When you are managing your very own business, looking at the performance of your operation matters. It is your primary way to finding out if your business is doing well. It can help you determine if you are spending too much on your operations. Or also indicate if you need to spend more on marketing and advertising to increase your handle. The same goes with your sports betting business. In today’s tutorial, we will help you identify the important information in your sportsbook report.
One of the benefits of using a pay per head software is the feature that allows you to instantly generate reports. You can tweak the settings to select what data you want to see, or set it to cover a specific time period. Thus, this cuts down what would be hours spent gathering data. Of course, any increase in efficiency helps with potentially increasing your revenue.
Important Information in Your Sportsbook Report: What to Keep
In a sportsbook report, several important numbers and statistics can provide a comprehensive overview of the betting activity and financial performance of your sportsbook.
- Handle. The handle is the total amount of money wagered by bettors within a specific time frame. This could be per day, week, month, or year. It represents the total volume of bets. All of the other numbers you need to keep track of will be relevant to the handle.
- Revenue. Revenue refers to the income that the sportsbook generates from bettors’ losses. You can calculate this by subtracting the payouts from the handle. For instance, if you have a handle of $5,000 for the day, and you have to pay out $3,000, then revenue is $2,000 for that day.
- Hold Percentage. The hold is also what is known in the industry as the win percentage or win rate. This refers to the percentage of the handle that the sportsbook retains as revenue. You can compute for this by dividing the revenue by the handle and multiplying by 100. But since you are using a sportsbook pay per head software, you can get this detail from the reports.
- Payout or Winnings. This is the total amount of money that you pay out to winning bettors.
- Net Win/Loss. After you get the gross revenue (handle minus payouts), you need to also take into account the other expenses you have to run your sportsbook. Here, the net profit or loss for the sportsbook, is calculated by subtracting your expenses (such as operating costs, marketing expenses, payout fees, and so on), from the revenue.
Your sportsbook software can generate other statistical data you may need, such as betting activity, wagers in each event or per sport, and so on. Ultimately, if you want to see the financials and the bottom line of your business, then these are the indicators that you need to monitor regularly.