The Most Common Pitfalls Every Bookie Faces
Every career choice has its risks, the same way every business venture faces dangers, the key to success if lies in trying to learn from others mistakes and most importantly perhaps knowing how to recognize the dangers our businesses face.
And How to Avoid Them
Many people wonder if being a bookie is dangerous, the answer is yes, but not in the way you may think. Sure, there is a possibility you get mixed up with the wrong people and you could suffer physical harm, but the biggest dangers in bookmaking are those associated with the day to day management of the business.
Risk # 1 – Going Bankrupt
This is every bookie’s nightmare, what happens when your players beat you every week? What if you find yourself in a situation where you must borrow money to pay your players?
Overall, the players will lose more than what they win, but this doesn’t mean there won’t be weeks and even entire seasons where making a buck seems like the most difficult task in the world. It is because of this that bookies need to keep close tabs on their expenses, make sure you collect what you are owed, and pay the players on time, otherwise they will feel entitled to pay you late as well.
Managing the bankroll is possibly the most important aspect of running a successful bookie operation, well that and making sure you have the right betting odds. My advice to rookies and veterans alike is, don’t overspend, always re-invest your profits back into your business and save, save for a rainy day, save for a bad week, save for a terrible season. Just because you made a million dollars doesn’t mean you have to spend it, and just as easily as you made that money you could lose it the next week.
Risk # 2 – Signing Up with the Wrong Pay Per Head
The single most important business decision, bookies need to make, is who are they going to entrust the day to day management of their business? Registering with the wrong pay per head can mean certain death for all bookies, regardless of their size.
A pay per head, that doesn’t post the best betting odds, one who constantly makes mistakes while adjusting the lines or grading the games, one that does not have a strong infrastructure that will withstand high traffic, and DDoS attacks, one who is not quick to grade games, or doesn’t offer a variety of betting markets and options is never going to allow to grow your business, in fact it will cost you, valuable players, every week.
To avoid any of these pitfalls you need to switch to Ace Per Head, the leader in pay per head services. They offer the most reliable software and network in the industry, the sharpest lines, excellent customer service, and more betting markets and options than any other price per head.
Risk # 3 – Being Slow to React
Gambling is a very fast paced business, and being slow to react can spell disaster for most bookie agents. If a player is consistently beating you and you don’t adjust their player profile, limit them, or even kick them out if necessary, you will lose a ton of money.
Risk management is one of the things that AcePerHead.com does best, they will study the betting patterns of your players and let you know if they see anything suspicious. This way you can take the necessary decisions to protect yourself.
Not realizing how much the wrong pay per head service is harming you is another risk, you don’t need to accept faulty service, for the same price you are paying now, you could be working with the top pay per head company.
Being a bookie is dangerous only if you allow yourself to be in a position where you can lose everything, make the switch today, register at AcePerHead.com.