Unlike what the media portrays and movies and TV shows, being a bookie is not about luck. It is in fact a scientific process that relies on odds and statistics in order to make a profit. Therefore, bookies do not rely on customers losing their bet to make a profit. Instead, it is about taking in a large volume of wagers every week. This is known as the sports betting handle. Thus, in this tutorial, we will teach you How to Increase your Sports Betting Handle.
Before we begin, let’s go over the basics on how a bookie makes money. Bookies make money from the sports betting hold percentage. The hold percentage is the percentage of money a bookie keeps for every wager made. One can think of it as the sportsbook revenue and the percentage will vary depending from sportsbook to sportsbook.
On average, a bookie will have a 7.2 hold percentage but can greatly vary depending from 5% to 10%. There are several reasons behind the fluctuation but the main reason will depend on the sportsbook management. These include the Vig or Juice the bookie charges to lines management and to a lesser degree on luck.
If a bookie can manage a 10% hold or higher, they are in excellent shape. On the other hand, anything below 5% is cause for concern. However, that is an issue that we will talk about in a different bookie tutorial.
This brings us back to the sports betting handle since the higher the handle the higher the profits. Therefore, having a high sports betting handle is one of your main goals as a bookie.
>> Watch this Video for more information about how Bookie make money
Learn How to Increase your Sports Betting Handle with a Pay Per Head Service
Quality Over Quantity
Now that we know that having a large sportsbook handle is a good thing, how do we increase it? The obvious solution would be to increase the number of players. However, that is not always ideal since it will require increasing your sportsbook advertising efforts and weekly expenses.
The best solution would be to increase your current player’s hold percentage. This is because it is better to have 20 players that bet $1,000 per week than 200 players that bet $100 per week. The reason for this is because while the handle is the same, the cost of operation is bigger.
Of course, having a lot of players is a good thing but focusing on quality players is a great strategy. Especially since it is much easier to achieve these goals when using a Bookie pay per head service.
Expanding Your Sports Betting Options
The more betting options available to your players will certainly increase the likelihood of them betting more. However, adding more wagering options to your sportsbook is costly. This is where the PricePerPlayer.com Pay Per Head Solution comes into play.
This is because a good PPH service provides thousands of sports betting options on all major sports and leagues. In addition, PricePerPlayer.com also provides at no additional cost live betting and a player prop bet builder.
Using the Bookie PPH Tools and Features to Your Advantage
Of course, just having more sports gambling options is not enough to increase your betting handle. This is because your players must no only be made aware of these options. Bookies also need to encourage them to bet more on their favorite team or game.
This is where having the right reports on individual players or groups of players comes into play. One of the advantage of using a Pay per Head provider is because of the tools they provide bookies. For example, bookmakers can pull a report on player habits. Thus, they know the type of bets specific players they like to make and sports they like to bet on.
Using that information, they can use they can setup specific retention promotions. Furthermore, they can also setup a communication that will let players know when a good play is about to happen.
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