Interested in running an online racebook and want to know how much it’ll cost?
Horse racing is one of the lone sports that’s popular around the entire world. Sure, some countries don’t have the horse racing scene that the UK, USA or Australia have, but the sport is popular.
What’s great about being a horse bookie is that there are races basically around the world.
You have major horse races everyday, which is ideal for a bookie.
There are bookies with mostly guys betting on the NFL and they only operate during the season. As a racebook owner, you’ll be able to make money 365 days of the year.
How Much Does it Cost to Start a Racebook?
The cost to start a racebook is very inexpensive. You want to join a pay per head (PPH) service, as they provide nearly everything you need. The only thing you’ll handle on your own is banking.
The best PPH sites charge $10/head, which means you’ll pay $10 per player every week.
Unfortunately, there are no standalone online racebook solutions. PPH services package racebooks into their product and there’s no way to only pay for the online racebook capabilities.
Still, at just $10 per player every week, the racing horse price is affordable for anyone to get started.
Online Racebook Features to Watch Out For
The racebook is an afterthought at most PPH services. You want to join a PPH that has developed their racebook product or else you’ll be unable to compete with the rest of the competition.
Here are the most important features to look for when seeking out a racebook software provider:
Track Selection: The more tracks the better. A lot of US-focused PPH services will only have US tracks available in the racebook. That’s not going to cut it for most horse bettors.
To give you a bit of insight, I’m a Canadian, but I easily have the most turnover betting UK racing.
You need to have tracks from the US, Canada, UK, Australia and Hong Kong preferably. At the very least, your racebook software provider should have tracks from most of these countries.
Bet Types: You’re not going to be able to offer all of the same wagers as off track betting (OTB) services at the tracks, but you’ll be able to have some exotic bet types.
Make sure your racebook allows punters to bet on exacts, trifectas and other exotics.
Ability to Customize Limits: Before you even start accepting bets, you need to make sure you have set strict limits on how much players can wager and how much they can win.
Always have a maximum win limit for every bet type in your online racebook.
This is a common practice at online racebooks. Make sure it’s never possible for a player to win more than you can payout. That’s a fast way to find yourself out of business.
The cost to start a racebook is cheap. Let’s say you’re starting with five players, it’ll only cost you $50/week. Plus, your players will be able to bet in the sportsbook and casino as well.