We hope you’ve been able to do a deep dive on our reviews of great pay per head sites like PayPerHead and BossAction. In an internet world where every tech nerd can build a betting site that looks great on the surface, you need a guide to help you choose where to start your bookie career.
But once the games officially begin, what are some strategies to ensure you don’t go bust within a week? Here are some bookie tips to ensure you get the most out of your pay per head bookie software.
Check Reports Daily
PayPerHead and others have amazing, intuitive bookie software for both desktop and mobile devices to see every single bet your players are placing. Check-in on them daily to see what your players are doing. Whether they’re taking heavy action on faves or ‘dogs, the home team or away team, obscure tennis or the National Football League.
Your players will have a particular gaming DNA, and to understand how to market to them or how to protect your bottom line, you need to understand who they are and what their interests are.
This is especially true if you plan on having a good crop of casino players. Offering an online casino within your sportsbook software can be highly lucrative to any agent with a good crop of players. But, if your limits are too high, things can get dicey for your cash flow quickly. Check those reports to understand whether your limits provide steady wins and minimize losses to your account.
Finally, checking your reports regularly will also help you keep up with player activity. If you start seeing a dropoff in play, it may be time to reach out and see what issues may have slowed them down. Trust us when we say something will frustrate your players from time to time.
Use Your Player Trends
Once you’ve had a good, hard look at your players and their trends … you can find ways to use that info to your advantage! That doesn’t mean you start doing dishonest things in their accounts. Instead – like any bookie – understand what your players are doing as a unit and tweak if necessary.
If you notice that 95% of your players are betting heavily on any team in the New York market, understand where your action will be heading in the future and push the spread half a point – or push the juice about 10-20 cents higher. It’s good to leave initial line creation to the pros, but nobody understands your group of players better than you. Using extra knowledge to tweak things a point here or there keeps your odds honest and could give your sportsbook an extra push.
If your players are casino lovers, understand what games they play or don’t play the most and offer bonuses or free play to help increase handle. Every casino game has a hold percentage for the house. If your casino players tend to love blackjack, a casino game with low hold, offer bonuses to slot games to push them to games with a better house edge
PROMOTE YOUR CASINO
Speaking of casino, don’t forget about it. Casinos aren’t rigged, they don’t have to be. Since the beginning of time, Casinos were created with an edge for the house. That means you are guaranteed a win percentage in your favor as long as they keep playing – no matter what. A player can win a million dollars on day one, but the house edge will have the numbers lean in your favor over time. If you want steady cash, promote your casino and keep these players happy.
LAYOFF WHEN OFFSIDE
There will be times when the opening lines don’t balance the action for you. In fact, there will be plenty of times. And you’ll also realize line movements won’t stop the bleeding either. If things are getting close to kickoff and you realize all the action is on one side of your bet, open up your layoff account and place a chunk of action on the other side.
Certain sites like BossAction offer layoff betting to save bookies from having to watch nervously as “Buccanners -7” has the equivalent of a mortgage on the line. Make sure the pay per head bookmaking software you use offers simple layoff betting to quickly make a play on the other side right before kickoff.
DON’T UNDERESTIMATE THE RACEBOOK
Racebook play might be seen as a pastime for funny hats and cocktails for the newer online gambler.
It’s much, much bigger than that. Vegas and some online sites have reported that their one-day payday from the Kentucky Derby equals the Super Bowl. Horse racing is the first legalized form of gambling nationwide in the United States. Don’t underestimate its value and crop of players looking to leave the local track and give online offerings a try.
Try to find PPH software with a good racebook and a good crop of tracks and exotic bets to make sure old, and new racebook bettors are happy.
BE CONSERVATIVE
Some say that bad luck can end your bookie career; nah, it’s greed. If you start offering wagers way above your pay grade, you can see your balance suffer quickly. It’s best to have a conservative mindset in the betting world. Players are meant to take risks; you’re meant to run a business. Therefore, your focus should always be on balancing action and setting limits that avoid pendulum swings in your account. You can do that by setting conservative limits on wagers that aren’t major leagues or major events and refusing wagers when the sport or league is too obscure.
Understand that Vegas wasn’t built on having high rollers dropping millions over a weekend. It’s built on the long game. Understand that proper service and patient growth will ultimately get your bookie fortune faster than taking $100,000 bets.