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Online bookies must think like sports bettors. By thinking like sports bettors, bookies can understand how bettors try to make money via wagers outside of the moneyline and betting against the spread.
7 Strategies by Sports Bettors
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1. Prop betting
Betting on something like who hits the most home runs in an MLB season. You should set max betting limits to mitigate risk.
2. Future betting
Betting on the team to win the Super Bowl, the World Series, or the NBA Championship. Set max betting limits to mitigate risk.
3. Teaser betting
Teasers allow sports bettors to change betting lines. Most online bookies won’t accept any teaser wagers with less than two teams. The odds never justify making a teaser bet.
The more teams in the teaser, the better chance of a losing wager. Overall, bookies make money off teaser bets because they require more investment than traditional wagers.
4. Parlay betting
Like betting on black or red on a roulette table, parlay betting always favors the house, the bookie. A two-team parlay bet pays 2:1.
It’s hard for most bettors to make a winning wager against the spread on a single game. True parlay odds for a two-team parlay bet are closer to 3:1 than 2:1.
5. Pleaser betting
Pleaser bets allow bettors to move the line for more favorable odds. An example of a pleaser bet is if a player wagered on Philadelphia against the spread versus New England in the Super Bowl at -3 instead of +3.
The player gets higher odds for laying the 3 points.
Pleaser bets can be dangerous. Astute handicappers only place pleaser bets when they believe they’ve got a sure thing. It’s against the online bookies best interest to offer pleaser wagering.
6. Sweetheart teaser betting
Think of sweetheart teaser betting like juiced up teaser betting. The lure of easy money encourages sports bettors to wager on sweetheart teasers. They don’t often hit.
Most bookies that offer sweetheart teaser betting require parlays with at least 4 teams. Sweetheart teasers also require large investments for minimal payouts.
Again, you, the bookie has the edge.
7. Bye week betting
Many sports bettors are experts at wagering on NFL and college football teams after their bye weeks.
Online bookies can’t do much about bye week sports bettors. If you cut off bye week bettors, they’ll just move to your competition.
When bye week bettors win, congratulate them. Then, encourage wagers through one of the other above mentioned bets via creative marketing and promotional messages.
Understand Your Sports Bettors To Make More Cash
Understanding how your sports bettors want to bet help you to increase revenue by increasing action. Curate specific marketing messages to players you know enjoy specific bets, and get them excited to spend money.
In turn, you’ll get more actions, and in the sportsbook business, action equal revenue.
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