This is the time of year where local bookies thrive as long as you keep a close eye on all the betting action coming in. If you are like most private bookmakers running and managing your own independent sportsbook, the start of the NFL season marks a dramatic uptick in your overall sports betting business. Staying out in front of your daily NFL action will help you closely monitor all the bets in play for that week’s set of games.
The best way to stay ahead of the curve is to work closely with your Pay Per Head online sports betting software provider to gather the necessary business analytics to make the right business decisions at just the right time. Things can quickly spin out of control if you are not on top of things on a regular basis. Fortunately, the top price per head shops in the bookie software solutions industry can provide fast and easy access to all the variables that can have an impact on your overall betting picture.
Private bookies make their money on the commission earned on losing bets. The difference between the winning bets you have to pay off and the losing bets plus the juice is known as your hold percentage. The closer to 10 percent, the better off your weekly cash flow and overall bottom-line profit will be. As long as you are averaging at least a five percentage hold on the bets you book, you are trending in the right direction. If your hold percentage begins to dip below that number, it could put some downward financial pressures on your bookie business.
There are a couple of ways you can improve your overall hold percentage for the NFL action you take in. One of the most important benefits included in the low, weekly fees you pay your PPH service provider for each of your active betting customers is the ability to set and move your own betting lines. You should also have the ability to make an necessary changes to your betting board that best suit your business needs. These moves can be used to shift some money from one side to the other based on the previous action that has already come in.
Another business tool that you can use to raise your hold percentage is individual account profiles that can be preloaded with the proper credit and betting limits on a customer by customer basis. This is an extremely important element of control that can help you reduce any unwanted negative exposure that could impact cash flow and weekly profits. As an independent sports bookmaker, you have the ability to determine who you take bets from while putting into place any necessary parameters on their individual betting action.
Working with your Pay Per Head provider, you can also create a layoff account to move action away from your book if your comfort level on any single game or single bet is compromised. This is why it is extremely important to closely monitor all of your daily action from the time the opening NFL betting lines are released right up to the start of the games. It is far better to act ahead of time in a positive manner as opposed to having to react to a bad situation.
You should be able to think of your Pay Per Head service as a trusted business partner that is right by your side on a continual basis. The top price per head shops in the sports betting industry understand that their future financial success hinges on yours as a private bookie utilizing their betting business software solutions.