Analyzing Your NFL Hold Percentage With Pay Per Head
The NFL regular season is rapidly approaching its halfway point. Year-to-date, betting underdogs and the UNDER have been a solid bet all season long which, in return, should have resulted in a higher overall NFL hold percentage for private bookies running and managing an independent sportsbook. Each bookmaker’s specific betting clientele is going to be different. Yet, the inherent lean towards betting favorites and the OVER should point to a great start to the 2019 season.
The first question you need to ask yourself as a private bookie is:
- What is my specific hold percentage for the first seven weeks of the NFL season? The next question you would want to ask is:
- Is this hold percentage higher or lower than my overall bookie business return?
Just to recap, your hold percentage is the difference between the money you pay out on winning bets verse the money and commission you collect on losing bets. In a perfect world, that number should be 10%. The reality of the bookmaking business dictates it should be somewhere between 5 and 7.5%.
If your customers have been jumping all over favorites and OVERS it could be higher than 10% right now, but you need detailed business analytics to paint an accurate picture of your real time NFL results.
Pay Per Head Hold Percentage Reports
The right pay per head bookie software solutions can break things down all the way to an account-by-account basis. You should have fast and easy access to a hold percentage for each betting customer on a sports by sport basis. Taking an even closer look at the situation, you should be able to determine an individual bettor’s hold percentage for specific NFL bets such as pointspreads vs. total lines. This includes parlays, if applicable, along with any other type of bets they placed on the games.
While this may appear to be overkill in trying to properly analyze your bookie business, the more detail the bettor. You always have the option to adjust betting and credit limits on an account-by-account basis. You also have the ability to set minimum and maximum limits on particular bets.
As a private bookie, your primary goal is to reach and hopefully exceed any financial projections you have in place. Another important part of your job description is elevated customer service and individual attention to detail from a customer service standpoint. However, by breaking things down to the finest details, you can uncover where you are making your money and where you are losing your shirt. There is nothing wrong with adjusting maximum betting limits to improve your bottom line.
General Business Management With Pay Per Head
The NFL remains the biggest betting sport for most private bookies. By putting in the proper checks and balances for your hold percentage for this sport, you can create a system that breaks down profit figures across a wide spectrum of all your profit centers. You should also know the difference in profit between college football and the NFL. You can set up a system to properly analyze the upcoming NBA and college basketball season. Taking a highly detailed approach to understanding your bookie business will not only improve profit figures in the short term but over the long-term results of all the action you take in.
There is a whole second half of NFL games to be played plus the postseason all the way up to Super Bowl LIV. Now is the time to take better control of the situation with the continued support and help of the right pay per head bookie software provider.