When it comes to payment channels for your bookie business, you can explore many options. As you will be managing your transactions yourself as a pay per head bookie, you can offer any channel available and convenient to you. Many offer bank transfers, credit cards, money forwarding sites, and the like. But the latest trend is cryptocurrency. More and more sportsbooks are starting to accept cryptocurrency, so we want to talk to you about using this in your sportsbook operation.
Many bettors prefer using cryptocurrency as their payment method. Some simply prefer to use it as they have more, or they want to maintain their privacy. Remember that cryptocurrency helps protect your identity and privacy, so many will want to use this for gambling.
Your Bookie Business and Cryptocurrency
Managing the wagers of your players is not a problem thanks to the premium pay per head that you use. You, however, are responsible for transferring out payouts, and for collecting deposits. So if you are familiar with cryptocurrency, then this will be easier for you. If you are not, its time you learn about the various currencies available, and which ones you will be accepting.
Remember that these are currencies, and their values change at any time. So if you do not trade and are unfamiliar, or simply not interested, then just convert your crypto to cash after taking in payments. But remember that your players may opt for Cryptocurrency payouts as well, so be ready for that as well.
Things to Remember
Your payment channels will not affect the cost of a bookie PPH sportsbook. They may, however, collect fees. In Cryptocurrency, trading can change the value of your money, so this will be something that you should be keeping track of as well.
While it seems to be more work on your end, it can also equate to more profits. So if you are still on the fence on whether you want to add this to your current payment options, then weigh the pros and cons well before deciding.