Horse Racing Prices are the Same as Bookmaking at Pay Per Head’s
Looking to start an online racebook and need some guidance? Horse racing runs year-round and operating a racebook can therefore be beneficial to bookies. If you’re already running a sportsbook, chances are you already have access to racebook software.
The majority of pay per head
(PPH) companies include racebook software for free.
If you only want to operate a racebook, that’s possible as well through pay per head providers. You’ll still pay the per head fee, which is a weekly fee you’ll pay for every active player.
An active player is defined as anyone that places at least one wager during the week.
PPH Racebook Costs
How much does it cost to start an online racebook?
- Racebook Software: The average cost of a PPH service is $10/head. You can lower that racing horse price based on volume (weekly active players).
Joining a PPH to run your online racebook offers many other perks as well.
For instance, you’ll be able to offer horse racing odds from tracks around the world. The best PPH horse betting services will allow bookies to offer odds on 80+ horse racing tracks.
PPH services also grade all of the bets, handle all of the odds and provide player support.
- Reserve Funds: When you launch a racebook, you need to have a reserve fund set aside for paying out winners in case you end up losing some weeks to your players.
With horse racing, most weeks will end up being profitable for the bookie, as horse handicappers have a low win percentage. However, when players do win on horse racing, the payouts can be big.
Tips for Starting an Online Racebook
Follow these tips to ensure you get out to the best start possible when launching a racebook:
- Setting Limits: The first thing you need to do before accepting any bets is to make sure that you have set credit limits, betting limits and win limits for the racebook.
With horse racing horse price, it’s important to have a maximum win limit. Since it’s possible to hit bets that can pay five- or six-figures with some luck, you need to limit your upside risk with win limits.
Setting these limits can be done in minutes using the admin panel of a PPH service.
- Rebates: In order to compete with other online racebooks, you’re going to need to offer your players a rebate on win/place/show bets. Without one, you won’t attract serious players.
Most horse bettors are big losers long-term, but in order to attract active horse players that’ll place bets weekly, you’re going to need to offer rebates like the majority of offshore racebooks.
- Start Small: You don’t need to offer every single bet type when you start out. For one, if one of your players wins a superfecta, you may not have the bankroll to pay them out.
Through the PPH admin panel, bookies can choose which bet types they want to offer odds on. You can also choose to restrict certain tracks from being offered at your online racebook.