The sports betting industry is experiencing incredible growth, especially since the 2018 Supreme Court decision invalidated Nevada’s virtual monopoly on the practice. Sports leagues and states are now getting in on the action. Whether it’s sports, horse racing or casino gambling, everyone seems to want to get their piece of the pie.
The saying is that a rising tide lifts all boats, and it applies to independent bookmakers as well. While 20 states have legalized the practice, there are still more than that number where players need other options. Also, for whatever reason, there are still people who would rather go through a local bookie to place bets on sports.
With the advent of state sponsored sports betting and corporate online sites, times are changing for bookies. Even if their customers prefer the personalized services and flexible payment opportunities, chances are they’re checking lines and odds on websites and expecting those from their bookie.
It makes the bookie’s job more difficult, but there is an option that can keep them competitive with the big operators while still giving personalized service. One of the essential tools necessary for being in the bookmaking business amidst the growth in competitions is a Pay Per Head (PPH) software service.
Without a PPH service, a bookie has to manually log bets, talk or text directly with their customers and communicating lines and odds is difficult. Customers can’t place wagers if they can’t reach their bookie, so they may end up going elsewhere for action.
A PPH service provides online sportsbook services, with customer interfaces that look just like what they see from the major operators. All major sports are available for wagering, including NFL, NBA, NHL, Major League Baseball, college sports, soccer, NASCAR, MMA/UFC, golf, tennis and many others.
All of the popular wagering options are also offered, including futures, spreads, money line, over/under, reverse betting, propositions and even live wagering. Through the website, clients can place bets 24 hours a day, seven days a week. The PPH provider also offers online and phone customer support.
Although the PPH service sets the opening odds and makes adjustments up to the time of the event, the bookie can also customize their own lines. They have the ability to manage each individual account as well as sports and lines for their entire customer base. Without having to be personally involved in every bet, the bookie has more time to devote to ensuring the wagers they accept improve profitability.
The robust reporting allows the bookie to see their performance during a week, as well as for prior periods of time. They can use the system to put limits on particular customers, even including blocking them from additional wagering if the risk is too high.
The bookie can also see where they stand with betting activity for upcoming games, giving them the information they need to make adjustments to odds or lines. They may be out of balance with the bets on either side of a wager and need to take some action to promote certain wagering activity.
Since the bookie’s ideal position is having the same risk on either side of a bet, the reporting can help them see if that’s really happening. If not, the PPH provider usually has lay off services available, allowing the bookie to offload risky bets and focus on collecting their edge.
The financial tracking component of PPH software is crucial for the bookie to be able to know where they stand with each client. How much they need to pay out to winning customers and what they stand to collect are the essence of their business. They can see their financial situation at any point in time and take necessary action to stay ahead of the game.
The Price Per Head of using a PPH service is $7 to $15 per customer that places a wager during the billing period, usually a week. The more customers they have, the lower the Price Per Head. If a bookie is currently paying more than that, they may be paying too much for the service.
A great site to check out if a bookie is interested in learning more or to sign up for a cost effective solution is www.RealBookies.com.
Learn more about Pay Per Head:
Real Bookies Can Help You Reach Your 2021 Business Goals
Real Bookies Puts Competitive Pay Per Head Sites to the Test
Breakdown Your Active Betting Base With Pay Per Head