Your ultimate goal as a private bookie running and managing your own independent sportsbook is to make enough money to make it a viable business that meets all of your financial needs both in the short term and over the long haul. One of the biggest aspects of reaching your overall business goals is building and growing a customer base that can sustain your bottom-line profit goals.
Another important aspect of continued growth and prosperity in what can be a very competitive and sometime volatile business environment is diversity across all the sports betting action that comes in on a daily basis. Diversity can pertain to the various sports leagues and sporting events that make up your betting board, but it can also pertain to the type of bets you book.
Sports such as football and basketball at both the professional level and in the college ranks are always going to be heavily bet on the posted pointspread and total lines that are released for the games.
With the continued help and support from your Pay Per Head online sports betting software solutions provider, you should always have quick and easy access to all the betting lines you need, when you need them. This is one of the cornerstones to the features and benefits that are a part of the low, weekly price per head fee you pay for all of your active betting customers.
Another important aspect of the service your Pay Per Head site provides on an ongoing basis is the ability to quickly move your betting lines and change the offerings on your betting board to best meet your specific needs. Just because the spread jumped a point at one of the big online sportsbooks taking action on tonight’s big game does not mean that your betting line should move accordingly. You need to make decisions based on the daily action coming into your independent sportsbook.
With a wide array of betting events along with the ability to control your own betting lines, the next step in the diversification process is expanding the way your overall customer base bets on the games.
This is where the idea of promoting moneyline bets for every major sports league can expand the actual profit you take in. Moneylines are the common bet for hockey, baseball and soccer matches, but often times they remain an afterthought when it comes to your two biggest betting sports; football and basketball.
Some private bookies may shy away from promoting moneyline bets in light of the betting public’s propensity to hammer the favorites. Many times the favorite wins, but fails to cover the spread. This is a loss for bettors and a win for the books. Every time the favorite wins it is a loss for the books on the moneyline, all be it a limited and calculated loss. A very common aspect of any sport is straight-up upsets. Depending on how high the closing moneyline was for betting the favorite, these upsets can result in huge gains in bottom-line profit while also improving your overall hold percentage.
Another advantage to increasing the action you take in on moneyline bets for football and basketball is the added flexibility in setting and moving the lines. Your latitude in shifting money to an opposite side of bets on the pointspread is rather limited and often ineffective when everyone is hammering one side over the other. You can easily make a moneyline far more attractive for betting the underdog and a bit costlier to bet the favorite.
The gains and losses for moneyline bets can increase the overall volatility of your bookie business, but over the long term, they can put more money directly into your bottom line.