Using bookie software is a practical and affordable way of creating your online sportsbook. For those who are new to the business, a pay per head software services gives you an online sportsbook that you can run and manage on your own, and the cost is just a standard fee per player, per week. So, assuming that you have 20 players, and the pay per head fee you have is $5 per head, then you just pay $100 a week to use the service. Affordable as it is, you still need to know how to make the most out of your bookie pay per head fees. That way, you can maximize the money you invest, and you can also increase your profit margin.
Bookie Pay Per Head Fees- Make the Most of It
Let’s go with the estimate of $100 a week for $5 each for your 20 players. Your first goal, of course, is to get this money back. This means that each week, your player needs to give you a $5 minimum of profit to break even. With your bookie PPH solutions provider, you can easily track their activity individually, so you know if you are earning money from your players.
One of the oldest tricks in the sportsbook pay per head industry is to offer more to your players. This means, opening up the other features of your PPH service. If you are using a high-quality service, they you can expand to offer an online casino and horse betting at no additional cost. This increases your profitability without even spending more.
Earn More than Your Sportsbook PPH Fees
As mentioned earlier, each player has to give you a minimum of $5 worth of profit each week to break even. The chances of hitting this mark is very high, especially if they bet frequently. Remember, that as a bookie, you earn vig for every wager they make. So, if they bet at least once everyday, then you will be earning more than enough to cover the fees. Of course, managing the lines is also important as this is your main source of profit. Keeping the books as balanced as possible limits risk, and ensures that you can afford to pay out your players’ winnings, and have enough extra as profit.
Another way to do this, is to increase the betting limits of your players. If you can increase their frequency of wagers, perhaps you will also be willing to increase the maximum amount of bets that your players can make. Again, this will depend on the standing of your player in your sportsbook. And, it also depends on how much you are willing to put up to ensure that you can bankroll the wagers in case they do win, and there are few losses in the wager. Again, you can easily customize the players’ limits individually through your sportsbook pay per head software. Your software has all the tools that can help you analyze your operations. Not only should you use your software to manage the lines and players, but also use it to strategize and plan for increasing your profit margins.