MOST FREQUENTLY ASKED QUESTIONS FOR ONLINE BOOKIES
FIRST TIME BOOKIES
First time in the game? Relax, we got your back! Our array of functional online tools and good old-fashioned customer service will get you running out of the gate. Skip the learning curve and make mad cash from day one.
WHO CAN BECOME AN ONLINE BOOKIE?
Absolutely anybody motivated can get into this lucrative business. Of course, if you want to become a bookie and maximize profits, there are some things that can improve your odds.
· Educate yourself on sports. If you have basic knowledge, branch out and learn about international sports too.
· Bookies usually start out as bettors first. So. get a basic understanding of sports betting.
· Study the gaming industry and familiarize yourself with the online bookie tools. Set it and forget it does not make for a successful business.
· Learn to love networking. The more you reach out to people the deeper your contacts become. This leads to more business and opportunity.
WHAT IS PAY PER HEAD?
The Power Pay Per Head method allows you to pay a small weekly usage fee for each active user. It was devised so any experience-level bookie can stay competitive in the industry, whether you have 1 or 1000 clients. Most online bookies have players more inclined to bet on certain sports over others. With pay per head, you don’t get burdened with overhead expenses after those sports seasons have concluded.
HOW DO I MONITOR CLIENT BETS?
Power Pay Per Head issues you all the tools to oversee all players’ wagers, history, and balances. Long gone are the days of hand-writing tickets and using a calculator to add up the totals. Our software allows for live updates of client weekly figures and bets as they are made. There is even an option to receive bet alerts via email if you’re tied up with personal matters.
HOW DO BOOKIES GET BETTING ODDS?
The short answer is to hire Power Pay Per Head to do it for you! We monitor the world’s major sportsbooks and take a weighted average to get an accurate line. The gaming industry today is mostly lock-in-step with similar betting odds. If one major sportsbook sets a line or makes a drastic move, most others are following suit. This standardization works well on a national, wholesale level and sets a good base for any online bookie.
However, many of you will start out with a more regional clientele base and may need a way to personalize odds and keep unbalanced exposure to a minimum. That is why Power Pay Per Head has all the charting tools to keep you informed of games with heavy betting volume. This information allows you to act quickly and adjust those odds.
WHERE DO ONLINE BOOKIES GET PLAYERS?
With today’s technology and social media platforms, it is easier than ever to pick up bettors for your personal bookie business. There is no limit to the number of apps you can use to reach out to interested clients. And there’s no reason why you can’t do social networking while out on the golf course or visiting the stadium to watch the game live. Sports bettors are everywhere and, like you, enjoy taking part in the same activities as bookies.
HOW MUCH CAN I EXPECT TO MAKE?
Like any entrepreneurial pursuit, the outcome always depends on what effort you put into it. But the good news is, whether you want to do this full-time or as a side gig, there is room for you to find your niche.
CAN I PICK AND CHOOSE WHICH SPORTS I OFFER?
Absolutely! While having a variety of sports ultimately will increase your chances of picking up clients, it does not mean you have to provide every client with the same selection of sports and leagues. Our proprietor software features allow for individual sports or leagues to be hidden on any player of your choosing.
DO I NEED AN OFFICE OR EMPLOYEES?
Power Pay Per Heads business model allows you to be a lone ranger if you so decide. We have a manager staff on call to receive emails, phone calls, or texts and answer any questions or requests about your personal book. But that does not mean you cannot expand and hire people to help run your operation. There are always tasks that we cannot help you carry out. It is those cases where a helping hand can grow your business exponentially. As far as having an office, that is a personal question each online bookie must ask themselves. But many do this on their own from the comfort of their own home.
WHAT CAN I EXPECT FOR A WORKING SCHEDULE?
Traditionally, this is not a 9 to 5 job. Much of what will become peak business hours is dictated by the game schedule. When there are sporting events, expect to be busy, including the weekends. But every bookie must set some limits. Sports betting is a 24/7 enterprise. You’ll quickly learn no matter how dedicated; no man can work all hours of the day. Establishing periods where you respond to clients will lay clear boundaries from day one. If you and your bettors are on the same page, you can have a long and fruitful relationship for years.
WHAT DOES “VIG” STAND FOR?
The vig, or in street terms “juice”, is short for vigorish, which is a type of interest charged to sports bets. This extra charge tips the scales in favor of the house holding a winning percentage over the long haul. Typically, the vig is 10% of the wager, but that can be adjusted to your liking.
WHAT IS A STRAIGHT BET?
A straight is the most basic type of bet that consists of selecting one single market to win or cover the spread.
WHAT DOES COVERING THE POINT SPREAD MEAN?
A point spread refers to a type of handicap that is used to create a level playing field for two teams with different skill levels. The better team is labeled the favorite and carries a negative number of points it must surpass or “cover” beyond just winning the game in order to win the wager. The weaker team is termed the underdog and is given points used in the final score. If the favorite wins by more than the set handicap, they “cover the spread” The underdog must outright win or lose by less than said number to cover and be the winning side.
WHAT ARE MONEY LINE BETS?
Money line bets are popular bet that doesn’t use handicapping to formulate a point spread. Instead, the teams are picked merely to win the game. In the case where one team is far superior, the money line reflects this disparity by charging more money for a winning payout. Conversely, the underdog will pay out a higher return given they aren’t expected to win.
An example of a money line could be:
New York Giants -350
Dallas Cowboys +290
In the US, the odds are displayed in $100 increments. To win $100 on the Giants would require a $350 risk. A Cowboy’s wager could be made risking $100 to pay out $290.
WHAT IS A PARLAY?
A parlay is a set of multiple straight bets that must all win for the wager to pay out. Because of the increased difficulty, the payouts can be quite high. The chance for bigger returns makes them a popular choice among novice gamblers. Bookies should be cautious with their parlay offerings, though. While they aren’t considered smart bets, sometimes lady luck falls on the players. One parlay win can undo a week’s worth of straight bet losses.
WHAT IS A TEASER BET?
A teaser is best described as a parlay with modified handicaps for each selection. The player will make his normal spread picks but get a fixed number of points reduced (favorite) or added (underdog) to each choice. The difficulty is less than its similar parlay and consequently, the payout is less. This wager type is predominantly used in spread-dominant sports like football and basketball.
POWER PAY PER HEAD TOP FEATURES
Without online software, bookies would not be able to meet the demands of today’s fast-paced gaming industry. Take a glance at our top tools and learn to maximize profits.
WHAT FEATURES SHOULD I MARKET?
Besides having a modern online betting site suitable for any electronic device, your service must have an instant response time. And nothing says innovation more than VIP Live Wagering. Today’s player demands to have betting options on major sporting events right up until their final exciting moments. And even though online apps will service your clients 99% of the time, never underestimate the value of traditional customer service. That’s why having a 24-hour-a-day call center available will really set your business apart from all the rest. Whenever an issue arrives, rest easy knowing Power Pay Per Head will be answering that call at 4 am in the morning.
WHAT BOOKIE AGENT TOOLS CAN BEST PROTECT ME?
Any service worth its salt will have a host of features to keep you notified to sharp bettors and take appropriate action. Some of the top tools include:
· Analytical computation that calculates the potential return of the Expected Value of a single bettor based on his style.
· Sharp bettor alerts, whether it’s just an email alert of a large wager or players getting line value on their picks.
· Bot Blocking technology that keeps clients from trying to game the system with website crawling software.
· Vigorish adjusting tools that allow you to charge extra interest to players on a sport-by-sport basis.
WHY SHOULD I USE ONLINE MOBILE PAY PER HEAD SOFTWARE?
The simple answer is that mobile apps can do the job of thousands of people. Instead of being on call all hours of the day; take advantage of our team at Power Pay Per Head and all its online bookie tools. By using modern software, you can increase overall business exponentially.
HOW ARE WAGERS PROCESSED AND BALANCES CALCULATED?
All the hard work happens securely within your platform services. From taking wagers, processing the scores, and adjusting each client’s balance, the precise account details are handled without you lifting a finger. Your only tasks are to set credit and bet limits.
DOES ONLINE BOOKIE SOFTWARE OFFER REPORTS?
Most software providers offer online reporting, though not all are created equal. The best services furnish the standard weekly balances and pending bet listing reports as well as analytical features, which break down weaknesses unnoticed by the human eye. Be sure your software of choice has a good dose of these tools.
HOW DOES LIVE BETTING DIFFER FROM TRADITIONAL BETTING?
Traditional betting or pre-game betting is done days before the game officially starts and right up to tipoff. Typically, bettors stop all wagering and sit to watch the game and root for their plays. They only resume activity for halftime when new betting lines are posted. Live wagering, like that of Power’s VIP Live Betting app, takes things to a whole new level. Instead of encouraging the player to stop wagering, our live betting offers market odds throughout the game. The result is increased bet volume and a more profitable bottom line.
CAN THE DIGITAL CASINO IMPROVE MY BUSINESS?
Our 24-hour casino gives your players a lowkey way to keep betting even after the day’s big games have come to an end. Many times, bettors get wound up from all the excitement and need a way to cool off the evening. Throwing a few bucks down on blackjack or the craps table can provide the right mix of risk and relaxation. Our online casino is also a great supplemental offering during the offseason of the more popular sports.
CAN I OFFER HORSE RACING WITHOUT GIVING OUT TRACK ODDS?
Definitely! In fact, Power Pay Per Head generally sets up its bookie clients with a capped payout structure for major racetracks. This keeps you from logging into your dashboard and being surprised by an astronomical trifecta payout. Of course, your clients might be more than recreational horse bettors. In that case, having track odds payouts isn’t an issue if you’re getting serious horse bettor action. Either way, the choice is yours!
HOW CAN I MOVE MY OWN LINES?
Betting lines are the foundation of any sportsbook. It’s no different for online sports bookies. That’s why our agent backend has a few tools to allow for line customization. These are features that can really make or break the bank.
· Complete control with our Line Mover chart. If you know your customers, you often have an idea where they will place their bets. You can pump up the local team to any number your heart desires. You can also use our “follow” detail to allow your lines to keep pace with the normal movement keeping the original difference you pre-set.
· Access to an Odds Adjustor that fine-tunes the juice automatically for any sport of your choice. You can even single out any period you like, for example adding a 5% surcharge for any second half.
· Manage Money Lines that permit a cap setting for money line odds on any given sport. This feature is useful when dealing with parlays where bettors try and stack high payout teams for that lottery-ticket-like win.
CAN I GET A PERSONALIZED WEBSITE?
The best online bookie software will have multiple websites available for aspiring agents to choose from. For those more established and ready to take the next step, a customized website can be spun up in a matter of a day by a top-end developer like those at Power Pay Per Head.
WHAT IS THE HOLD PERCENTAGE AND WHY IS IT IMPORTANT?
A bookie spends his time analyzing numbers and trends that can help him improve profitability. One important figure that helps determine true winnings is the hold percentage. Hold percentage is the amount won or lost divided by the total dollar amount wagered. It may seem insignificant but winning even 3% of the total volume is a good return, especially over the long term. It’s easy for a small sheet of players to rack up six figures in bets in a single weekend. Holding a modest 3% would be several thousand dollars. Average that number over 52 weeks and you can begin to see how lucrative this business can be. Hold percentage is a black-and-white figure that lets you know if a bettor is making you a profit or if you need to cut them loose.
CAN POWER PAY PER HEAD HELP MOVE MY PLAYERS OVER?
Yes, we can. We can copy your entire sheet from the subagent hierarchy, player logins/passwords, limits, and any pending wagers. The length of time to complete the process can vary, but generally, you can be up and running in as little as a single day. The only task on your end will be to notify players of their new website. Contact us today to get your bookie software upgrade started!!
WHAT IF I HAVE AN ISSUE AND NEED TO SPEAK WITH A CUSTOMER SERVICE REP?
When you run a 24/7 online bookie business, you’ll eventually need to speak with a member of our customer support team. We understand circumstances may dictate a need for a private conversation. That’s why we’ve created multiple contact methods to reach our team, including:
· Two of the leading encrypted messaging apps
· Encrypted offshore email
· Toll-free telephone line
With multiple communication methods available, there is always a quick solution for any need.
INSIDE THE NUMBERS
Earning the most profit from your labor means getting inside the numbers that lead to a healthy business. This section answers ways to achieve that and capture new players.
WHAT CAN I EXPECT TO PAY FOR ONLINE BOOKIE SOFTWARE?
The pay-per-head model of paying a weekly fee for each active client is the gold standard of the industry. But pricing from one pay-per-head site to another can vary drastically along with the quality of service. Most services use a pricing tier that will lower your rate as your active client count increases.
Power Pay Per Head is no different. We offer competitive rates without upselling top features like our VIP Live Wagering or personalized customer service. When we set a rate, you’ll receive all the tools necessary to compete with the best. Contact us today to get a quote.
ARE THERE ANY DISCOUNTS OR REBATES FOR POWER PAY PER HEAD’S SOFTWARE?
New bookies agents can expect to get a complimentary free week or two. Long-term clients in good standing take advantage of our rewards system for exciting prizes or discounts on service fees.
WHAT ARE SOME GOOD PROMOTIONAL TOOLS FOR MY PLAYERS?
Our internal messaging system offers a great platform to notify players of upcoming events or promotions you’d like to reference. You can quickly write a message to all your clients and have them take advantage of your offer. Power Pay Per Head also does weekly banners listing major games on your home page. Whether you use one of our pre-built websites or your own custom design, our development team will keep your player in the know.
HOW CAN I PROMOTE PLAYER ENGAGEMENT AND INCREASE WAGER VOLUME?
Incentivizing your current players to bet more is a tried-and-true technique for lasting success. There are times when clients get on a winning streak. The way out is increasing their volume of betting. Outlier win percentages tend to balance themselves out as more bets get added to the equation. Offering all sports and leagues is a great way to increase a player’s interest. Even if you are uncertain about a sport because you aren’t familiar with it, your client may be a huge fan. Allowing even small limits keeps him committed to placing bets.
Another option that awards losing players and gives a psychological boost is to offer free plays on a weekly basis. Everybody loves getting something for free and it lessens the blow right after they just settled their debt with you.
HOW CAN I GROW MY CLIENTELE BASE?
Sports wagering is no longer a social stigma as in years past. This means your pool of potential clients is limitless. Much of your recruiting techniques will depend on your lifestyle and personality. But the possibilities exist from any gathering of people, sporting events, professional connections, and even social media platforms. Although the latter may require more vetting.
You can also put your existing clients to work and do the recruiting for you. Free plays and juice rebates can be two incentives you provide any client that can bring a quality referral onboard.
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