Top 6 Reasons That Pay Per Head Bookies Do Not Increase Their Business
Matt Skinner of Gambling911.com provides us with 6 reasons why bookies have difficulties building their business.
The goal of every bookmaker is to grow and increase revenue. But after some time, you might not be reaching the economic goals that you hoped for. The guys over at Premierperhead.com have used their experience to compile a list of mistakes that you should avoid in order to grow.
6. Start with a bankroll
This seems like a given, but you would be surprised at how many local bookies start with a bankroll that can barely cover the initial bets they're taking. Bookmaking is like any other business, if you are not funded properly you will realize quickly that you are not going to make it. You might want to consider starting as a sub agent of a bigger operation, where you will have less or no risk. This will give you a chance to grow your player count without running into problems. It will also give you the opportunity to take on players that you might normally have to turn down because you can't afford them, which brings us to the next reason.
5.Don't say yes to everyone
In all businesses, saying no is sometimes the most important decision you can make. Bookmaking is no different. You can't expect to take on every player that comes your way. Bigger players will sound very enticing to any bookie, especially a new one. But you need to realize what kind of damage a big player can do to your business. If you have a week that you can't afford, what are you doing to do? Are you going to not pay the big player so you can pay the other ones? Or are you going to pay your smaller players and lose the big one? Don't put yourself in this position. If you come across a player you can't handle, then your best advice might be to find someone to go partners with you on that account, or to offer him to someone else and take a free roll.
4. Don't worry about player count
Ever hear the term, "quality, not quantity". It appears most new bookies haven't. Don't let your player count get into your head. Numbers will come with time. Focus on getting in new players that pay and will lose. Many new pay per head agents look to take on as many new players in the beginning regardless of who they are and how they play. Grow your business over time. Use your current good players to grow. Ask if they have any friends, maybe from work or their fantasy league. If you have a current player who is solid, chances are they will not recommend anyone that will cause a problem.
3.Choose your Pay Per Head service wisely.
Do not under estimate this one. This is one of the most important reasons that bookies can't seem to grow their bookmaking business. You need a reliable price per head provider that will not only give you the rate you need to manage your bankroll, but also provide you the service you need to keep your players happy. Not only does your site have to stay online 24/7, but it has to give you the ability to get the most out of your current players, as well as attract new ones. Premierperhead.com has a 99.99% uptime, easy to use mobile sites, and live in-game wagering for every game, every day. So not only will your current players be happy, they will more than likely recommend you as a wagering option to their friends. So you will increase your profit, and give you the chance to grow your business. They will also give you the knowledge to avoid players that can harm your business, which brings us to our next reason.
2.Avoid Sharp players
Sharp players used to be few and far between. Now they're a dime a dozen. This is bad news for bookmaking agents, because they pose a great risk to your business. Think about this, how many players out there can afford to bet $500 a game or more? Unless you know them personally, or come from a trusted source, start your players with a smaller limit. This is one way to weed out sharp players, and make sure you protect your bankroll. There are many more signs to look out for, if you visit the premierperhead.com website, they can provide you with information and a complete player evaluation for any player you have with them.
1.Don't be greedy.
This is an underlying theme among all of these reasons. Greed will cost you in the long run and might eventually put you out of business for good. Bookies need to be willing to give, to get. If a big player comes across your path that you can't handle, don't risk your business to take him on yourself. Either take on a partner, or sell him off. Don't be afraid to offer commission out there. Nothing motivates others more than the prospect of earning money. You should offer a decent commission to anyone that offers to bring you business and be responsible. There is no reason to go under 25% for potential sub agents. Also, offer commission to your players and other people you know. Even if it's as small as 5 or 10% just for a referral. You will be surprised what just a little bit of commission will do to grow your business.
We hope these tips will help you not just for this season, but for years to come. Good luck!!
Matt Skinner, Gambling911.com
