To become a successful bookmaker can be achieved by any individual who has encountered countless experiences in the field. Your bookie software tools can boost your pay per head sportsbooks profits provided you attain profound knowledge about it and you know how to make use of it.
Most pay per head bookmakers often undergo bankruptcy with their sportsbooks and it is because the majority of these bookmakers do not understand the wide variety of tools offered in their sportsbook software.
Online Bookie Software Tools
The list below displays the best bookie software management tools that can rapidly increase your profits to another level.
Credit Limit Override
Sports events are scheduled throughout the year that can meet your pocket full of cash. This will enable your book to keep going even during bad weather. For example, the March Madness held last year accommodated 70 million brackets and received over $10.4 billion bets in the NCAA tournament.
A great value of $29 was obtained from each bracket. However, this may potentially increase your profit, events that cover this much money can sometimes result in a restriction on how much money to bet because you reached the limit of your player’s credit.
If you are an experienced veteran in the industry then you will know that the majority of the players wait until the last minute to place their bets. In this scenario, it is better if you schedule a credit limit a few hours before the games start. This will allow your players to take more actions in your book instead and boost your profits. However, it is important that you ensure them that they have more credit otherwise it will not be a success.
Max Bet Limits and Mass Edit
This tool will help you save time and prevent your book to overflow with too much profits. Unlike most sports events, the Super Bowl offers prop bets to players. However, it is important to place max betting limits on this type of wagers.
This includes unwise bets such as the exact time of how long the National Anthem will last. This is an example of a prop bet, which you should avoid to prevent losing your hard-earned money by some players. In order to avoid losing good values against someone betting on a 50-50 probability, you should place a limit on props bet.
In addition, these prop bets are probably flooding your book and you want to save time by using a mass edit tool to immediately get things done by selecting all prop bets and imposing a certain limit you want.
Hold Percentage Report
Holding your percentage is crucially important when handling a sportsbook. If you have no idea how to do it then you will find yourself losing a lot of profits. Once you settle all the bets, the percentage of money you obtain is your hold. By calculating your hold, you divide the gross winnings by the gross amount of money in the bets you took.
Your hold percentage determines how much profit you will earn as the bookmaker. Calculating your hold percentage can help you develop into a professional bookie. You are going to keep your hold to above 5% of revenues since this is what most Las Vegas casinos maintain in sports betting.
By using software for bookies, you can easily determine your hold percentage. Usually you should keep your hold between 5%-10%. However, if your hold is staying under 5% then you should utilize the next tool.
Player Winnings Report
You should be aware of the players lurking in your book. These players can greatly affect the outcome of your sportsbook. You can still handle your reports with ten players, however once your book starts to gain popularity and more players come in, it will be difficult to manage.
A specific player can hide among these individuals and can greatly create a negative impact to your profits. In this case, you can use your bookie software to identify the culprit and kick him out.
You are able to identify these kinds of players and their daily figures with the player winning report. It is important that you monitor the player’s weekly and monthly figures to avoid a tough situation. You can only do it manually if you have at least 10 players but once you have dozens then it is difficult to monitor them by hand.
There will be a significant time when you will encounter a losing week and it is mostly because of a player going on a winning streak. It is important you keep track of this kind of player. They usually end up losing in the long run so do not kick them out right away if you notice their figures. If you kick out these players then you might lose a square player that can contribute to your profitability.
For instance, you noticed a player winning a significant amount of money. You decided to kick him out instead of looking through his history. Turns out, the player won a usual bet type of 7-team parlay. Parlays are known to be called “sucker” bets due to the fact that they are hard to win.
In this scenario, it is best you use a bookie management to keep track of your players otherwise you will often lose great opportunities by constantly kicking out suspicious players.
Use A Layoff Account
A layoff account is uncommonly offered in a pay per head. Every bookmaker wants a situation wherein you want your players to lose, however there are instances that this case occurs the other way. There are times wherein losing is a great way for you to secure a profit.
A layoff occurs when one sportsbook places a bet on another book to reduce the liability on a given name or when they want to balance out the action. These bookie software tools are all offered to various bookmakers by IDSca.
You should consider using one in your book in order to not exceed the given amount of money in the process and at the same time boost the profits of your sportsbook. This way you will get better revenues for your business.
Visit us at www.idsca.com or call us at (888) 255-5437.