owner.
First, you need to find a suitable room and agree on a lease. At the same time, it is not necessary to rent expensive premises. A space of 15-20 square meters will be quite enough, the rent of which will be approximately $ 200. It is better to pay attention to such types of premises as:
Take into account that you cannot open bookmaker offices in religious, educational, medical, or cultural buildings.
Secondly, you need to take care of the equipment of the hall, namely:
On average, it can cost you $1200–1400+ software costs.
And, of course, thirdly, the appropriate staff is needed for the full-fledged operation of the office. As a rule, it should be:
Moreover, the success of your business depends on a competent analyst. Sports analysts are specialists who know sports and build the sports line that every bookmaker should have.
Of course, such specialists’ services are not cheap, but there is no average market salary for them, so you can discuss this issue with a worker individually.
A franchise is the best option for an entrepreneur who wants to start his business with proven options. The purpose of a franchise is to reduce business risks. Thus, you already have a ready-made model and unique selling proposition. What's more, you get advice and support from brand representatives, as they are also interested in your success.
In the case of an online sports betting bookmaker, this is the best option to start your business. Especially, if you don’t have the resources to open your own office, have a headache with taxes, obtain a license, build a business model, etc. You just need to conclude an agreement with the licensee and fulfill certain requirements:
You may also need to provide the data of future employees of the bookmaker office.
So, opening your own bookmaker is really easier than it might seem. At the very least, you can take advantage of a franchise if you are unable to purchase a license and deal with tax matters on your own.