October 2018 - RDGCorp

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Pay Per Head Helps Bookies Cash In on the Breeders’ Cup

If you are a private bookie trying to successfully run and manage your own independent sportsbook, you need to take full advantage of every betting opportunity that comes down the pike. The start of November marks the beginning of the second half of the football season in the college ranks and the NFL. It is also the first full month of betting action in the new NBA season as well as the NHL. Later in the month, college basketball joins the mix to pack your betting board.

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You would think that this is more than enough to keep things busy heading into final two months of the year. However, when it comes to a two-day betting event to kicks things off in November, the annual Breeders’ Cup for horse betting has the ability to add some serious profit to your bottom line with relatively little effort on your part.

The Breeders’ Cup is horse racing’s biggest two-day event of the year in the United States with 14 major graded events totaling $30 million in total prize money. This year’s event will be held at Churchill Downs starting with five races for juveniles on Friday, Nov. 2 followed by a full card of racing on Saturday starting at 12 p.m. The highlight of the day at Churchill is the running of the $6 million Breeders’ Cup Classic featuring the ‘best of the best’ when it comes to thoroughbred racing.

The best thing about this event is how easy it is to add to your betting board with the help of your Price Per Head racebook software solutions. Even if you currently do not offer horse betting as part of your bookie business, your price per head shop can have your very own Breeders’ Cup racebook up an running in plenty of time to start taking action on all the races. All you need to do is set up a quick marketing plan to get the word out to your customer base to let them know they can bet the Breeders’ Cup with you.

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If you were looking to add a racebook as another income stream, this is the perfect time to start behind the sport’s biggest overall event. Everyone knows that the Kentucky Derby is the biggest horse race of the year when it comes to horse betting in the United States, but the class of talent running in the Breeders’ Cup races the first weekend in November makes each of the 14 events very attractive to horse bettors.

If you already have a racebook in place with your Pay Per Head service, the Breeders’ Cup presents a great opportunity to jump-start things with your entire customer base as well as some new sports bettors looking for a fast and easy way to place their bets. Horse betting is one of the few year-round ways to make money as a private bookie. By heavily promoting the Breeders’ Cup, you should be able to build some long-term betting action for your racebook that can provide an added boost to the overall profit you take in.

You may not think that your bookie business competes directly with all of the big offshore sportsbooks taking action online, but in reality, you do as long as you think of your operation as a full-service independent sportsbook. Why give your betting customers any reason to look elsewhere if they cannot find the action they are looking for on your board. There is no added cost to the weekly price per head fee you already pay for active sports betting customers, so adding the option to bet on horses in your own racebook should always be part of the business plan.

The Breeders’ Cup only comes around once a year, so now is the time to make sure your plans are in place to cash in on this unique betting event.

Promoting NFL Parlays with Pay Per Head

Private bookies running and managing an independent sportsbook should always be looking for ways to improve the overall hold percentage on the action coming in. The hold percentage is the difference between the money you have to pay out to winners verse the money you collect from all the losing bets. In a perfect world where the losers would cancel out the winners, you would simply collect the standard 10 percent commission (or juice) on the losing bets as the profit you earn for your efforts. Unfortunately, things do not always work out that way. As long as you can consistently generate a five percent hold percentage on the weekly action you take in, you can turn a solid profit at the end of the day.

Successfully Competing as a Private Bookie in Changing Times

One of the ways you can enhance your profit as a private bookie is by expanding your business for parlay plays and in particular NFL parlays. Avid sports bettors love parlays as a way to boost their return on investment and bookies absolutely love parlays given the built-in house edge. The standard payout on a two team parlay is 2.6/1, yet the true betting odds for grouping two winning plays together is 3/1.

The more teams grouped together in a parlay, the more the betting odds shift in your favor as the bookie. Some online sportsbooks offer parlay payouts up to 15 teams because they know the actual degree of difficulty of cashing in on any parlay play is much higher than most sports bettors understand it to be. Bettors get caught up in the return. They tend to not focus on the true odds for cashing in on a winning parlay play.

You can work directly with your Pay Per Head online sports betting software provider to create any rules and regulations surrounding parlay bets. It is probably best to follow the standard sports betting rules to remain consistent with the online sportsbooks you have to sometimes compete against. You will probably want to set some tighter betting limits for parlay plays. One of the unique features of most Pay Per Head betting software packages is the ability to set both betting and credit limits on an account by account basis. This provides the ultimate level of control needed to avoid any unwanted negative exposure.

Promoting parlay plays to both your existing betting cliental as well as to prospective customers is easy to do with the help of you’re A1 PPH service. They can be highlighted on your betting board while also being promoted through any of the standard ways you communicate with your sports betting customer base. Since the majority of the bets you book are placed online through a bettor’s individual account, it is easy to put together a comprehensive marketing plan for increasing parlay plays or any other initiative you are looking to use as a way to drive sales for your bookie business.

One of the more creative ways to enhance play on NFL parlays is to tweak the odds bit for specific team groupings. The standard payout on a three-team parlay is 6/1. The bettor can pick any three teams they want. You can sweeten the pot with a 6.5/1 return, but the bettor has to use three specific NFL teams to get the higher return.

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For example, you could offer a Florida Special at 6.5/1 for grouping Miami, Tampa Bay and Jacksonville into a three-team parlay play. In this scenario, you take control of the actual parlay which, in turn, should be designed to work in your favor. If Miami is playing New England and Tampa Bay is playing New Orleans, this could be another way to move some action away from the Patriots and/or the Saints as popular betting teams.

Tips for Using Your Pay Per Head Service to Market Your Bookie Business

Some private bookies turn to a Pay Per Head service to take their business online. They understand just how important it is to have an online betting outlet for today’s computer-savvy sports betting customer. Too many times, these same bookies fail to tap into everything that the top price head shops offer as part of the low, weekly price per head fees charged for active betting customers.

Finding the Right Bettors for Your Pay Per Head Bookie Business

If you consider yourself a private bookie that wants to successfully run and manage your own independent sportsbook for long-term financial rewards, then do not make the mistake of leaving money on the table. There are a wealth of business tools at your disposal when it comes to making the most of your partnership with a Pay Per Head site.

The top online sports bookie software solutions providers fully understand the fact that their future financial success is directly tied to yours as a bookmaking agent. They are constantly looking for ways to maximize the value in their software solutions package with added features and benefits that can be used to grow and expand your bookie business.

It starts with fast and easy access through the backend of the software. This allows you to obtain the proper business analytics needed to run and manage the day-to-day operations that go into a business of this nature. You need to constantly stay way out in front of the daily action coming in to avoid any negative exposure that could have an adverse effect on weekly cash flow and bottom-line profits.

Successfully Competing as a Private Bookie in Changing Times

These daily activity reports along with individual account profiles and other vital information pertaining to your hold percentage are the life blood of your bookie business. However, if you do not have the proper marketing plans in place to grow and expand your overall business, you could actually find yourself moving in the wrong direction as time wears on.

The best thing about being a private bookie is your ability to pick and chose which sports bettors you decide to do business with. Your Price Per Head service can actually help you seek out and find the type of sports betters that best meet your company’s needs. Given the fact that most sports wagering takes place through an internet betting account, you need to make sure that your bookmaking service has a highly professional online presence. If your online sports betting outlet looks like a nickel and dime operation, you are going to attract nickel and dime customers.

With the help of your Pay Per Head service, your goal is to level the playing field with the big online sportsbooks and their million-dollar betting websites. The top price per head shops offer similar software applications through online websites that can mirror what even the biggest online books are using as their operating system.

Market Your Bookie Services to Inactive Players with Pay Per Head

Today’s Pay Per Head agent websites may be equally as complicated in their design, but they are user friendly and easy to navigate for yourself as the operating agent and for your customers placing sports bets online.

One of the biggest advances in online sports betting technology has been the addition of a mobile betting platform for placing bets through any handheld device with an internet connection. Today’s ‘get it done yesterday’ mentality applies to all facets of online applications. Avid sports bettors want fast and easy access to their online betting account as well as the ability to place real-time bets at a moments notice.

If you are working with a quality Price Per Head site that can meet all of these modern needs, you can position your independent sportsbook as a quality online betting site with the added benefit of elevated customer service and personal attention to detail.