It’s a fact that online sports betting has grown into a multi-billion dollar business following the US Supreme Court’s decision to make pay per head service legal. No wonder many people, sports fanatics and gamblers alike dreamed of becoming the best pay per head bookie to get a slice of the pie. What is a pay per head bookie anyway?
What is the Best Pay Per Head Bookie?
Pay per head is a bookie software service company that provides service to a bookmaker or bookie who, in turn, provides a betting website for his players. In short, the pay her head company provides the service while the bookie takes bets.
Established or newbies who want to see their bookie business ascends, they must learn how to optimize their profits. They will require the help of a pay per head company to ensure the profitability of their bookmaking venture.
As pay per head bookie, your main goal is to make profits. However, you should not entirely depend on the silver lining that you have over most wagerers. You must completely understand how bookmakers generate money or you’ll end up shutting down your bookie business.
What to Consider Before Launching your Sportsbook Business?
Being a gambler with a passion for sports is not enough reason to launch a sportsbook business that easily. There are a couple of things that you need to take into account before launching your sportsbook business as a pay per head bookie.
Every pay per head bookie must understand that they need to have sufficient resources or reserves. You should be ready to fill in other possible expenses you may not be mindful of. With a pay per head company on your side, you don’t have to be bothered with other things such as employees, rent, and utilities. However, you still need to make sure that you have adequate funds to finance wagers when you lose.
Huge Number of Players or Bettors
It’s advisable that you start your pay per head bookie business when you have 10 players at the least. If they place their bets more than enough, you can already provide for the weekly fees you need to pay for the total number of your active bettors regardless of how many times they placed their wagers. If the weekly pay per head fee for each player is $10 and you have 10 players that bet more than once, then you can break even. You’ll have a handsome profit and if you want to earn more, go ahead and recruit more players!
Legitimacy of the Pay Per Head Company
Legitimacy is the foremost reason what holds back an aspiring pay per head bookie to pursue his career. It’s your responsibility to check if the company you will work with is authorized or licensed to operate. Using pay per head service will minimize the risk of exposing pertinent information processed online.
Designating your Lines Accurately
Once you have sufficient budget to support the wagers you take, the next thing you need to do is ensure a lucrative pay per head bookie business is to have sharp lines. You can either set the lines yourself or accept the lines your pay per head bookie service offers you.
Bad lines will draw bettors closely. You as a pay per head bookie, on the other hand, will lose a big amount of money in a flash when you get too much cash on one side.
Nevertheless, you should make it a habit to keep an eye on how much cash you’re dealing with games. A lot of money on just one side requires modification of the line to even your risk and to ensure profit from the “vig.”
Knowledge of the Vig
Vig is short for vigorish which is also known as “juice,” “cut,” or “take,” which is primarily a percentage that guarantees profit to a pay per head bookie. It’s Yiddish slang for the Russian word “vyigrysh” which means the fee that a pay per head bookie charges to his bettors for accepting and placing their wagers.
Pay Per Head Bookie Business Evolution
One of the significant advantages of using a pay per head bookie service is that players are provided with many opportunities to bet on different sports events. It would be much easier to boost your earnings after you’re stable enough to offer lines virtually on any sports you can think of.
A pay per head bookie can now accept wagers on more than one sports because of the advanced bookie software. These sports cover football, basketball, baseball, boxing, and other major sports events around the world including live betting.
You can also multiply your profits through straight bets, teasers, and parlays among others. These kinds of wagers are considered “sucker” bets due to their nature of being hard to win.
Flourish your business don’t forget to also increase your funds. Expand your bettor’s base but regulate the amount of bet you take to prevent getting depleted. You may offer other kinds of sports but manage your would-be bettors.
Monitoring of Things
Monitoring almost everything is one of the most demanding tasks an online bookie needs to deal with. Think about how many times you’re going to do this in a day for the whole week, month, and years. Fortunately, the pay per head service makes the tasks lighter and the bookies’ lives easier.
With just a click, you can see entirely what is happening with your online sportsbook business. Reports are provided daily so you can monitor the activities of your players.
Dealing with Sharp Bettors
Never let sharp bettors lead your online sportsbook business to bankruptcy. If you are an old or new bookie, chances are you will encounter this type of bettors whether you like it or not. Don’t get caught off guard because they will give a huge impact on your bookie business. They are the ones who make betting a living.
If you are just new to the industry, it would be best to deal with squares. These are players who just bet for fun, unlike sharps who do it professionally to earn income. Take notice of what they do so you will have an idea if you need to disable their accounts or not.