As a private bookie running and managing your own independent sportsbook, things can get a bit crazy when the action is pouring in. You need the right Pay Per Head business tools that can always keep you way out in front of things. Fortunately, today’s highly sophisticated bookie software solutions were designed to do just that. For a low, weekly fee for just your active betting customers, you get an entire tool box filled with everything you need to be successful as a private bookmaker.
Some tools are designed to market your business and others are designed to service your customer base. One of the biggest tasks you face on a daily basis is managing your betting board. The following three business tools are instrumental to keeping things tight and sharp while helping to avoid any unwanted negative exposure that can impact cash flow as well as your bottom line.
Move Your Betting Lines
One of the biggest benefits derived from your price per head shop is fast and easy access to all the betting lines you need, when you need them. Building out your board has never been easier and you will always be able to keep the playing field level with the big commercial sportsbooks when it comes to matching what they have to offer.
A big part of the day-to-day management of your bookie business is moving those betting lines and changing your betting board to best meet your business needs. You already have the inside edge as a private bookie with solid insight into your betting customers’ habits and tendencies. This should help you move some money around with the proper tweaks to the lines for the biggest betting events. Best of all, the ability to quickly move your betting lines as many times as necessary is include in your weekly pay per head fee.
Cap Your Betting Limits
One of the first steps to taking your booking business online with the help of a pay per head provider is creating individual account profiles for each of your betting customers. This lays the proper groundwork to managing those online betting accounts. The recorded activity in each of those accounts is the basis for every business report you run. Whether you are taking a general snapshot of that day’s activity or drilling down deeper to a customer by customer detailed analysis, those account profiles can capture every aspect of someone’s online betting.
There are two different tactics that can be used to reduce your overall exposure in any one sporting event. The first is setting betting and credit limits on an account by account basis and the other is the mass edit tool that is part of your pay per head software package. Making changes fast and across the board gives you that ultimate level of control that is a vital part of the bookmaking business.
Your customers are simply doing their job when they jump on the favorite of possibly the underdog. You need to do your job by minimizing that exposure as much as possible with specified betting limits on a game by game basis.
Lay Off Excess Action
Moving the lines and capping the betting limits can only go so far in certain instances. Sometimes the action becomes so lopsided one way over the other that negative exposure is just too hard to avoid. The top pay per head providers offer a layoff account as a way to alleviate any exposure you are not comfortable handling on your own. The layoff account can be a very valuable tool in the box, but one that should only be used sparingly. Most times you can manage all the action on your own, but having that emergency outlet to balance out the action gives you the piece of mind every private bookie needs.