Risk and sports betting go hand-in-hand. Betting on a game involves the risk of losing your money. Taking that bet as a bookie adds the risk of paying off the winners. The big difference between bettors and bookies is the commission (or juice) the bookie charges on their risk.
A bookmaker’s hold refers to the difference between the money paid out on winning bets and the money collected plus the juice on losing wagers. If a private bookie can maintain a hold of 5% or higher on a regular basis, the return on that business can be rather lucrative depending on the overall handle.
A handle refers to all the money taken in on bets over a designated time-frame such as a week or month. A private bookie also needs a high enough handle to make this business venture worthwhile.
Basic Betting Tendencies & Financial Risk
Another basis aspect of sports betting is tendencies. The average sports bettor tends to bet on favorites through the spread or money line. They also tend to bet on the OVER on total lines. These tendencies work in a bookie’s favor since there tends to be a 50/50 split between favorites and underdogs as well as OVER and UNDER results over an extended period of time.
That being said, a private bookie can find themselves in a sticky situation in the short term. Suppose all of your betting customers jump on Dallas as a favorite against Philadelphia in Sunday’s big game. You are suddenly facing quite a bit of financial risk if Dallas does go on to cover the spread.
With the right pay per head bookies services site by your side, you always have the option of using a layoff account to minimize your negative exposure. This lets you move all or some of that action (and risk) to the PPH site.
A pay per head layoff account may be the biggest way professional bookie services can lower a private bookie’s risk. However, there are other tools you can use to protect your hold while enhancing your bottom-line profit.
Betting Board Management & Financial Risk
Your pay per head provider is instrumental in helping to build out your overall betting board. More importantly, it is instrumental in helping you manage that board.
Many times, simple betting line movements and changes to the betting odds are enough to balance out the money wagers on either side of a bet. Through easy access to real time business analytics covering all the daily and weekly action coming in, this timely information helps to fine-tune the process of line moves and changes.
Software tools let you make instant changes across the board as well as changes to credit and betting limits on an account by account basis.
The key to success as a private bookie is developing a high level of control over the action coming in. A quality bookie services site offers everything you need to always stay way out in front of that action.
This lets you take full advantage of opportunities ahead of time while avoiding the need to deal with issues after the fact.
Working with today’s top-rated PPH services is similar to adding a silent business partner that always keeps your business interests top of mind.