Understanding successful online bookie habits will help you become a successful bookie. We’ll break down 5 of them in this article.
Online bookie agents run businesses. It’s true that bookies accept wagers, make payouts, and collect money, and provide betting services to clients.
However, at the end of the day, what all online bookie agents do is run individual businesses. Partnering with PayPerHead is the first thing that any bookie either starting out or a veteran should do.
5 Successful Online Habits
After that, they can keep the 5 successful bookie habits listed here in mind. By doing all 5, bookies will be able to growth their businesses and hit every goalt through 2019.
1. Don’t overuse the layoff account
Agents that partner with PayPerHead have access to their own personal, layoff account. They can lay off betting action to mitigate risk.
The layoff account is an important tool that allows bookies to run their sportsbooks to ensure profits.
However, bookies can overuse the layoff account. Overusing the layoff account can lead to profit loss. Bookies must be very specific when and on which games they wish to use their layoff account.
It’s meant to be a tool that ensures profit, not one that costs agents profit.
2. Think long-term
Remember, you’re running a business. If you lose money on a game because you didn’t properly use your PayPerHead software, don’t close up shop.
Figure out your mistakes and try not to make them in the future. You must think long-term.
You didn’t create your business to only accept bets on the Super Bowl.
By thinking long-term, you can take advantage of other PayPerHead offerings. For example, you could promote wagering on the 80+ international sports leagues that PayPerHead offers.
3. Use agent payment system to speed up payouts and collections
PayPerHead’s agent payment system is the first of it’s kind in the per head industry. You can make super quick payouts, keeping players happy, and collect quickly, making you happy.
By making quick payouts, you receive the money back quicker in betting action. By collecting quicker, you allow your players to stay even with you, which means they can keep playing.
4. Always learn
You must always learn.
Continue to educate yourself about the pay per head industry by reading the PayPerHead blog.
Continue your finance education by reading the latest finance books. Even take courses on finance at your local community college if you have the time.
Also, keep up on the latest marketing techniques and learn as much as you can about cryptocurrency.
5. Make decisions based on your sportsbook
We list this fifth, but it could be number one.
Don’t make decisions based on what’s happening in Vegas sportsbooks. Make decisions based on what’s happening your pay per head sportsbook.
Use the layoff account, change betting lines, set schedule limit overrides on what you see in your business, not anyone else’s.
If you’re ready to upgrade your business and roll into 2019 with the right tools, and the right strategies, it’s time to speak to a PayPerHead rep. They’re ready to help you migrate your sportsbook easily, or start brand new!