Take Advantage of Your Player's Potential

Sports gambling has changed over the past few years and changed quite drastically. There once was a day when gamblers did one of two things, they either called their corner bookie, or they flew to Las Vegas. Those days have long since passed, they have gone by the wayside as with phone calls! Sure people do still pick up the phone every now and then but more often than not, it’s used for social media or texting. Gamblers are the same way, every once-in-a-while, they will actually bet with the corner bookie or even book that weekend trip to Las Vegas, however, this is rare. As a bookie, you must know the hidden value of your players.

Gamblers today are online, this is where the action is, it’s where the best lines and odds are and it’s easy. The easiest way to bet on sports is online and betting on horses is just as simple. To boot—most online bookies are even adding an online casino to go along with the sportsbook. It’s a huge moneymaker. The question is, why would a bookie not do this?

Knowing your players is one of the key elements for success as a bookie. Every player has hidden value, have you found it in your players?

What is Hidden value?

Hidden value is what your players bring to the betting table that could be earning you much more profit than you are seeing now.

Know This: Sports gamblers love to gamble and not just on sports. Gamblers will gamble on anything “if you build it, they will come”. You must remember this concept.

Sports gamblers get bored! Really, they get bored and if you are not offering an alternative to their boredom, they will find another online bookie that makes them happy. Sports gamblers tend to not be very loyal. They like “flash in the pan”, they like good deals and they like to play on whatever they think will earn them the largest amount of money, in the shortest period of time.

What you must do as a bookie to keep your players playing…

Start by finding out who your players are. Who are they really? Where are they from and why did they sign up with you? What sports do they enjoy, what events do they enjoy and most importantly what is their gambling budget?

You must qualify your players…

This term is often used when speaking in terms of credit, however, it’s often misused. QUALIFY… This term means that you must find out where your players interests lie. Do they enjoy betting on horses, what about blackjack, do they like to play?

How much can your client afford to spend? You must find out. It’s not always easy to speak to your clients about money but you must! Here is why — If you fail to understand what a player can truly afford, they will quickly be gone. The player sets the precedent in your mind with the size of their initial deposit. Should a player deposit $100 and they are new to your sportsbook—be upfront with them, ask them how they are planning to use the $100. Do they have one game in mind, or are they looking for action on several different games?

The guy depositing $100 might be earning $150K per year, or he might be earning $400 per week! The player may be testing the waters and he simply wants to know how your sportsbook works, how it operates and if you are an honest bookie.

Possibly, players are shy to let you know why they deposited a certain amount. That’s ok, if they like your sportsbook they will be back for more, you will learn their habits and then you can craft a better plan and build promotional offers to suit their needs specifically.

Get out of a “moneyline” and “spread” mentality.

*Sure, there are sports bettors that want nothing more than to bet on just the money line or the point spread, however, in most cases this is not true. Gamblers like options and they will spend a lot of money in your online sportsbook if you offer them plenty of great betting options. You must ask them what they like to bet on and you must ask if they like bonuses, contests’ and special player promotions.

Get out of the same old routine. A little hard work and ingenuity will pay off big if you are willing to get out of your comfort zone and find out what your players want. Find out what makes them tick and find out why they are choosing to spend their hard-earned money in your sportsbook. If they enjoy the casino, then offer them a free play, offer them a fair bonus. If they enjoy table games, then up the ante, give them a reason to come back. If they enjoy betting on golf, then give them an incentive to bet on golf. No matter what they enjoy betting on, the one think you know is this; they enjoy betting. Now, are you offering them a reason to keep betting with you? Do you know the hidden value of your players? If not, start finding it today.