Becoming a bookie today is easy and cost-effective. But, it takes a lot more to become the number one pay per head bookie in your city.
Unfortunately, you cannot become a top-rated pay per head bookie in your city in one night. But, working consistently towards it will eventually get you to the top place. Thus, as we share six tips on how to become the go-to bookie in your city, remember to practice them every day.
Choosing The Best Bookie Type For Your City
The first step in becoming the number one pay-per-head bookie is choosing which bookmaking route you want to take. For example, do you want to become an online, on-course, land-based, or a combination of these bookmakers?
Suppose you live in Kentucky, whose Horse Racing Tracks industry market generates over $3 billion annually. You are likely to choose to operate an on-course bookie in one of these tracks if you had the chance and earn some of the dollars circulating in the Horse racing market in Kentucky.
When you decide to open a betting shop, you will need more money to rent a shop, hire a team, and apply for business permits. Running an online bookie seems like the best choice.
It is cost-effective and attracts a large crowd. Moreover, you must be conveniently accessible to residents across the city, and being an online bookie is the only way to make it happen.
Learn The Skills Required To Run A Bookie Business
One of the advantages of a PPH bookie is the team behind it. It comes as a complete package comprising oddsmakers, customer representatives, and IT technicians. If you wanted to, you would never log in to your platform.
But, considering you want to become the best bookie in your town, you have to put in the work. Part of this means learning how to create odds, calculate your hold percentage, analyze news injury information, and real-time happening in a game, and adjust the odds based on your analysis.
You also need negotiation, management, and customer service skills. The first skill will help you convince clients to bet with you.
As for management skills, you need them to operate your bookie efficiently.
While the pay-per-head bookie comes with a centralized call center, you need customer service skills to initiate new clients. A personalized service encourages clients to sign up with you over any nationally recognized brand that automates responses.
Unlearn The Myths
When you look at any CEO running prominent sportsbooks in the country, you guess they had it easy. But, that is not true. It took them all the hard work to put their brand on the global market. However, they had the advantage of working with professionals in various fields for brand awareness and everything in between.
As for you, you have a pay-per-head provider as your partner. Unfortunately, the service provider cannot perform some tasks, such as finding new clients. Ideally, you need to unlearn that running a bookie is easy and understand that it takes some work.
Another myth you need to unlearn is that a high roller is better than a standard player. Suppose you have a player betting over $50,000 in one game. If they win, a payment processor might require you to release his winnings in installments.
Some banks do not process 50 grand cash randomly. They might flag a transaction, something no one wants to deal with.
You are more likely to have a smooth relationship with players depositing $100 or $200. The point is, do not partner with clients that are likely to cause you trouble despite them having big banks.
Use A Reputable And Top-Rated Pay Per Head Provider
This point seems obvious, considering we are discussing running a pay-per-head bookie. But, there is more to it than the name.
For starters, there are many PPH providers. Some are good for you, while others are average. The provider you choose determines whether your services are mediocre or exemplary.
Here are some of the things to look for in a PPH provider before you can sign up for its services:
- User-friendliness of the betting platform
- Sports betting offering
- A casino platform
- A racebook
- Customer support
- Intuitive reports
- Types of bets
- Cost per player
A pay-per-head bookie featuring these qualities is bound to succeed. For example, bettors will have no problem placing bets or navigating through the site if the platform is user-friendly. Therefore, they will stick by you.
Also, if you have a vast betting market, you can attract more clients. Suppose you only offer bets in soccer. You will miss out on all the National Football League (NFL) revenue because you do not provide it.
A casino and racebook are supplements for your revenue generation. If you look around, most of the brands you know for sports betting are adding a casino into their main software. Today, players prefer to share their information with one betting site.
Moreover, having more than one account means having multiple logins, which you must remember, or else lose your funds in the account. With one login, a player can log in to their account, wager on sports, and horse races, and play casino games.
You need intuitive reports to make decisions for your business. Suppose a report shows that you are losing money.
You can look at the hole draining your money and mend it in time. Another example would be offering customized betting markets for your best bettors based on their reports.
Risk management is a crucial part of being a number one pay-per-head bookie. Without it, you are just a bookie making losses one after another with no chance of expanding your business across your city.
One of the ways of preventing risks is lowering the wager amount. This tip is helpful during your first few months. During this time, you can learn about your clients.
Suppose a professional bettor signs up with your bookie. He is likely to make many accurate guesses and win matches. If he places a big bet you cannot afford to pay, you put your business at risk.
However, you remain in control when you lower the bet limit and thus the maximum payout. You can expose your business up to the point you are comfortable or tighten the ropes when you need to. Considering that you can manage clients on a player-to-player basis, limit every new customer until you learn their betting habits before adjusting their settings.
Another way to minimize business exposure is using a layoff account. This is an important tool for every pay-per-head bookie.
It comes in handy when balancing your book by placing a bet with another sportsbook. Sometimes, adjusting the odds to encourage players to bet on one side cannot solve unbalanced books. When a bookie experiences steam or sharp bet, he can bet the same amount on another bookmaker.
Then, you can use the winnings to pay the winners in your bookie. In case you lose the bet, so will the players who made the steam bet. This means you get to keep the wagered money, replacing the money you lost with the other bookie.
Market Your Business
The other thing you need to do is market your bookie business. Unless you do, no one in the city will know about it.
Fortunately, there are several efficient ways you can market your pay per head bookie. Before you market your bookie, ensure it meets your target’s needs.
Usually, you need to highlight how clients will benefit when they bet on your platform. A PPH bookie featuring an extensive betting list, many bet types, a casino, a racebook, convenient payment methods, and secure appeal to clients. Once you can show these features, clients will join you without questions.
You can reach your client at a tailgating event, through referrals, or through social media campaigns. If your budget allows it, you can hire a team to market your bookie.
Become A Successful Bookie In Your City
Absolutely, becoming the most preferred pay-per-head (PPH) bookie in your city is a realistic goal if you diligently apply the information and strategies provided above. By focusing on user-friendly platforms, offering extensive betting options, and providing excellent customer support, you can attract and retain clients effectively.
Choosing a reliable and experienced PPH service provider like Power Pay Per Head is crucial for the success of your bookie business. With over 16 years of experience and a team of professionals who understand the intricacies of the industry, they can offer you the tools and support needed to excel in the competitive world of sports betting.
Remember, consistency, reliability, and continuous improvement are key factors that will help you build a strong reputation and become the go-to bookie in your city. By providing a top-notch betting experience to your clients and ensuring their needs are met, you can create a loyal customer base that will contribute to your long-term success. With dedication and the right tools from a trusted PPH provider, achieving your goals as a bookie is certainly within reach.