A pay per head business will be nonsense even though you are using the best Sportsbook Software. This is because an improper reporting can fail you in the business. Your success as a bookie does not solely depend on the features of your Sportsbook Software or neither on your skills as a good bookie. Your success as a bookie in the field of sports betting also depends on how good you are in making reports. Reports will let you know if you are earning or not on your bookie business as well as it will show you your weakness and strengths in the wagering. Here are some pay per head reporting tips you must know for you to meet online sports betting success:
Technical Management-Account Setup
The technical management of the account setup of the Sportsbook software comes first from the other pay per head reporting tips. It is because when you are able to make the clear total account setup of your Sportsbook software, it will be easier for you to handle the most stressful aspects of running a sportsbook. This is also one of the most important pay per head reporting tips for it’s the start of everything where reports are concerned. Sometimes, your pay per head Sportsbook software will take care of everything including the concerns on servers, data security and more, making it easy for you to automatically create your account set up for your bookie business.
Understand the Basic Tools and Features
Understanding the basic tools and features of your Sportsbook software is another significant pay per head reporting tips. There is some Sportsbook software which offers automatic management of your daily wages and changing lines, making it easier for you to manage the bets. However, if you are not lucky enough, you will have to manually manage a Sportsbook software. This automatic management is included in the basic tools and features of a Sportsbook software. Few great pay per head reporting tips under this category is that the tools and features of your Sportsbook software will allow you to run your bookie business the way you want to. With this, you can set the management and reporting as simple as you prefer.
Monitor Wagers’ Daily and Weekly Reports
As a bookie, it’s your job to monitor every wager or bet and these pay per head reporting tips will keep you busy. It’s because included in your duty as bookmaker to monitor and create reports for daily wagers. Not only that, for you also have to monitor and create reports for weekly bets. Even though, the work is so challenging and will require you to spend a few hours, keep in mind that you are doing it for the sake of your bookie business. Don’t worry because most of the Sportsbook software already have automatically calculated reports for you on a daily and weekly basis. All you have to do is to analyze the flow of your business and compare, do not also forget to look for the strengths and weaknesses as well as the times when betting is low or high.
Analyze the Player Management Reports
The player management reports are actually the duty of a sub-agent. However, if you do not have a sub-agent, as a bookmaker it is also your duty to analyze the player management reports. For better results, remember these pay per head reporting tips – have somebody to help you out with the player management reports for the second opinion and hire sub-agents who are responsible enough to provide a weekly report. Sub-agents must have the direct contact with every player in your Sportsbook. They must also be approachable all the time to work with the players. Its really hard to retain players, so, as a bookie, you should always get a weekly players management report and analyze it. The report will let you know who’s player is paying on time, who’s player deserves some bonus, and who’s player should be removed from the sportsbook.
Using the Hold Percentage Reports Tool
One of the best pay per head reporting tips is the use of the hold percentage tool. Most Sportsbook software includes the hold percentage tool, but most bookies do not use often. If only those bookmakers who do not often use the hold percentage tool knew how important it is in calculating how the bookie business is getting profitable, they will surely use it from time to time. It’s the reason why it is considered as one of the best pay per head reporting tips. The hold percentage easily shows the overall win/loss total on the game. The reporting using the hold percentage tool can be seen by game, by day, by week, or even for a few months or year.
What is the Hold Percentage Tool?
Having an idea on what is the hold percentage tool belongs to the wisest pay per head reporting tips. Basically, the hold percentage tool provides the breakdown of all the transactions in the Sportsbook software. Also, it’s the duty of the bookmaker to use the breakdowns on managing his bookie business. Basically, the hold percentage provides breakdowns for a league, sport, bet type and period. It even further provides breakdowns for a win, volume, loss, average bet amount and the actual hold percentage. What makes it included in the wises pay per head reporting tips is because the hold percentage tool is the key tool for all agents or bookies. You can use the hold percentage to see the amount of money you can keep, for instance, on a $1,000 wager, you kept the $200 with the hold percentage of 20%.
How to Use the Hold Percentage Tool
Just a few information in this pay per head reporting tips is on how to use the hold percentage tool. One of the benefits of the hold percentage tool is that it can add all sorts of efficiencies to you. For instance, in a Final Four Championship game on NBA, you can use the hold percentage tool of the Final Four for NBA Championship Series or NBA Championship futures. Additionally, another great pay per head reporting tips is that you can run two or more data subsets and put them under comparisons such as comparing the hold percentage of NBA games to NFL and MLB. By this means, you can identify if players are more interested in NBA than NFL or vice versa, so you can first market the game before holding it in your sportsbook.
Running Data Subsets
Another pay per head reporting tips is to use the hold percentage tool as a way to run two data subsets. The capability of the hold percentage tool to breakdown varieties of sports, period, bet or league from the activities of the player or sub-agent can be the key to run and compare data subsets. You can run data subsets in two ways: run data subsets comparing sub-agents or run data subsets comparing players. In comparing two sub-agents the hold percentage tool can be used to track and compare sub-agent’s performance. Through this, the sub-agents will be encouraged to work better helping the bottom line of the bookie business. While data subsets on players are the great way to determine who prefers to wager on what game.
Setting Up Sub-Agent Reports
For the last part of the pay per head, reporting tips are to set-up sub-agent reports. This report is not used regularly in the Sportsbook software, but it is one of the most important reports available. This report will let you inform your sub-agents on your expectations for them. It can even put a simple breakdown of open bets action after a final event so that sub-agents can see the estimated profit for a specific game. As the master agent or bookmaker, you can ask your sub-agents to glean from reports so you can determine if any of them overloaded with players or not.