A bookie’s handle is the total amount of money wagered during a set time-frame such as a day, week or month. A bookie’s hold percentage is the difference between the money paid out on winning bets and the money collected on losing bets plus the juice or commission.
Each of these are vitally important to any bookie’s overall financial goals. If your handle is too low, you will not be able to generate enough net profit to meet your goals. If your hold percentage is lower than average, this will also cut into your bookie operation’s bottom line.
This is where the right pay per head bookie services provider can really earn the weekly per head fee it charges for each active betting customer. By completely automating the process while also providing the necessary business tools to manage your betting board, pay per head software solutions give you the best chance to meet and hopefully exceed all your financial goals.
Increase Your Handle
As a private bookie, you are most likely dealing with a set customer base. The easiest way to increase your weekly handle is by adding more customers to that base. However, this strategy will also increase the weekly cost of your pay per head service.
More is not always better when it comes to your active betting customer list. You still need a base large enough to support your business goals. Yet, it is far more profitable to have 10 customers averaging $1000 a week in bets than 100 customers betting $100 a week.
You always want any player to bet within their means. But limited betting options have a way of suppressing betting potential. Today’s top-rated pay per head sites have access to the same betting lines and odds as the big commercial online books. This gives you the option of building out your board to completely level the playing field against competition.
More betting options on more sports and sporting events is the easiest way to increase your weekly handle. The other main way is adding more high rollers to your sports betting customer base.
Increase Your Hold Percentage
Assuming that you have a healthy weekly handle, the money you make on those bets is the money you get to put in your pocket. Most commercial sportsbooks operate on a hold percentage between five and eight percentage.
As you can see, the margins on betting volume can be rather thin. That is why it is so important to align your bookie business with a pay per head site that can deliver sharp betting lines. You will always have the ability to move those lines and make instant changes to your betting board.
By properly managing your betting board on a regular basis, you can enhance your overall hold percentage. Some weeks are going to be better than others. The goal is to maintain an acceptable level of profit over an extended period of time.
Your bookie services provider has a number of real time business reports that can aid this process. A running bet ticker keeps you in front of the action coming in. Player position reports can help to single out any unwanted negative exposure. Pre-settlement and settlement reports paint an accurate picture of the main variables that impact your net profit picture.