Making a profit as a bookie is all about the sports betting handle your sportsbook takes in every week. The bigger it is, the more profits you stand to gain from the VIG or commission. However, it is easier said then done as every sportsbook is different with different types of bettors. While the bookie will be responsible for the majority of the work, there is a service that can help. In this tutorial, we will teach you how to Use a Pay Per Head to Increase your Betting handle.
What is the Sports Betting Handle? A sports betting handle is basically the total amount of money that gamblers bet in your sportsbook. While it may seem like a simple concept, achieving a large betting handle is a different story.
Contrary to popular belief, having a large number of players does not mean having a large betting handle. In fact, some bookies do quite well with just 10-30 players. In the end, it is all about how much each player wagers every week.
While knowing how to increase your sports betting handle is necessary, having the right tools is just as important. This is because every bookie is different and have different types of players. Therefore, you have to entice players in a different way to make them bet more often and risk larger amounts. However, before you can do that, you first need to sort and identify each player. From there, it is just a matter of creatin the right sportsbook campaign for each group.
This is where using a Pay Per Head company like PricePerPlayer.com can help increase your betting handle.
Use a Pay Per Head to Increase your Betting handle and Hold Percentage
Building your Sports Betting Handle with the Right Sportsbook Management Tools
To build your sports betting handle to the right level, it must first have the following tools, features and options.
Sports Betting Market– A player will leave if you do not have the sports they want to bet on available. Therefore, a good pay per head will have a wide array of betting odds and management options.
Identifying players and sorting them into Groups – Players bet differently and have different preferences and quirks. Once a bookie knows what each player likes, enticing them to bet more is easy. This is because they can create more promotions for them and show them more coming-up wagers that they like.
For example, if a player likes to bet on NBA underdogs at +6 or over on the spread. Then the Pay Per Head software can group these players and show highlight NBA underdog matches that fit these criteria
Starting and operating a sportsbook can be as easy or as difficult as you want it to be. Difficult means doing everything by hand without any tools to help you. Easy means using a sportsbook software that takes care of the betting lines, banking, player management and reports. In addition, good software will even provide a sportsbook platform for players to place their wagers.
Improving Your Sportsbook Hold Percentage with a Pay Per Head
The hold percentage for a bookie is a very thin line between a profit and a loss. This is because bookies usually do not hundreds of thousands of players. Therefore, a 1-2% loss in the hold percentage can mean a loss in profit. This is where having the right kind of reports and tools can improve their hold percentage. Thus, look for a PPH that have these tools and feature:
Sports Betting Odds Management –Bookies must be able to respond to any change quickly and accurately in the way the bets are going. if they are not able to respond quickly to the change in betting sides, bookie will lose money. Therefore, you want a PPH service that has an odds automation system and odds manager checking the lines at all times. If you are confident in your odds setting skills, look for a service that allows you to manually the odds.
Keeping Players in Check – Having sharp players that bet a lot is a good thing In most sportsbook. This is because they tend to wager thousands of dollars every week. However, for smaller bookies, this can be problematic if you do not have enough players to even out each side. This is where being able to identify these players and putting limits on certain sports or type of wagers is imperative. Thus, look for a Pay Per Head Service that can identify these players and put limits on them.
Call us at 1-866-500-4934 or email us at [email protected] for more details