At TrueBet, we’re always looking for ways to enhance your betting experience. That’s why we’re so thrilled about Paid Groups. This exciting new option lets you monetize your TrueBet groups by charging a monthly subscription fee, making it easier than ever to turn your passion for sports betting into a profitable side hustle.
Getting started with Paid Groups is simple. In just a few steps, you can set up your own private group, invite members, and start generating income. Think of it as creating your very own VIP betting club, where members gain access to a juice-free betting environment – all while you earn a share of the profits.
Ready to learn more? Let’s dive into how you can set up your Paid Group and start making money on TrueBet today!
Step 1: Create a Group
Navigate to the “Groups” page on the sidebar. Once here, you will see the option to join a group or create a group. These buttons are located on the top right portion of your screen on desktop or top middle of your screen on mobile.
Select the “Create a Group” option.
Step 2: Enter Group Information
Give your group a name, password, and max number of members that can join. Also, feel free to add a group avatar if you choose.
Note: Your password will not be needed for other group members to join your group. You can either show them a QR code or send them a link to join. However, they can also join your group by entering in the name and password.
Step 3: Turn on the “Paid Group” Toggle
You will have the option to designate this group as a “Paid Group” by using the toggle. For more information, hover over the “i” icon.
Important: In order to have the option to create a paid group, YOU MUST BE A GOLD MEMBER. If you are not a gold member, and would like to try out paid groups, become one today.
Step 4: Create a Stripe Connect Account
We need a way to pay you, so we partnered with Stripe to handle all payments. Once you set up a Stripe Connect account, you will have money automatically deposited into your bank account each month. If you don’t have a Stripe Connect account, you will see this:
If you already have a Stripe Connect account, you can skip this step.
Step 4.1: Click “Create on now”
In order to get started, click the link to create a Stripe Connect account. This will launch a new window where Stripe will guide you through the process.
Step 4.2: Enter Email
Your email should already be populated in the email field. If it is not, enter your email that you used to sign up for TrueBet and click continue.
Note: You must use the same email that is linked to your TrueBet account.
Step 4.3: Your Business: We have populated this for you.
Don’t worry about this page. We have populated the values for you for convenience. Click continue.
Step 4.4: Connect Your Bank Account
Search for the bank account you’d like to use to receive payments.
Stripe will lead you through a guided process of logging in to your bank account. You will be prompted to enter username, password, and security question answers (depending on your bank). Most banks will require two-factor authentication, so make sure you have your phone near you if signing up on desktop.
Account information is encrypted and secured by Stripe. Read about Stripe’s security policies if you are curious.
Step 5: Verify You Have a Stripe Connect Account
If you have successfully linked your Stripe Connect account, you should see “Stripe Connect Account: Active” as shown below.
Step 6: Set Monthly Fee and Create Group
We’re getting to the exciting part! Now, you will set the fee that other members will have to pay when they join your group. This fee is recurring, so they will be charged monthly to remain in your group. You can always remove group members if you choose to, and their subscription will be cancelled.
We recommend setting the monthly fee based on the type of bettors that will be in your group. If you are inviting high-rolling, experienced bettors that throw away thousands to The Juice every year, we’d recommend setting a high monthly fee. On the flip side, if you are inviting newbies, it’d be best to set a low monthly fee. You can charge anywhere between $3 and $100 for each member to join your group.
Note: You will have the ability to change the monthly fee whenever you wish. However, the monthly fee will not change for group members that have already joined your group. You can use this as a tool to give early members a discount.
Once you are satisfied with your monthly fee, create your group!
Step 7: Invite Friends and Start Betting
Groups are useless without other members because you need people in the group to accept the bets you propose.
Navigate to the “Groups” page on the sidebar. You should see your group with a yellow money sign icon (indicating this is a paid group). Click “Invite Friends” to copy a link, and send this to everyone you’d like to bet with!
Once you have other members in your group, you can propose and accept bets. We will handle the rest!
Enjoy betting without juice and generating passive income!