..

3 Common Mistakes Online Bookies Make & How To Avoid Them

Written by:
Guest
Published on:
Nov/09/2017

Per head agents are human beings. They make mistakes. Below, are 3 of the most common mistakes that agents make.

After reading about the mistakes, read how to prevent making the mistakes

1 - Using Their Layoff Accounts Too Much

This is, by far, the most common mistake that online bookies make. At first glance, just receiving the vig, the 10% juice, players pay bookmakers to accept against the spread wagers makes sense.

After all, that’s the only thing Vegas sportsbooks are looking to do.

Think about it for a moment, though. Vegas sportsbooks survive by simply accepting the 10% fee because the bulk of their revenues come from casino bettors.

Not only that, but they’re working with a lot more action than the typical online bookie.

2 - Not Setting Max Betting Limits

Not setting max betting limits can lead to disaster. Max betting limits on all future bets is a must.

Max betting limits on all moneyline bets is also a must. This includes all baseball and hockey bets where spread betting doesn’t exist.

3 - Forgetting To Set Schedule Limit Overrides 

Not setting schedule limit overrides can also lead to disaster. Schedule limit overrides allow online bookie agents to shut off betting for a specific period.

Overrides can be added for many reasons. The most important is to protect against sandbaggers, those who jump on future odds before oddsmakers have had a chance to change the odds.

How Can Pay Per Head Agents Avoid These Mistakes?

It’s important for online bookie agents to understand how to avoid these common mistakes so they can continue to grow and make a profit.

Agents who are looking to expand their knowledge, and understand tools and tactics they have at their disposal can sign up for PayPerHead’s 14-day Bookie Bootcamp.

They’ll assist any bookie - at any level - generate more business and more profit. All bookies have to do is sign up for the free trial of PayPerHead’s Prime Package. They’ll instantly be enrolls in the Bookie Bootcamp.

Below are tactics each bookie can use to avoid the 3 most common mistakes.

1 - Figure Out Risk Threshold Before Using Layoff Account

When CFO’s invest in other companies, use part of their company’s profits to buy stock in other companies, they first assess their risk threshold.

For example, the risk threshold for Microsoft when they invested in Facebook before Facebook’s IPO might have been $25 million.

Your risk threshold determines how much money you’re willing to lose by not using your layoff account. The money after your risk threshold is how much you lay off.

2 - Set Max Betting Limits As Soon As Future Odds Are Posted

As soon as future odds are posted use the mass editing tool to set max betting limits. It takes virtually no time to keep every one of your players at something like a max of $200 per future proposition.

3- Set Schedule Limit Overrides on Futures In Line With What Vegas Does

This one is bit more difficult to carry out. Vegas adjusts Super Bowl betting lines, as an example, after the games have been played on that Sunday.

You should try and set schedule limit overrides close to Vegas’ overrides.

In the above example, this would mean disallowing Super Bowl wagers from the Thursday night NFL kick-off to around Tuesday afternoon when all Super Bowl future prop bet odds have adjusted.

Make more cash by implementing the above tactics. For more tactics, eBooks, and resources, sign up today for PayPerHead’s Bookie Bootcamp.

Take your sportsbook to the next level - start today.

Gambling News

Michigan Nears Launch of Online Sports Betting

Michigan Nears Launch of Online Sports Betting

Michigan casinos could launch online sports betting and gambling games in December once state lawmakers waive the remaining time they have to review proposed licensing rules.

What to Avoid in Online Gambling Sites

What to Avoid in Online Gambling Sites

Online gambling, which started around 2010 has since grown to be one of the major activities on the internet today. Since then, the industry has seen a few changes in terms of public perception and acceptance. Also, the industry has witnessed some adjustments in the laws and regulations guiding its operation.

Controversy Brewing: Draftkings Voiding Tyson-Jones Bets?

Draftkings was among the only sportsbooks that booked Saturday night's monster Mike Tyson-Roy Jones, Jr fight.  Because it was billed as an exhibition fight, few were taking bets.  BetOnline only offered a handful of prop wagers, including whether Tyson-Jones would go the distance.

Start a Sportsbook Betting

Start a Sportsbook Betting

To start a book betting is actually very simple nowadays, instead of back in the day when everything had to be done by hand, and the betting options were extremely limited.

5 Exciting Card Games from Around the World

Card games are exciting and entertaining. So, it only makes sense for card lovers worldwide to want to explore other options out there. Luckily, there are dozens of card games worldwide, most of which we will discuss in this article. 

Syndicate