Every business’ goal is to grow and create wealth. Usually, wealth is measured by the profit a bookie business retains after subtracting all expenses. This includes subtracting players’ winnings and fees for the pay-per-player software you use.
Several factors can determine how much you will retain as profit when you subtract running costs. For example, if you offer sports betting and another sports betting, casino, and horse racing bet, the latter bookie will likely accumulate better profits than you.
This is because the second bookie has several channels to boost his weekly handle. If this bookie does not pay any added cost to run a casino and racebook, he will remain with a significant profit than you.
Ideally, your net profit is tied to the pay per head (PPH) software provider you use. This is because the provider offers you tools to grow your bookie business in return for a weekly or monthly fee from your gross hold percentage and gross profit.
The Value Of Pay Per Player Software Tools
Before you buy any pay-per-player software tool, you need to understand its value compared to what you pay. You can do this by looking at what is included in the product or service you are buying.
For example, Power Pay Per Head has engaged experts in developing a proprietary software solution that runs your bookie business online. This package includes a sports betting platform, player management tools, payment solution, action tracker, layoff account, and customer support. You can ask for other elements such as Premier Live, Premier Casino, Premier racebook, or customized website.
Understanding what you are getting helps you realize the value of your money. Often, start-up bookies go for cheap PPH software.
While this software can take your bookie business online, the low cost might not cover several services and features. For example, you can get software for $3 per week for each active player. But, this price might not include features such as live betting, live streaming, professional line setter, IT specialist to come to your rescue when a bug hits your platform, and so much more.
If you plan to use Power Pay Per Head services, you will learn what each package entails before investing your money. Moreover, you will get a free trial and a video demo to understand how our software works and how much value it offers.
Increasing Your Profit With PPH Software
There are several ways you can maximize your profits with PPH software. Here are some ideas:
1. Operating A Full-Service Bookie
Today, avid players want to look for a stop platform for all their gambling needs. Instead of opening a different account for a sports betting, casino, and racebook, they want a platform that combines the three into one. That way, they do not have to remember three passcodes or log-in information for various platforms.
If there were no possibility of combining the three platforms into one, you would need to run each individually. Fortunately, you can have all three products under one platform thanks to pay per player service. This service gives you the same competitive edge as a big commercial sportsbook offering sports betting, casino gaming, and horse racing bets.
With the right PPH software, your clients do not have to look elsewhere for their gambling needs. Instead, it should be turnkey to implement and comprehensive in its design. That way, you turn your bookie business into a full-service gambling site with all competitive features similar to commercial sportsbooks.
The good thing with adding a racebook and a casino platform to your sports betting platform is that you increase income without necessarily increasing the pay per player cost. When you increase your weekly betting handle without amassing your active betting base, you get maximum value for your PPH sportsbook services.
Moreover, having platforms that engage bettors throughout the year is suitable for your business. Bettors will continue playing casino games and horse racing when most sports betting activity is minimal. This fills the seasonal voids integral to sports betting which affect net profit or overall cash flow.
2. Picking The Best Clientele
The PPH fees you pay every week are one of the highest costs you incur as a private bookie. But, if you are using the best software provider, maximizing your profits should not be a problem.
You can quickly raise the weekly fee by choosing the ideal clientele. For example, you can choose ten clients betting $1000 each every week instead of dealing with 100 bettors placing $100 bets each a week.
With the help of a pay-per-player service provider, you can grow your clientele base as you build your handle per bettor. So, if 100 loyal clients bet $1000 each week, you would get $7500 if the profit base is 7.5 hold percentage. Then, you need to subtract $1000 for the PPH fee, assuming the service provider is charging you $10 every week for every active bettor.
3. Remove Unwanted Risk
Several things can drain your profits. These include allowing bettors to place bets without limitation, having bad debts, and working with the pay per head site that is unsuitable for your business.
By removing all these risks, you can bounce back to making profits. First, you have to notice how your bookie is performing by analyzing how daily or weekly betting action is going and how much you spend to settle players’ winnings.
Another thing you have to do is set credit and betting limits for each player based on how much they spend on your platform and the times they have won. Setting the limits minimizes the chances of losing huge sums of money.
Having a layoff account is another way of eliminating unwanted risks. You can use this account to place a bet and use the winning to pay clients that placed bets on your site.
Grow Your Profit With PPH Services
Pay per player software solutions can help you grow your bookie by getting a significant handle each week. With a comprehensive sports betting platform added to other revenue sources, including casino gaming and racebook, you can get your profits soaring high. Contact Power Pay Per Head and get your software.