A Beginner’s Guide to Bitcoin Bookie Software
Basically, everyone knows what Bitcoin is, but it’s shrouded in mystery for lots of people. You probably don’t know that the Bitcoin Zebra is its official mascot or that the creator of this cryptocurrency vanished without a trace.
More to the point, you likely don’t know why the best pay per head sites operate with Bitcoin.
Read on to learn the ins and outs of crypto gambling so that you can have a more engaging and secure sportsbook.
How Do the Best Pay Per Head Sites Work?
Pay-per-head (PPH) sites work to save budding and experienced bookies money. When you think of a fully managed platform subscription, you likely think of paying a flat fee every month to use the service.
This makes sense in some industries like eCommerce, but it’s ridiculous in the sports betting market. The same $1000 per month that makes total sense around Super Bowl Sunday is a laughable sum during the off-season. Some months, you’re going to be shelling more than you’re reeling in, which can be a huge hit to your wallet and your sportsbook.
PPH payment methods work to solve this serious issue. You don’t pay the same flat fee every month. Instead, you only pay for the bettors that are active with you right now.
Most online PPH providers charge between $3-$10 per head. At Bookie.Software, though, we only charge $1/person in some cases.
You’ll always be flexible and scalable. You won’t ever be putting out more than you’re making.
But why is Bitcoin ideal for the best pay per head sites? There are generally 3 reasons: security, privacy, and expansion.
Bitcoin Enhances Security
PPH betting sites sometimes have the ability to take multiple payment methods. Unfortunately, though, US dollars don’t offer the same peace of mind as Bitcoin can.
Generally speaking, security is the most common reason that people prefer Bitcoin sports betting. Traditional payment methods keep your player’s credit card numbers and bank account info on the site. This means that a third-party breach can lead to a lot of trouble with stolen financial information.
With Bitcoin, though, transactions aren’t traceable to a bank account or even an IP address. If there’s a breach, there isn’t going to be anything on your network for the user to steal.
Bitcoin Betting Is Private
Security’s far from the only reason that bookies and gamblers like Bitcoin, though. Anonymity is another one.
Gambling is a sensitive subject, and people like to stay private when placing bets. When you offer Bitcoin payment methods, your players won’t need to put any personal information online. This doesn’t just make them feel safe – it also preserves their privacy so they don’t feel ashamed or embarrassed to place big bets.
You’ll stand out from the competition as valuing player privacy. People will also be more comfortable placing bets with you.
International Expansion Is Easy
Like any business, it’s a good idea to expand your bookie business to other countries.
You’ll get an in with new markets. You can sign on more bettors and generate more buzz. Since different countries prefer different sports and events, you’ll also be able to offer more successful events like soccer, rugby, and cricket.
But this can be tough with a sports betting business. If you use traditional currency, people will need to convert their fiat currency into a type of money that you take. This can mean hefty exchange fees.
People won’t want to pay unnecessary exchange fees. They’re unlikely to place bets with your sportsbook at all, which puts a huge barrier between you and foreign bettors. Even if they do place bets, they’re going to put less money down since they’ll have already spent some cash on conversions.
Bitcoin is an international currency. No one ever needs to exchange it for a different type of money because of its global nature.
This is also good for you as an agent. A Bitcoin bookie doesn’t need to pay international transaction fees. You’ll save money as well as your players so that you can stay ahead of your business plan.
Should This Be Your Only Payment Method?
Many sportsbook sites will espouse the praises of diverse payment methods. They’ll say that Bitcoin is just one of the payment options you should offer. This sounds good at first brush – after all, people like choice – but it actually can cause you a lot of problems.
On the most basic level, it’s disorganized and messy for a bookie to deal with. You’ll need to exchange your Bitcoin for fiat currency, but that won’t account for all your bets. You’ll need to pay exchange fees to change everything from a foreign source into USD, too.
But on a more important level, offering other payment methods in addition to crypto sports betting is bad for your security.
The point of offering Bitcoin payment options is to keep sensitive information off your network. If you let people upload financial information to store on your platform, you’re negating one of the best reasons to use crypto. A breach can still lead to lost information, and this is a problem even if some users minimize the damage by using Bitcoin.
It’s safer to just offer the single Bitcoin payment method.
Plus, Bitcoin is more convenient for gamblers everywhere. All they need to do is link a Bitcoin eWallet to your pay per head sportsbook application and start hedging their bets. It’s quick and easy, and Bitcoin is really accessible from online exchanges or even kiosks at grocery stores and gas stations.
The world is shifting, and it’s important that bookies and bettors shift with it.
Set Up a Sportsbook ASAP
While securing your gambling platform can be tricky, crypto gambling is a way to keep both you and your players safe. Now that you know how to offer Bitcoin betting with the best pay per head sites, it’s time to work with a partner who will set you up for success.