For most online bookies, the World Cup led to a boon in soccer betting profits. Nobody predicted that Croatia would end up in the championship game with France.
Even though World Cup betting only happens every four years, you’re a business owner, you have to learn from your mistakes so you don’t make them again, with soccer, or any other high-stakes event.
So, if you’re one of the bookies that didn’t save their soccer betting profits—keep reading.
The tools below will ensure that once you make a profit, you don’t lose it.
Remember, every tool listed is available at PayPerHead.com. They know what it takes to provide online bookies with the right tools to save and increase their profits.
3 Ways Bookies Could Have Saved Their Soccer Betting Profits
After Belgium knocked out Brazil, France became a huge favorite. The Belgians knocked out Brazil in the quarterfinals. That means there was plenty of time for chalk bettors to jump all over the French.
Although receiving action is often a good thing, in this case, it turned out to be a profit killer. The French easily handled Croatia 4 to 2.
They beat the Croatians via a much stronger offense than what Croatia showed.
Profits flew out the window for online bookies that didn’t do the following 3 things:
1. Set max betting limits on France for soccer profits
By setting max betting limits, bookie agents could have ensured that they kept the profit they acquired earlier in the World Cup.
Often, a favorite wins the World Cup. Before the World Cup even started we posted a blog about the only teams that had ever won a World Cup.
Of the only teams that had ever won a World Cup, France and England were the only two teams left after Brazil’s loss to Belgium.
Max betting limits for soccer ensure your profit. Don’t be afraid to set max betting limits when applicable for soccer betting, or any other high-stakes game like the World Cup.
2. Schedule limit override
After Brazil was knocked from the World Cup, Vegas sportsbooks immediately made France the favorite. Wagers soon started landing on the French to win the World Cup.
Most pay per head agents in the United States could have set a schedule limit override to either discourage betting on France to win the World Cup, or to encourage wagering on a different team to win the World Cup.
3. Promotions around other teams to win the World Cup
At the time Brazil was knocked out of the World Cup, 4 teams remained:
Promotions around England, Belgium, and Croatia might have led to more action in your sportsbook.
Almost as important, it would have discouraged wagering on France to win the World Cup. Setting the override, or taking France off the board, and then releasing a promotion to encourage wagering on any of the other 3 teams would definitely have saved soccer betting profits.
Online bookies aren’t offshore sportsbook or Las Vegas sportsbook operators.
They can’t afford not to pay attention to potential future book outcomes, like which team will win the World Cup, that could affect their businesses.
When in doubt, set max betting limits.
There’s also no shame in taking a wager off the board if you’ve already accepted too much action.
The lesson for the World Cup, and any high-stakes game (think Super Bowl) is that online bookies need the right sportsbook software that offers the best tools in order to ensure profits—and even increase profits.