It is not a surprising fact that professional bettors can turn a long-term profit. However, this task is easier said than done. But did you know that learning to beat the bookmakers is not the only way to make money in the world of betting? Bookmakers, like the Online Casino Deutschland, are the ones that make the most profits, which is why a lot of people from around the world are looking to create their own bookmaking services. However, there are many legal issues involved when it comes to starting your own bookmaking business, not to mention the impossible range of cost. Thankfully, there is another way to make money off sports betting – selling picks and online betting tips to others.
The overall profit margin here is quite significant and offers better chances for bettors to earn better profit margins, rather than only betting on games. For instance, if you can manage to find 100 bettors willing to shell out $100 each for picks, you can easily earn $10,000 per month. Or, you can even make the same amount by finding 1,000 people to buy picks for $10 each month. While the amount is not as lucrative as it is on online betting, you will have a real chance of making some money with lesser risk than betting on online games, if you know how to market your services.
How Do Online Sports Betting Picks Services Work?
Before getting into the whole shebang of starting your own sports betting picks services, we first need to answer the question: “How does online betting work.” Almost all these services charge a fee for their services. However, you might also find some of them that offer you free picks to try the services out; this, however, is an infrequent occurrence. There are two modes of payment – you can either pick-and-pay or subscribe for a more extensive pick set.
As the name suggests, you need to pay for each pick. This is considered the best way since you will have the chance to try the service out without investing a lot of money. In the unlikely event that you do not like the service, you will not lose a ton of cash. If you do not like a particular service, all you need to do is move along and find another one to test out.
You might also encounter an additional fee in the pick-and-pay mode if your online betting games pick is correct. If you have already paid for your pick, you might also have to give a percentage of the winning amount. It varies from one service to another. Ideally, the best choice would be to look for a tipping service that does not charge any winning fee.
Subscribing for a More Extensive Online Betting Pick Set
On the other hand, you also have the choice of subscribing and buying a broader package deal. In these cases, you will have to buy a season pass that will allow you to access all your picks for any particular sport for the entire season. The greatest benefit of this arrangement is that you will earn a decent profit if you are lucky. This type of wager is perfect for you if you want to place many wagers throughout the season.
How Do You Set up a Sports Online Betting Picks Service?
When you are setting up a betting picks service and online betting systems, there are some factors that you need to look into, like:
One of the first things you need to look into is the type of model you choose to sell your picks. The three main types include:
As the name suggests, you sell your picks according to the game. This can either be selling picks for a single game, by the week’s game or providing online betting offers on a series of games. The customers have the choice to pick the individual games, according to their preferences.
Your buyer will pay a set of online betting with PayPal fees weekly or monthly, which will offer them a fixed number of picks each term. If you are looking for ongoing income, this is the best model. Once someone signs up, you will have to just keep them happy for the money to keep flowing.
Similar to subscription, you can sell more than a single pick at one go. There will be a one-time fee for a package of picks with most online betting apps in most cases. This type of model is mostly seen in all MLB games for the day and NFL games. Of course, there are no compulsions in which model you choose – you can either choose one or a combination of all three.
All models are equally good; additionally, you can use all three to offer multiple options. The type of model you choose will depend on how you wish to run your business. It is suggested that you start with the more accessible model, an online betting calculator, and keep expanding.
The ability to pick winners will not earn you money; it is all about marketing. You need to market your services and gain willing and paying customers. Some ideas that can help you get started include:
Also known as PPC, pay-per-click ads are great as marketing strategies for online betting sites. Search sites like Yahoo and Google sell ads that pay when someone clicks on them. However, you must read the terms and conditions to ensure that they accept gambling ads.
It is no surprise that social media is one of the best marketing options available today. People spend a lot of time on these media platforms. However, the only concern here is the terms/conditions and costs. Additionally, while some outlets avoid gambling-related ads, others have a very competitive market.
Tons of sports bettors watch sporting events and news like ESPN on television. However, you can run across the same challenges as social media, since some television stations will not run ads related to gambling.
You must have your own website if you wish to sell your sports picks. However, creating a website is only the battle half-won; you will still need to direct customers to your website. Apart from the above, you must learn about the Internet and Google search basics, like SEO, SMO, etc.
The next part you need to think about is how you plan to deliver the products. Thanks to the technology available today, you will find some efficient options like:
One of the easiest and popular methods for most pick sellers is email. All you need to do is acquire the buyer’s email once they sign up and keep adding them to your list. Several email list programs will help you manage your list and send emails in bulk for free.
You can designate a specific area on your website where buyers need to log in with their credentials. Here, all you need to do is post your picks in this private area. For every user, the login and online betting account credentials will be different.
Perhaps the biggest decision that you will have to make here is the pricing of your online betting system and subscription, picks, and the packages. Ranging from a few dollars to a hundred dollars, the prices charged by different sellers tend to be very different. To an extent, the lesser you charge, the more people will come to try your services; however, this might not be 100% true.
Hence, it would help if you charged enough so that you can cover the amount that you have spent on advertisements to attract new customers. However, the prices should also not be so high that your buyers cannot afford your services. The pricing will also depend on your target audiences. If you are targeting high-end customers, you can quickly charge them about $500 per month.
If you are looking for opportunities to earn money from the online betting games business, starting your own pick service is a great way to start. With the help of this guide, you should be able to set up a decent service. Overall, it would help if you always looked for ways to market your products effectively. Like many things, getting the word out about your services needs to be your main priority, especially in the beginning. Look for ways so that your buyers can afford your services while maintaining a good profit margin as well.
We hope that you liked this article. If you have any queries about this topic, you can leave them in the comment section below. We would be happy to solve your queries. You can also tell us any other tips that you might have about starting your own sports betting picks service.