The start of a new football season marks the start of the busy season for betting on sports. Land-based and online betting portals in states that recently legalized sports betting within their borders continues to expand the market. The big offshore commercial sportsbooks are also gearing up for another big season in both the college ranks and the NFL.
Private bookies working with a quality pay per head site to run and manage an independent sportsbook need to put some plans in place to maximize the return on investment. The private bookie still plays a very prominent role in the US sports betting industry when it comes to total betting revenue taken in. If you are thinking of taking action on the upcoming football games or currently running your own book, now is the time of the year to get all of your ducks in a row.
Assuming you are happy and satisfied with your current pay per head bookie software provider, the next question you need to ask is “are you fully utilizing everything they have to offer?”
The primary role of any price per head shop is processing all the daily online transactions that go into a business of this nature. From an operating system that is safe, secure and reliable to a customer service department that comes from a sports betting background, your PPH service plays a vital role in your bookie business.
Building Out Your Betting Board for Max Profit
One of the main benefits of your pay per head service is fast and easy access to sharp betting lines for more than 80 different sports. It is entirely up to you as the bookie to build out your board, but should have everything you need to level the playing field from a betting options standpoint against the big commercial online sportsbooks.
You should also have the ability to move your betting lines and make changes to your betting board that best suit your business interests. By using a running bet ticker for the daily action coming in, you can stay way out in from of that action with up-to-date betting lines.
Building Up Your Betting Base for Max Profit
Private bookies make money on the difference between the winning bets paid out and the money collected on losing bets plus commission or juice. This margin is not as wide as you would think and you also have to subtract out the weekly price per head fee for every active betting customer.
Putting this concept into real dollars, if you have a $100 a week bettor losing every bet they place at 10 percent juice, you are still just breaking even on the juice if you factor in an average price per head fee of $10. These types of customers still play an important role in the revenue picture because they tend to lose much more than they win. However, you need an overall betting clientele that can support the financial goals you have set for your business.
Fewer bettors at higher weekly betting amounts is the best formula for the pay per head business model employed by a private bookmaker. You need to build up your betting base with recreational bettors that bet with larger weekly bankrolls.
Building Multiple Streams of Revenue for Max Profit
No one in the online sports betting industry would dispute the fact that football and to a lesser extent basketball are the cash cows for generating profit. However, getting a larger piece of the entire online gambling industry with a pay per head racebook for horses and a full-service online casino with live- dealer table games remain excellent sources for additional income.