Bookmaking Industry Secrets
If you are looking to book action then the best way to make the most money would be to use a pay per head service.
These PPH services provide an all-inclusive ready to use a product where the services handle all the lines and updates all the odds 24/7. They also grade all wagers immediately after each game concludes with all balances updating automatically to each player and agent account.
One of the best pay per head services in the industry is www.AcePerHead.com. One of the biggest secrets they recommend to any agents is probably something that should be a given, however, this could be the main way to acquire new players and thus earn more money each week.
The biggest thing for you as the agent to focus on is just making sure you pay your players in full and as fast as you can. Players are going to lose over the long term, however, they will eventually get lucky and have some winning weeks along the way. However, this is not something to be discouraged about, because players need to win sometimes and have that feel-good feeling about sweating games and actually winning some money. If players never won, they would either go broke or just be so fed up that they could never win, and then just stop betting.
Bookmaking is a Marathon
The most profitable bettor for a bookie is not the one that loses 5k the first week they start betting, and then just decides to never bet again. Instead, it’s better to have a player that loses say $500 or 1k a week but has some winning weeks along the way, and bets for many years continuously. That will be the player that you will earn a lot more money from over the long term. Bookmaking is a marathon, not a sprint.
So the reason why it is so important to pay people as soon as they win or as soon as the weekends is that in an industry that is known for not be the most regulated when people win or just having some shady characters, people get worried that it could be a scam. However, there are plenty of honest bookmakers in the world, and the ones that pay right away get customers for life, since people will never complain about a bookie that pays them in full and promptly. People definitely don’t like getting the run around when it’s time for them to collect their winnings.
In addition, the faster you pay your players, not only will they be happier, but they will also recommend you to their friends since people like to brag about winning from betting, and then getting paid quickly. This will help you to get a lot of referral business from your current players, and will all lead to you earning more money each week and over the long term.
Another quality bookmaking industry secret is to utilize free plays to either get guys started betting with you, use as referral bonuses, or use as a form of kickback percentage when someone loses and then pays their balance. A free play is just a set amount that you as the bookie determine to give to a player such as $50.
This amount can be used to make a wager and if the wager is a loss then the free play amount disappears and no money from the loss is deducted from the account. If the player wins the free play the free play amount still disappears and the winning amount is credited to his overall balance. So there is no way the player can lose and it gives him a free chance to have action on a game and get excited and hooked on betting.