How Much Money Do You Need to Start a Sportsbook?

Sportsbook

Sports betting on the internet has become an increasingly popular activity, and there are now many options to choose from. You can use dozens of legal sportsbooks in your state, and they all have different sign-up bonuses that encourage you to use their website or mobile app. These bonuses can range from free bets to risk-free bets to cash prizes.

The amount of money needed to start a sportsbook varies widely, depending on the number of bets you plan to place on games. If you only plan to take bets on a few games a week, then you can start with a few hundred dollars. However, if you plan to run a busy sportsbook, then you will need at least half a million dollars. You also need to ensure that your minimum bet each day is 20% of your handle. You must also have plenty of cash on hand in case you lose money.

Some sportsbooks also offer reload bonuses. These bonuses are generally multiplied by 1.2 to give you a 20% boost. This means that if you deposit $100 and win, you’ll receive $120. Reload bonuses differ in value, but generally speaking, the bigger the deposit, the more the bonus will be.

Many online sportsbooks also offer risk-free bets. This is a welcome bonus offered to new customers and allows them to try out the site. You can use the money on a bet that would have otherwise been unprofitable.