Accountancy software for sports betting?

[danw11]

I'm looking for advice on suitable accountancy software for sports betting. I have 15 bank accounts and roughly 500 bookmaker accounts. The usual scenario would be for funds to be deposited from bank accounts into bookmaker accounts and bets to be placed. A profit or loss would then be realised and potentially a withdrawal back to bank account (in the case of a win).

I want to be able to manually enter all transactions made so that all balances are accurate and upto date across all bank and bookmaker accounts. I'd also need to be aware of funds that are owed or waiting to be received to my bank accounts. A situation where I'd be waiting for funds would occur if I made a withdrawal from a bookmaker and the funds are waiting to be processed back to my bank account.

I have considered Sage Accounts 50, but was told that it only supports 99 bank accounts. I assume my 500 bookmaker accounts as well as the 15 bank accounts would all need to be set as bank accounts in Sage, which would obviously not be possible.

Any software suggestions would be greatly appreciated. Thanks.

Dan

 

[Renuka Rana]

Google for Betologic!

 

[danw11]

Betologic is software for betting companies who have customers. I am a customer myself holding multiple accounts with bookmakers.

I just want to be able to keep track of funds going in and out of the bookmaker account and bank accounts that I have.

As I have over 500 bookmaker and bank accounts I need accounting software that caters for that. Sage products only support 99 bank accounts, which is of no use to me.

Can anyone suggest accounting software that does allow you to add more than 500 bank accounts?

 

[Samir]

I'd look into something like gnucash or other open source packages.

The other thing you could do is have 99 accounts set up in 5 different 'companies' and then consolidate those financials into one company to get the full picture.

 

[danw11]

Thanks Samir. I have actually been told of a way of entering as many Bank Accounts as I like. Assuming this works, do you think Sage would be the best route to go down or would gnucash be easier for a novice to get to grips with?

 

[Samir]

I've not used Sage before, and GnuCash has a slight learning curve if you have not used accounting software before.

What I would do is to try both (if possible) and run through all the different transaction scenarios you may have in both systems. Then just pick the one you like.

 

[danw11]

Thanks for your help, Samir.

 

[Samir]

Thanks for your help, Samir.

Welcome! I'd love to hear which system you use and your feedback on Sage. I'm always on the lookout for a better system.

 

[hoopowl]

I'm looking for advice on suitable accountancy software for sports betting. I have 15 bank accounts and roughly 500 bookmaker accounts. The usual scenario would be for funds to be deposited from bank accounts into bookmaker accounts and bets to be placed. A profit or loss would then be realised and potentially a withdrawal back to bank account (in the case of a win).

I want to be able to manually enter all transactions made so that all balances are accurate and upto date across all bank and bookmaker accounts. I'd also need to be aware of funds that are owed or waiting to be received to my bank accounts. A situation where I'd be waiting for funds would occur if I made a withdrawal from a bookmaker and the funds are waiting to be processed back to my bank account.

I have considered Sage Accounts 50, but was told that it only supports 99 bank accounts. I assume my 500 bookmaker accounts as well as the 15 bank accounts would all need to be set as bank accounts in Sage, which would obviously not be possible.

Any software suggestions would be greatly appreciated. Thanks.

Dan

Hi danw11,

I am working on an app for live sports betting. In the process, I am building out the accounting side of things to provide accounting-like reporting, in addition to bet tracking-like reporting. I am interested in learning more about your requirements.

The app is currently built on django, a web development framework. The accounting-like functionality will be powered by django-ledger, a double entry accounting package.

Would you like to setup a call?

Pierre