Bookie Software Tools

When it comes to being a successful bookie, what will really skyrocket your profits is how you use your bookie software.

Because what keeps most pay per head bookies broke is generally not that they don’t know how to run their shop, it’s that they’re unaware of how to use many of the tools provided in their sportsbook software.

Here are the best bookie software management tools you should use to boost your profits to another bracket.

1.       Credit Limit Override

As you know, there are sports events throughout the year that can line your pockets with cash that can keep your book afloat for a rainy day (and, there’ll be plenty of those).

Take for example March Madness; last year, there were 70 million brackets and well over $10.4 billion (yes, you read right) in bets taken in the NCAA Tournament.

At around $29 per bracket, when you do the numbers that’s a pretty penny you can potentially snare as profit, would you agree? Yes, but with so much money bet on events like this what happens if there’s a chokehold placed on the money coming in because you’ve limited your player’s credit?

If this isn’t your first rodeo, you probably know that a ton of players will wait until the last minutes before games start to make their bets.

So, a few hours before games start, it might pay off big time that you schedule a credit limit override to allow your players to take more action in your book instead of your competitor’s.

Just make sure you let them know that they have more credit, otherwise it won’t work because if a tree falls in the forest and there’s nobody there to hear it…well you know the deal.

2.       Max Bet Limits and Mass Edit  

This is a real time-saver and as you’ll learn it also helps you avoid your book’s profits from going up in smoke faster than a New York minute.

Prop bets aren’t offered for most sports events, but in those where they are, such as the Super Bowl, you want to place max betting limits on these types of wagers.

This is especially true for silly bets, such as how long will the National Anthem last. You seriously don’t want to be wiped out by Joe Blow who sneaked in a $1,000 bet on you on a prop bet (it’s happened).

If you want to avoid losing your shirt and not have to pay out a ton of cash on someone betting on the coin toss (a 50%-50% probability) then place a limit on prop bets.

Also, because of the dozens of prop bets that are usually offered you want to save time by using the mass edit tool to quickly get the work done. Just select all prop bets and impose the limit you’re comfortable with, it’s that easy.

3.       Hold Percentage Report

Do you know your hold percentage? If you don’t, then you might be bleeding profits as you read this.

The percentage of the money you keep after you’ve settled all the bets is your “hold.” You can calculate your hold by dividing the gross winnings by the gross amount of money in the bets you took.

Your hold percentage is what really determines your profitability as a bookmaker. And, calculating your hold percentage over time is what’ll separate you from being a rookie bookie and a pro.

For the most part, you want to keep your hold to above 5% of revenues. That’s how much in general Las Vegas casinos keep in sports betting.

Your target should be to keep around 10%, but most likely it’ll be between 5% and 10%, that is if you know how much your hold is in the first place. (Hint: You can easily tell your hold by using software for bookies).

If you notice your hold is falling below 5% of your total volume of bets taken, then it’s time to use the next tool…

4.       Player Winnings Report

Do you know if there’s a player lurking in your book that’s killing your bottom line? You should.

You might have a handle on things when you’re only managing ten players or so, but when your book starts to grow into the dozens of players things can get out of hand fast.

That’s when a sharp can hide among the bushes and really hurt your profitability. But, it’s also when you can use your bookie software to identify and kick out the culprit if you have to.

The player winning report will help you see each and every one of your player’s daily figures. But, because most of these guys will want to stay under the radar and milk you until they’ve sucked your book dry, it’s important you look at the weekly and monthly figures as well.

If you’re doing it the hard way, by hand, then good luck because as we mentioned above, it might be easy when it’s 10 players but it’s a nightmare when you have dozens of players to keep track of.

5.       Player History

When you’ve been in the business for a while, there’ll come a time that you’ll face a losing week and sometimes it’ll be due to a player going on a hot streak.

Do yourself a favor, don’t freak out. Just keep an eye on them; most times they’ll end up losing in the long run but if you kick them out on a whim you might end up losing a square player that can bring in loads of cash by thinking you’re dealing with a sharp.

For example, let’s say you identify a player that’s won a significant amount of money so before looking into things you jump the gun and decide to kick him out (after paying the bets, of course).

However, without looking into the player’s history you didn’t notice that the winning bet was a 7-team parlay (that player’s usual bet type). If you know a thing or two about parlays, you know they’re often “sucker” bets because they’re often really hard to win (and, a 7-teamer is practically impossible) which is why you could have just shot yourself in the foot by not looking at player history before making a rash decision.

Do yourself a favor and use some sort of bookie management software and start working like a pro and not as a greenhorn. This takes us to the last item on this list, which isn’t really a tool but rather a pay per head bookie tip.

6.       Use A Layoff Account

Not every pay per head offers a layoff account, as well, you should carefully consider using one because you might end up not making the maximum amount of money in the process. But first, what exactly is a “layoff account?

Not to state the obvious, but a buck gets ten that you became a bookie for the money, right?

That usually means that you’ll want players to lose as we’re sure you’ll agree. But, what if we told you that there are some circumstances when you’re actually expecting to lose? Yes, as crazy as it sounds sometimes losing is the best way for you to secure a profit when the situation calls for it.

A “layoff” happens when sportsbooks place a wager at another book in order to reduce the liability on a given game or when they want to balance out the action.

Let’s say the Patriots are playing the Falcons on Monday Night football in Atlanta and everyone and their uncles have bet on the Falcons big time.

If the Falcons were to cover the spread then you could stand to lose a lot of money and that’s not good.

How can you avoid this? Well, if you could minimize your risk by placing a bet at another book on Atlanta by which if the Falcons do cover you’d be making money on the winning bet, right?

Conversely, if the Patriots happen to cover, you would still make money from the bets you took in your book which will cover your lost bet at the other sportsbook.

In other words, if you find yourself in hot water because you’ve taken too much on one side of a game then having a layoff account probably makes sense.

There you go, 5 bookie software tools to help you increase your profits! 

How about it, are you ready to start with best pay per head around? Start today by getting a free quote