Bookies make money on the difference between the funds paid out on winning bets and the money collected on losing bets plus the standard 10% industry commission, which is also known as juice.
Using simple math, it stands to reason that a bookie’s hold would be 10% if all the wagers were balanced 50/50 on either side.
The actual goal for any private bookie should be developing a 10% hold as your average take. Some weeks may be higher depending on the outcome of the most heavily bet games. It is not realistic to assume the weekly betting handle (or total volume) will be balanced perfectly on either side.
There are ways to help the balancing process through advanced technology and sophisticated software solutions. This is where the right pay per head bookie services provide can really earn their weekly fees for active bettors.
Pay Per Head Automation and Online Performance
You should view your pay per head provider as a means to fully automate your bookie business while giving you the ability to operate it online. An even more important goal is to take as much of the guesswork out of the decision making process when it comes to managing your betting board and managing your individual betting customers.
Professional sports betting technology creates the proper online environment for running and managing your bookmaking operation. This includes an online bookie dashboard tied to your online betting platform.
You need the proper technology in place to cover the entire online administrative end of your business. Every online transaction needs to be completed in an accurate, reliable and safe fashion. This ensures consistency across the operational end of things.
The proper software solutions are designed to be comprehensive in their nature while also being turnkey to implement. This creates a business environment that can provide real time business analytics that aid the decision making process.
From individual player position reports to weekly settlement statements, you should always know exactly where you stand with each active bettor in your overall customer base. A daily bet ticker lets you monitor all the action as it is coming in. This is another important aspect of the balancing process for each game on the board.
Using Pay Per Automation to Build Player Profit
Another very important aspect of the pay per head automation process is building a business blueprint for your bookie operation. By studying each active player’s online betting profile, you can uncover certain betting traits, habits and tendencies.
You can also separate the sports that account for most of your weekly handle while identifying additional opportunities for growth. It is far more productive to capitalize on these opportunities ahead of time as opposed to dealing with issues after the fact.
As the bookie agent, you will always have complete control over your sports betting board. The leagues, markets and added betting options you offer are completely at your sole discretion. Pay per head betting board software solutions simply give you the chance to build out that board as much as you desire.
You are always trying to meet each one of your individual betting customer’s needs. With the right PPH service, you can exceed those needs with betting options that create added weekly volume among active bettors at no additional pay per head cost.