How do I Start My Own Sportsbook Business Legally? Can it be an LLC?

Submitted by Aaron Goldstein on

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Aaron Goldstein

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How do I Start My Own Sportsbook Business Legally? Can it be an LLC?

While it is true that you can, in theory, operate your sportsbook business as an LLC using the right betting software, you will need to pay all your taxes and maintain proper records. It's probably also wise not to file your company name as "Joe's Bookmaking Business".

What is an LLC?  It's a Limited Liability Company.

More specifically, the LLC protects the personal assets of its member or members by limiting their personal liability to the amount they invest in the business.  Income derived from the business is passed through to the owners and they then report this income on their personal returns. 

LLCs are created by state statute, and each state may have different regulations.

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Bookmaking businesses operating without a government license should run like a sports handicapping service.  After all, there are now handicapping companies entering white label partnerships with sportsbook firms operating directly in the United States.  This is a similar concept to that of the Pay Per Head.

A Pay Per Head charges X amount per active customer per week, for as low as $3 at AcePerHead.com.

You get your own customized website for players to access.  Additionally, it is recommended to have a master website featuring sports betting news and stats.  This does not have to be provided by the PPH company, though they can likely assist in the development.

The Pay Per Head handles all other aspects of your bookmaking business including customer service, oddsmaking, report generation, live in-play wagering as well as providing a live dealer casino and horse racing platform in some cases.

Steps to become a bookie

  •     Learn about the business from blogs and experienced people
  •     Find players
  •     Partner with another bookie so that you both win
  •     Get a great Pay Per Head Bookie Software
  •     Start running and managing your business

What you get

  • Easy to use player management system
  • Set player limits and access
  • Create and Edit your players
  • Control your players betting options
  • Daily, Weekly and Monthly Player figures
  • Intuitive and reliable reports
  • And much more

What your players get

  • sports betting
  • Live Betting
  • Player Prop Bet Generator
  • horse racing
  • digital casino
  • live casino
  • 24/7 customer support from English speaking reps

The Bottom Line in Bookmaking Business

From AcePerHead.com:

"Understanding that the customer who wagers only $100 a game will lose $3,000 to $4,000 over the course of any given season should give you plenty of incentive to hit the bricks. If you use your time wisely, reaching a customer base of 200 or so (a little better than average) should be no problem."

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