You may not be familiar with the term “pay per head bookie fee” because it’s not the usual monicker that bookmakers always use. But did you know that it’s the bread and butter of every pay per head bookmaker? It may not be too much but it’s a big help though.
What Exactly is a Pay Per Head Bookie Fee?
A bookie fee is popularly known as the “vig” or “juice.” It’s a fee that a bookmaker charges to his bettor for placing their bets. With this amount, a bookie is guaranteed of making money on a wager or bet.
A few bettors have the wrong notion that they only pay a bookie fee on winning bets. Others believe that bookmakers only generate money on losing wagers. However, that is not the case.
Understanding the Fee
Again, bookmakers charge a bookie fee to make sure they’re making money on a bet whatever the outcome may be. Instead of considering to stake it for one side win, the bookmaker will relatively make it fairly even and profit no matter what. Whatever becomes of the outcome, the bookmaker still wins.
Calculations Make Easy
A bettor can recognize a bookie fee easily after getting familiar with it. Knowledgeable bettors know that an “even” wager is a bet devoid of a bookie fee. This is absolutely a fair bet. If the fee gets farther from even, the fee tends to get higher.
For instance, the bookmaker automatedly acquires a higher cut of -110/-110 wager than the even bet. He has the opportunity to pocket a consistent higher cut at -115/-110 and can continue in the future. Among the types of bets, prop bets seem to have more vig attached to it depending on the bookmaker.
In case you’re a novice who isn’t familiar with vig that much, we make calculation easy for you. Actually, you can compute the percentage even without determining the result of the event or the amount risked. Here’s how you can calculate the vig:
Vig = 100 (1 – a x b /a + b)
Letters “a” and “b” stand for decimal payouts for each outcome while “x” stands for multiplication symbol. You just plug the numbers and find the juice easily for a bet.
Shifts on Vig Depends on the Odds
It’s natural for a bookie fee to shift based on the posted odds. Smart bettors are generally mindful of this fee. Poker players recognize the exact odds, while some are more instinctive. They understand that getting 5-1 on a three-team parlay is unacceptable. This is although they are not aware that the vig is an extravagant 25%.
Almost all bettors are not happy betting with a bookie fee. However, the game cannot proceed without it. Remember that bookmakers need their percentages and entitled to it for taking action on any side. Despite that, there’s no sense in providing them more than their due.
A higher bookie fee means more bettors need to bet to gain profit. When it comes to sports betting, it would be better if there is less juice.
When a bookmaker starts to adjust the vig, it can be an indication of a line change of a game. There are instances that the money on a line begins to get a bit unpredictable for a bookmaker. If this happens, the vig is adjusted to ensure profits without shifting the whole line immediately. Oftentimes, modifying the vig is a sign of a changing line that is too soon.
Let us make it simple. When an unreasonable amount is bet on one side of a wager, the bookmaker will probably change the line. The reason for this is to encourage more players to bet on the other side. Prominent bookmakers typically don’t want a stake since they acquire a sufficient amount from the vig.
A huge bet that’s not enough to change the line completely prompts the bookmaker to make adjustments. Two things will happen if there’s an increase in pay per head bookie fee on one side even with a few percentage points.
Initially, it will attract more players to bet in a specific way, similar to a line. The increase in vig usually enables bookmakers to take home a profit. Whether it’s small or big profit it doesn’t matter. For a bookmaker, every dollar is important. New bettors need to be aware of this to help them save or hook a couple more bucks.
Winning Against the Vig
Since you cannot escape the vig, you can still win against it. How? You can do your best to minimize it. Just look for betting sites with the lower bookie fees. Moreover, you can take advantage of the different promotions and rewards that bookie websites offer. The perks will offer you improved odds or money back that’s more than the vig.
Partner with the Best Pay Per Head Provider
To ensure that you’ll be able to provide the best service to your players, you need to partner with the best pay per head provider like IDSCA. Its betting platform is developed for land-based bookies, pay per head shops, and sportsbooks. Dial (866) 225-5437 and take advantage of the services and privileges that IDSCA can provide.