The difference between Pay Per Head and a regular book
Sports betting is becoming more commonplace and with it, more accepted as a recreational practice. Sports leagues are embracing the industry, a complete reversal from decades of trying distance themselves from gambling.
Whether it’s online sportsbooks, daily fantasy or Texas Hold ‘em tournaments at local casinos, gambling in general and sports betting in particular are now part of everyday life. Besides becoming a professional gambler, there is a way to cash in on the growth in the industry.
Becoming a bookie takes time and effort, just like starting any other business. Traditionally, a bookmaker operated on the fringes, personally handling every wager and trying to balance their bets among their base of players.
Attracting customers was mainly word of mouth and tracking them down to settle up their debts was often time consuming and occasionally fruitless. Any tracking mechanism had to be developed by the bookie and took a lot of manual effort to maintain.
None of that has to be the case anymore. Even independent bookies have the benefit of the latest technology to help manage their business. With the internet and state of the art software, someone with drive and energy can take bookmaking to the next level.
The best tool they can take advantage of is a Pay Per Head Service from a reliable provider. There are many features that can be beneficial from both the customers’ and bookies’ perspectives. Utilizing a great Pay Per Head Service can be critical to the success of a bookmaking operation.
A Pay Per Head service provides an online sportsbook for communicating odds and lines. It also allows for online wagers, 24 hours a day and seven days a week. There’s also phone support available for customer service and other player issues.
The sportsbook enables betting on a wide array of events, including the NFL, NBA, NHL, Major League Baseball, international soccer, college sports, MMA/UFC, boxing and others. The bookie, by offering a user interface with the look and feel of major corporate sportsbooks, adds professionalism and legitimacy to their operation.
Different wagers are also offered, including futures, spreads, money line, over/under, reverse, propositions and live betting. The bookie has the capability to tailor each customer’s experience by limiting their access to certain sports and wagers, depending on risk factors.
Each customer has their own secure account which the bookie manages. The bookie has the ability to customize lines, taking into consideration their overall action on a particular game or event. They can also offer bonuses and incentives to drive wagers in a particular direction should they need to get more balanced.
The Pay Per Head Service gives the bookie up to the minute data on their customers’ wagering activity, both on an individual and collective basis. The bookie can see how they’ve done with recent wagers as well as where they stand on upcoming activity.
The past data can help them understand where they are making the most money and what events they may want to discourage their clients from wagering on. Driving action to the more profitable sports or wagers can be accomplished in a number of ways, including changing lines or odds.
By not having to personally place every bet, although that option is still available, the bookie has the time to spend analyzing their business. The goal of a Pay Per Head Service is to give the bookie the resources and time necessary to maximize the profitability of their operation.
The service helps the bookie keep up with where they stand overall and with each individual account. They have the information necessary to decide what bets to take and which ones need to be turned down. This can all be facilitated through the software and the account management tools.
A Pay Per Head Service is one that charges a fee for each client that places a bet during a billing cycle, usually a week. The fee only applies to accounts where there was wagering activity. If a customer doesn’t place a bet, the bookie isn’t responsible for a fee for that week.
It also doesn’t matter how active a customer is during the billing period. Whether they just place a couple of bets or if they’re extremely active, the bookie just pays the flat fee. They don’t have to share any of the revenue associated with the account.
Overall, it’s almost impossible in this era of popular sports betting for a bookie to be able to compete without the use of a Pay Per Head Service.
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