Clarity and control are two very important aspects of running and managing your own successful sportsbook as a private bookmaker. You need a clear picture of what is going on with each day’s betting action. You also need the right business tools to control that action in a way that protects your overall bottom line.
The top pay per head bookie software solutions providers have taken both of these factors into consideration when it comes to the turnkey package they offer. For one low weekly per head fee for each of your active betting customers, you will have the proper business tools to create a clear picture of your business with real-time analytics. You will also have a separate set of tools to act on opportunities as opposed to reacting to issues and problems.
Pay Per Head’s Role in Clarity and Control
One of the most important tools that help you gain a high level of clarity and control is the Open Bets Report. This is basically a summary of all the action that is currently on the table. As a way to really drill down into the information, you can also look at open bets on an account-by-account basis. From a control standpoint, betting and credit limits can also be put into place that span your entire sports betting customer base. These limits can always be further adjusted on an individual basis.
You never want to risk losing a betting customer unless they become more of a liability than their worth to your bottom line. You can control the limits up front with the ability to delete any individual bet deemed necessary from the information gathered on that open bet report.
The Bookie’s Role in Clarity and Control
The pay per head bookie software system is designed to provide seamless and steady information that takes any guesswork out of sound business decisions. The software and the reports it can generate perform all the heavy lifting. However, it is still up to you as the bookie to use this information as a means to gain insight into daily operations and gain control by staying way out ahead of things on a regular basis.
The right pay per head package should give you everything you need, when you need it. If that is not the case, then it is time to find a new bookie software solutions provider. However, you cannot blame your PPH service if you take your eye off the wheel.
Running and managing your own private bookmaking service is hard work that takes a high level of commitment on a regular daily basis. Given the volatile nature of sports betting, things can quickly go sideways if you are not on top of things. You first need to determine your overall tolerance level for risk. Only then can you take the proper measures to ensure that the daily, weekly and even monthly action you take in does not exceed that level.
Your Betting Customer’s Role in Clarity and Control
One possibly fatal business mistake some bookies will make is building a customer base that does not align with that set level of risk tolerance. If your goal is to work with a smaller base of big-money bettors, then you need to be able to handle higher levels of risk. Working with casual recreational sports bettor that becomes rather predictable in their weekly betting habits can lower that level of risk. However, you will need an expanded customer base to meet your financial needs.
Once you determine the type of betting customer best meets your business needs, you can then determine the proper marketing techniques to attract that type of bettor to your bookie services.