Building a healthy weekly betting handle should always be a top priority for private bookies. Yet, you get paid on the weekly hold you generate from that action.
Very simply, your hold is the difference between any money paid out on winning bets and the money collected on losing bets plus the commission or juice charged to book that bet. If your standard juice charged is 10 percent, a hold percentage that is five percent or higher adheres to industry standards.
Some weeks are going to be better than others in the bookmaking business. You should be more concerned with your average hold over a longer time-frame. One of the best ways to maintain a steady hold of five percent or more is to align your bookie business with a top-rated pay per head service.
What Does a Pay Per Head Service Offer?
A quality pay per head bookie services site provides the means to fully automate your business while running it online. Software tools are designed to take the guess work out of the decision-making process.
A comprehensive pay per head plan should give you everything you need to run and manage a successful bookie business. This plan should have a set weekly per head fee attached to every one of your active bettors.
Your base plan should not have any extra fees or hidden costs attached to basic bookie services. There could be some added costs to upgrading the base plan with extra features that provide additional benefits.
Given the fact that there are hundreds of pay per head sites in today’s marketplace, you need to take the extra time in the due diligence process when it comes to finding a bookie services provider that meets all of your business needs at an affordable weekly rate.
Pay Per Head Player Collection Tools
The one thing that pay per head sites do not provide is a means for actual financial payouts and collections. As the bookie agent, it is still your responsibility to handle all the financial aspects of the operation.
However, what today’s top PPH services do provide is the means to accurately calculate a player’s position as any given point in time. Through the use of a variety of real time business analytics, you can drill down as deep as you want on a player-by-player basis.
This process starts with an individual account profile for each of your betting customers. This is where any desired betting and credit limits can be put into place. These limits can easily be adjusted as needed. This sets the necessary level of control to aid the collection process.
At any point in time, a pre-settlement report can be generated on a player-by-player basis. These are extremely helpful in assessing your financial picture in-between collection time-frames.
An actual settlement report is a vital part of the collections process. It takes all the guesswork out of the amount of money that needs to be paid out and the amount of money that needs to be collected.
This is where your pay per head provider really earns its weekly fee. You have the ability to set the terms surrounding the settlement of accounts. You have the flexibility to adjust betting limits and credit limits on an individual account basis. Most importantly, you have the choice of who you do business with.
Pay per head automated bookie services provides the means to manage all three of these tasks.