With the explosion of legalized sports betting in the United States, bettors are increasingly looking for wagering guidance. For talented at predicting the outcome of games, an opportunity exists to profit from that skill.
Finding and perfecting the right analytical approach in sports betting that produces consistent results can attract subscribers that will pay for useful information. It doesn’t require perfection, just a winning percentage of somewhere north of 65%.
Develop a Method
The first step is to develop an analytic method that, along with other knowledge, provides consistently accurate predictions. Examples include statistical analysis of team performance, historical wins, losses, or significant differences in teams’ statistics.
Create a Track Record
Whatever the method, it needs to be used and shown to be effective over time. Demonstrable results are the key to getting others to buy into success without developing their process. All of the work and effort need to be effective enough that people are willing to pay for knowledge.
Brand
Turning positive results into a business begins with creating a brand that people will gravitate to. A brand associated with success can influence bettors to relate their experience to success. Developing or and choosing the right brand name can make a difference between success and failure.
The brand should be immediately recognizable among those wagering on sports, creating a buzz in the industry. Trademarking the brand is highly recommended and will further legitimize the business endeavor. It will also make it more difficult for someone else to capitalize on the method’s success and the business.
Website
As obvious as it may be, it’s important to grab the rights to the domain name associated with the brand. If the domain name isn’t available, it’s probably worth the effort to find a brand for which the domain is available.
The brand, the domain, and all subsequent activity needs to be coordinated to create synergies that drive potential subscribers to the business. The website needs to be carefully crafted and professionally designed.
If bettors are going to trust their money to the advice of someone they don’t know, at least they need to have confidence in the delivery mechanism. That mechanism is the domain and the way it’s designed, managed, and maintained.
Starting a business endeavor from scratch takes a lot of hard work, but it also takes money to make it credible. It’s important, even critical, to make sure that there’s funding available for the maintenance of the website.
Social Media
When starting a business, it’s critical to get the word out to the gaming industry that it exists. Influential leaders of the sports betting world are active on social media, especially LinkedIn. Thousands of casino and sports betting executives employees have LinkedIn accounts.
Making as many contacts as possible and using those relationships can be very helpful in getting a business off the ground. With the growth of the sports betting industry, being on the leading edge of providing reliable wagering information is a very valuable asset.
As with any business, developing and maintaining relationships, even in this era of virtual communication, is critical to success. Despite all of the advances in technology, people are still extremely important, especially when they are relying on a business to make them money.
Establishing a credible and professional presence on social media, especially in the sports betting prediction world, can make a huge difference in the success of a sportsbook business. It’s a great way to be able to quickly, succinctly and professionally let potential subscribers know how successful the business is at predicting sports outcomes.
Marketing
With the explosion of sports betting, marketing and advertising opportunities abound. It’s important to budget for this very important activity. Depending on the various state laws, the best places to advertise or market the prediction services are where bettors go, whether that’s physically or virtually.
In essence, the domain and social media presence are marketing, but advertising and promotion are more traditional marketing activities. Offering free picks, a pick of the week or a money-back guaranteed lock are all ways to attract attention to the service.
Building relationships with sports betting sites and making them aware of the business is a great way to attract attention. Anyone that subscribes to or pays for the service has to place their bets either online or at a physical sportsbook. Those establishments, depending on local or state regulations, are great places with which to have relationships.
Sports Predictions: A Great Business
With the recent and expected future growth in legal sports betting, those placing wagers will need places to go for betting direction. Beginning a sports prediction business from the ground up can be challenging, but potentially lucrative. It just takes discipline, focus and a proven method of prediction.
