The sports betting industry has experienced explosive growth in the last several years, due in part to the 2018 Supreme Court ruling that struck down Nevada’s legal monopoly on the practice. Since then over 20 states have legalized it and sports leagues have embraced it.
What was once frowned upon is now considered commonplace, even fashionable. There was a recent announcement that even PGA Tour broadcasts would contain a wagering aspect. The reversal in the treatment of sports gambling has changed dramatically in the last decade.
Independent bookmakers have been the main source of wagers, and continue to be, despite online state sponsored and offshore based competition. However, bookies need to be moving forward and embracing tools and technology that keeps them competitive with new players in the industry.
Manually tabulating wagers, taking bets by phone or test, keeping track of wins and losses on notepads and tabulating odds on the fly are all becoming obsolete. Online sportsbooks, live wagering and the addition of horse racing and casino gaming to the mix makes it difficult for the local bookie to keep up.
There is a way for them to compete with the large, corporate sportsbooks. Pay Per Head services provide a bookmaker with online technology that gives them the tools necessary to provide their customers state of the art wagering opportunities and up to the minute odds and lines.
The customer user interface enables the client to make wagers on Every Game 247. That’s right, a full offering of sports, including the NFL, NBA, NHL, Major League Baseball, soccer, NASCAR, golf, tennis, MMA/UFC and others whenever they want.
Wagers include futures, spreads, money lines, over/under, reverse, propositions and live betting. The client can’t tell whether they’re on a casino sponsored site or the one for their local bookie. It lends the bookie instant credibility and certainly helps with client retention.
The opening lines are generally set by the PPH provider, but the bookie has the ability to change them and make adjustments as they deem necessary. The adjustments can be made for the entire client base or for individual customers. The bookie can also manage other customer activities, such as wagering amounts and types, sports they can bet on and others.
Not having to take bets on the phone or through text gives the bookie time to manage their customers and the business. The software provides information about client betting patterns as well as how the bookie is doing with all wagering action.
Being able to look ahead and see what games and betting types present undue risk allows the bookie to determine how to proceed. They can change lines, adjust odds or limit bets on certain team or games. The cumulative data also gives the bookie information about what bets they do well with and which ones are a problem.
They can use that data to fine tune their marketing attempts to drive action toward the wagers that contribute most to profitability and present less risk. Having an equal amount of wagers on both sides of a bet is the goal for mitigating risk and accumulating profit. A PPH software can help facilitate a bookie in achieving that goal.
The financial management component keeps track of all bets, payouts and collections. The bookie can check on how they stand at any point and where they need to focus their collection efforts, if needed. The PPH software also offers the capability for bookies to accept payment up front and immediately pay out in the same manner.
The cash flow status of the bookie determines whether they can afford to settle in such a manner. Being able to take payments up front for online betting is a great feature, but only if it fits the bookie’s business and customer base. This is something that can also be done differently depending on the individual customer.
Another option for the bookie is to lay off undue risk on the PPH operator. The provider has a larger wagering base over which to spread risk and can assist the bookie in focusing on making their money off their edge. The less the bookie has to rely on game outcomes, the better the chance they will be very successful and profitable.
PPH software enables customers to bet on Every Game 247, meaning more action and higher profits for bookies that utilize the service.
