One of the biggest reasons why you set player limits in your sportsbook pay per head is to ensure that you are earning from your players. Most that are new to becoming a bookie may think that this is to limit the amount that goes around in your sportsbook, therefore minimizing risk on the bookie. While that is true, there is a lot more at stake that just trying to set the maximum amount you can potentially cover.
If you want to be a successful bookie, you need to understand your players well. This means that you will learn how to profile your players based on their wagers, the frequency of their wagers, and other factors. Their behavior can tell you if they are your average sports bettors, or if they are sharps, among others. What and why are we looking for certain signs? Let’s go through some of the reasons why you need to monitor your player limits.
Sportsbook Pay Per Head Player Limits
With the best bookie software, you gain the ability to customize the limits of each player. The limits you set will depend on a lot of factors, and here are some things you should keep an eye out for:
Arbing. Arbing is short for Arbitrage. This happens when a player will place bets on both outcomes of an event if there is a large gap between the odds of two sportsbooks. This is most noticeable by the amount that arbitragers bet. Since they are professional gamblers and will compute the risk down to the last decimal point, their wagers will come across as weird. More often than not, players would bet $10, $50, $75, or any rounded number. Arbitrage bettors will have a trend of betting with weird amounts, even something like $15.77. If you notice a player that has wagers with weird amounts, consider checking their activity more.
Sharps. Sharps are professional gamblers who tend to win a lot more than usual. The more players win, the more the bookie loses out on income. Of course, your players will enjoy betting on your sportsbook if they win. But if they win too much, sharp or luck, it could catch your attention, and could lead you to decreasing their limit, or removing their accounts altogether.
Promotions-only wagers. As a bookie, you will be offering different ways to get your players to bet more. Usually, you can offer free bets, or a credit amount. Some players tend to lurk around for offers and will only bet when you offer them a bonus. You are less likely to earn from this particular type of player, so be wary of this type of bettors.