With the growing number of online bookies, you need all the help and skills you can get to run your bookmaker successfully. At Power Pay Per Head, we want our bookies to lead the pack. That is why we continually share numerous bookie tips to keep you informed and updated with guidelines that will help grow your business.
Today, you no longer need to run your betting business hiding at the back of a warehouse puffing some cigars and threatening those who do not pay their debt. Instead, you can take your business online and make it legitimate. Here are five bookie tips you need to launch and run your betting business online.
Have What It Takes To Become A Successful Bookie
Anyone would be tempted to become a bookie after looking at the revenue generated by sportsbooks. However, not everyone is cut to become a bookie unless they are willing to learn various skills and use the right tools.
Therefore, find out whether you have what it takes to become a profitable bookie. Ensure you have the skills needed to run a sportsbook and are willing to learn more as you go. For example, you need excellent communication skills to lure potential clients.
Clients will wonder how you run your betting business if your communication skills are questionable. You also need great marketing skills. With these, you can advertise your business and entice clients to wager with you.
A lack of excellent marketing skills means no one will ever learn about your betting business. But, if you have good marketing skills and are willing to learn and practice new acquisition methods, you will easily create a client base and expand it as you see fit.
You need to know some mathematics too. While you do not need a degree in mathematics to become a successful bookie, those with degrees are likely to perform better. So, make it your goal to learn various topics in mathematics.
Apart from addition and subtraction, ensure you know how to calculate probability and create odds. This knowledge will help determine the ideal odds and create competitive betting lines for your clients. Pick other bookie tips on the go and practice them until you settle on those that work for your betting business.
Always Work With A Pay Per Head Provider
Pay per head is a solution allowing bookies to take their business online. The provider gives a bookie sportsbook software in exchange for a weekly fee for each bettor that uses the software. Thanks to these solutions, bookies do not have to sink into debt or use all their savings to develop a website and buy sportsbook software.
Here is how the pay per head works:
- Contact the company by calling or filling in the contact form provided
- Get logins for the pay per head and test the product
- You can log in as a player and bookie agent to analyze how each end looks.
- Confirm the software has the necessary bookmaking tools
- Create accounts for your players and invite them to place their bets
- Analyze how the website works when the traffic is high
- Ask your clients to test the quality of customer service and give feedback
- Get betting lines from your provider and adjust them if you need to
- Take wagers and pay winners
Working with a price per head has many advantages. For example, the provider will set your betting lines. Another advantage is that the service is not expensive.
Working with a pay per head is one of the greatest bookie tips you can take advantage of. It makes bookmaking easier, possible, and fun. For example, you will never have to worry about updating your site or software because the provider has a team working around the clock to ensure your product is up-to-date.
The provider will also ensure that betting lines are up on time. That way, your clients can scroll through the market and choose their preferred options to wager on before a game kicks off. Notably, your clients can also wager on live in-game markets.
Offer More Than Sports Betting
Bookies can offer more than bets on basketball, football, soccer, tennis, baseball, and hockey. As a bookie, your goal is to increase your player base, grow your business and make profits while making your clients happy.
Therefore, you need to offer more than the basics to keep your clients interested. Ensure your sportsbook has all the expected betting markets. This includes most National Football League events, basketball, baseball, and other popular sports in the country.
By following these bookie tips, you can broaden your perspective and incorporate international markets. Start by introducing Canadian sports wagers, and then gradually expand your offerings to include popular betting options such as soccer, political events, celebrity happenings, the Olympics, and more.
Apart from that, you can offer digital and live casino games. Ideally, give your players options. This encourages players to try out new things.
For example, offering digital casino games allows your players to test slots and table games. Their experience will drive them to try more engaging games such as live dealer casino titles.
You can also activate the racebook platform to allow players to wager on horse races in North America, Australia, and the UK. You can choose when to turn on your racebook.
For example, you can turn on your racebook if you want to offer bets during the Kentucky Derby. You can keep it off during other events, including the Breeders’ Cup, Triple Crown Season, Preakness Stakes, and Belmont. Ideally, you can choose what to offer or not.
Take Advantage Of The Pay Per Head Customer Support
You could use some free time from picking up calls from your clients all day and night. Customer service is crucial for any bookie looking to grow their business. Clients need to know they can reach you as quickly as possible and get solutions to their issues immediately.
Unfortunately, you cannot offer customer support 24/7 on your own. You will get tired even before the day is a few hours in. Fortunately, you can work with a pay per head provider.
Working with a pay per head provider is one of the best bookie tips you cannot ignore. Apart from betting markets, IT support, and expertise, price per head providers offer customer support.
Your clients will love the quick responses offered by professional customer agents 24/7. Bookie agents can also get support.
Balance Your Books And Continually Enroll Novice Bettors
Other bookie tips you could use are balancing your books and continually enrolling novice bettors. These two tips will grow your sportsbook beyond your expectations.
Working with a pay per head shop reduces your responsibilities as a bookie. However, you should strive to balance the books yourself.
For example, you could be making a great handle. However, when you subtract what your pay per head provider is making from your profit, you might find your business is making less money.
Therefore, use wager alerts to follow betting action and balance your books accordingly. You also need to use a layoff account to protect your bankroll.
Apart from that, find novice bettors. These are likely to make bad bets, ultimately losing money to you.
These top five bookie tips can help run a bookie successfully. In summary, you need the skills and knowledge to run a bookie, partner with pay per head provider and offer casino games and horse racing bets. Remember to take advantage of customer support offered by your pay per head provider to find new clients, and balance your books.