5 Serious Pay Per Head Risks When Becoming a Bookie
Anybody interested in becoming an online bookie agent must be aware of the risks. Numerous risks abound when one decides to run an individual sportsbook.
Below, check out 5 such pay per head risks.
Pay Per Head Risk #1 – Per Head Scams
It’s important to always work with a reputable per head company. That’s why PayPerHead.com continually expresses its advantages over its competitions’ advantages.
At PayPerHead, the emphasis is on bookies becoming successful. All tools, rates, etc., are created with this single goal in mind.
How will a per head agent know she’s being taken advantage of by a per head company?
- Exorbitant per head fees
- paying for necessary, basic, PPH tools
- bad customer service
Those are all signs that the per head company might not be what they claim to be.
#2 – You Can Lose Money
In most cases, agents should make money running a personal sportsbook. This makes sense because the house always has an edge.
The usual 10% vig on against the spread bets is a huge edge for sportsbook operators.
However, you can lose money running a sportsbook. Always keep that in mind. Don’t just think about it when deciding to become a sportsbook operator. Always realize that you can lose money.
This should help most per head agents err on the side of caution.
#3 – Competition
Competition in the online sportsbook industry is fierce. Everywhere you turn, there’s a new individually run sportsbook that’s ready to steal your customers.
If you’re not willing to keep up with your competition, you most likely won’t succeed as a bookie agent.
#4 Players Get in Too Deep
This is important to understand. There are chances that one of your players gets in too deep.
What I mean, is that there’s a chance one of your players owes you way more money then they’re able to pay off to you.
Luckily, PayPerHead as already thought of this issue. That’s why PayPerHead created the settle alert tool. The settle alert tool pings agents before a settle limit has been reached.
Use your settle alert tool.
#5 – You Might Not Have Time
This pay per head risk is your risk, not a sportsbook industry risk.
Running a sportsbook takes time. Being aware of how much money is on a specific side of a spread is important.
Running a sportsbook isn’t a turn key business because, unlike Vegas, you don’t have millions of slot machine bucks backing up your sportsbook.
Not only that but to succeed pay per head agents must make decisions based on their personal sportsbooks. They can’t decide to just go with the flow.
Think about your time. How much of it do you have, and whether your willing to spend it on running an online sportsbook.