If you have a passion for sports and like the idea of being able to make some extra money from home, you’ve probably considered setting up a sports betting website. With the right software, coaching, and some strategic planning, you can make a living online from a passion for sports.
Here’s how you can start your own betting website.
Pick A Niche
As the name would suggest, a betting website is where you make your money from wagers (aka bets) placed on sporting events. So it’s essential to choose a niche that you can build a business around, otherwise, you’ll just be running a website with no purpose.
What is a niche? Think of a niche as a ‘small market or segment’ within the general (sporting) betting market. For example, if you’re passionate about horse racing, you might want to set up a website dedicated to that niche. The niche markets are generally quite profitable as there are usually a lot of people interested in sports betting involving horses. If you can get around the legal conundrums (more on this later), you can make a living from this niche.
Choose A Suitable Domain Name
If you’re looking to create a brand for your website, you’ll want to consider the domain name you’ll use..com is the most popular choice among businesses, so if you want to make money online, you’ll likely want to opt for this extension.
Fortunately, you can get.com domains for free from companies such as Google Domains, so there’s no financial risk in this decision.
Set Up A Paypal Account
You’ll need a Paypal account to accept wagers from sports fans around the world. This is one of the critical steps to starting a betting website so ensure you have one before continuing.
Choose A Suitable Hosting Package
Once you have your domain name, you’ll need to find a suitable hosting package. Like with most businesses, there is a wide variety of hosting packages available to choose from, so you’ll need to consider your needs and the amount of funding you have available. In most cases, you’ll need to look for a shared hosting package as these are the most economical solutions when you’re just getting started. However, if you have the money, consider investing in a VPS (virtually private server) which is essentially a standalone computer that you could install any operating system you like on.
Installing WordPress is the standard way to launch a sports betting website. With WordPress, you’ll be able to build a robust website in no time at all. All you need to do is choose a theme for your site (which you can find ready-made or download for free from WordPress), add a couple of pages to the site (these can be based on your niche), and fill it with valuable content.
It’s important to find a reliable, affordable hosting company to go with. This is especially important if you’re just getting started as you don’t want to risk hosting costs with a company that might not provide the best service or go bankrupt. It’s also a good idea to look for a webmaster who can help you get the most out of your website.
Set Up Legal Affairs
Setting up legal affairs is a critical step to ensuring your business is run efficiently and ethically. There are a few different ways to do this, but in most cases you’ll need to consult with a lawyer to establish a legal entity for your business (a limited liability company or llc for short).
However, if you don’t want to incur large legal fees, you can still do this the DIY way and register your business name with the government as a ‘natural person’. This way, you’ll only need to deal with minor legal issues as you’ll be able to take advantage of all the structures and procedures offered by the government. For example, if you’re looking for a simple and affordable way to protect your website, you can opt for a.com.au address which will only require you to pay $AUA (Australian business registration fee) for the privilege.
Decide Whether To Accept US And International Players
If you’re looking to attract a global audience, you’ll need to decide whether to accept players from the US and international locations, and if so, how to do this. In most cases, you’ll need to set up separate accounts for players from different regions. This will also require you to get compliance approved by the US government and your bank.
Build A Following On Social Media
Building a following on social media is a great way to gain support for your website. This is especially important if you’re just getting started as you don’t want to plunge into major marketing costs until you have some momentum. Consider spending about $5 per day on paid social media posts to gain a steady stream of engaged users.
The money you spend on social media will be well worth it as you’ll be able to take advantage of all the platforms offered (including Instagram, Facebook, and YouTube).
Creating a profitable sports betting website doesn’t have to be hard. With a little bit of research, diligence, and some old-fashioned elbow grease, you can make a living from home running a small business. Just make sure you’re prepared to deal with the legalities surrounding online gambling as they vary from country to country.