The most common I’m asked is whether or not it’s legal to be a bookie.
That’s a tough question to answer, as it depends on where you reside. The laws vary by country and you’ll need to talk with a lawyer in your country to find out whether or not it’s legal to run a bookie.
In the USA, sports betting is being legalized at the state level. For example, it has been legal to bet on sports in New Jersey since 2018, but operating a legal bookie in the state is another matter.
To operate an online sportsbook in New Jersey legally, you need to operate a land-based venue in the state as well, which means it’s not feasible to be a legal bookie in NJ unless you’re a millionaire.
Across the pond in the UK, sports betting has been legal for a long time. However, in order to run a legal bookie you need to receive an operating license from the UK Gambling Commission.
There are considerable fees to become licensed and then you’ll be taxed heavily. With the margins slimming seemingly every year, operating a legal bookie in the UK is tough financially.
In some countries, such as Costa Rica, it’s possible to operate an offshore sportsbook legally.
The best way to start a sportsbook is to move to a country where it’s legal without the requirement of needing to be licensed in the country. It’s less expensive and a simpler process.
To operate a sportsbook in a legal country you’re going to want to join a pay-per-head (PPH) site.
Make sure to visit RealBookies’s Youtube Channel to get more info.
Launching a Legal Online Sportsbook
If you’ve decided to become a legal bookie you’ve entered a competitive industry where there’s a lot of money moving around and you should ensure you partner with a reputable PPH service.
Here are some tips to help you with launching a legal online sportsbook.
- Talk With a Lawyer: Regardless of what you read online, speak with a lawyer in your country of residence to learn exactly what the legal requirements are when starting a bookie.
- Research PPH Services: You need to choose a PPH service that is feature rich, offers great customer service and has a solid reputation over many years of operating.
- Financially Stable: You need to have your finances in order prior to launching a bookie. Not only will there be some fees for launching a legal bookie where you reside, but you need to have money to payout your clients when they win and for a marketing budget.
Starting a legal sportsbook is a big undertaking, but once you’re operating you won’t have to worry about any problems legally, which means you won’t have the stress of a bookie operating illegally.
However, in some countries it’s simply not possible or financially feasible for the majority of people to launch a sportsbook and in those cases you’ll have to operate offshore under the radar.
Owning a sportsbook can be financially rewarding and you can work on your own schedule.
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