The right bookie service will change any bookmaker’s life.
Building Your Weekly Betting Handle
As a private bookie, you need a certain level of weekly action tied to a high enough hold percentage to reach the monthly financial goals you have set for your business. One without the other will result in a smaller bottom line than projected.
The handle relates to your total betting volume, or players and their bets. This betting level is directly tied to your active betting base. The pay per head business model for bookie software solutions is based on a weekly fee charged for each of your active betting customers.
If you have 10 active customers at $10 per head, your weekly pay per head cost is $100. Expand bookie revenue streams to take your business to the next level.
Since most of the top rated pay per head sites offer a comprehensive bookie services package around $10 per head. You need to generate a weekly handle that maximizes the potential of each betting customer.
Use the Right Bookie Service
You can employ betting and credit limits through the use of pay per head customer profiles to ensure that none of your betting clientele is exceeding their betting bankroll. However, you can also use your pay per head’s expanded betting menu to add as many betting options as possible to your individual betting board.
First off, you never want to risk losing even one sports bet on something that was not available on your board. Second, you want to ensure that the variety of betting options offered encourages your betting cliental to expand the range and scope of their overall sports betting strategy.
Your weekly pay per head fees are always going to be one of your biggest costs of doing business. By signing on with the right bookie services provider, it is easy to add some genuine value to that cost.
Building Your Weekly Hold
The best business strategy is to build your weekly handle without increasing your customer base. It is far more productive to have 10 players betting $1000 a week than 100 players betting $100 a week. The handle is the same but your pay per head cost will be 10x higher.
The other big part of the equation is your weekly hold percentage. This is the difference between the money paid out on winning bets and the money plus commission (juice) collected on losing bets.
The big commercial sportsbooks average anywhere between 5% and 10%. Anything over 10% will provide an excellent return on your handle. Anything less than 5% is cause for concern.
Expand Your Betting Board at the Right Bookie Service
It is important to calculate a weekly hold percentage through a specialized pay per head business analytic. Your private sportsbook depends on it. You can roll these numbers up on a monthly basis to gain an accurate picture of your bookie operation’s average hold.
Diversity in wager types is equally important as offering an expanded betting board. You are going to make more money off parlays than straight-up bets. By adding a few parlay boosters to the mix, you can increase your hold on those types of exotics.
Expanding into live in-game betting is another way to enhance your weekly hold. Prop bets and betting futures also offer a better return than straight bets on the spread and total. Money line bets can also work in your favor when they are a bigger part of the overall betting mix.