While your bookie services pay per head site takes care of the day-to-day administrative end of your bookmaking business, there are certain tasks that you still have to handle on your own. Pay per head services can aid in the payment and collection of funds but actually settling your player accounts is still up to you.
The best thing about being a private bookie in the very lucrative sports betting industry is the ability to run your own show. You get to hand pick your betting clientele, set any betting and credit limits you wish to have in place and build out your betting board in any fashion you choose.
Working with the right pay per head bookie services provider, you will have all the necessary tools to run and manage that business anyway you choose.
Credit Limits vs. Bulk Payments
Offering credit to your players can be a vital part of the added level of customer service you provide as a private bookie. However, if credit limits are not managed properly, they can become issues that need to be dealt with after the fact.
Pay per head software tools let you set up credit limits as part of each individual player’s personal betting profile. There are also ways to adjust those limits as needed. You can always start a player out with a lower line of credit and then increase it in time. Matching available credit to a player’s financial wherewithal is the real trick to a smooth running bookie operation.
If you are a veteran bookmaker, you already have a good feel for each of your active player’s ability to meet their financial obligations. Yet, adding to your base puts you back at square one with new players in the fold.
The bottom line with offering credit and managing credit limits is to avoid learning things the hard way. One alternative option is to collect bulk payments from your players and then manage their accounts accordingly.
Having a player’s money upfront through a bulk payment and then settling accounts on a regular basis is the ultimate way to run and manage a successful bookie business.
You will first have to establish a level of trust that works both ways. This can tricky when you are first building your player base but it is the only way to ensure that everything runs smooth for both parties.
Pay Per Head Player Management Reports
Fortunately, your pay per head service offers a selection of real time business reports to help support your efforts. Player position updates provide a quick snapshot of someone’s sports betting activity over a specific timeframe. This is an excellent way to always remain out in front of the action coming in.
Pre-settlement reports can be run at anytime as a way to see where you stand with a particular player. Eliminating any surprises ahead of time will eliminate any issues when it does come time to settle an account.
Finally, the actual settlement report clearly notes how much money should be paid out for accounts that are in the black and how much money is due for accounts in the red. This is where an upfront bulk payment keeps this entire process easy to manage.
Credit still remains an important part of the customer service you offer. However, a player with upfront skin in the game is far more easy to manage on a consistent basis.