pay per head secrets

Here are 10 pay per head secrets that can help you increase your chances of having success at being a bookmaker.

  1. Take Note Of Sharp Players and Wiseguys

There may be far and few between, but there are some people that make a living from gambling.

The best ones do very well. And, you would do well to pay attention to what they’re doing because they can usually give you tons of valuable insights as a bookmaker.

As your sportsbook starts to grow and you increase the players you have, it’s practically impossible to keep track of every sport, league, and team your players are betting on.

That’s when it makes sense to pay attention to where the wiseguy action is going because it can give you insider information so you stay ahead of the curve.

There are some sportsbooks that cater to wiseguy action and if you study what’s happening in those books, such as big line movements, it usually means that something is going on beneath the surface that you should look into.

  1. When You’re Starting Out, Don’t Bite More Than You Can Chew

Even if it’s likely you’ll be dealing with many more “squares” than professional bettors, if any, it’s always a good idea that you keep an eye on the sharp action.

While there’s no hard line to how you should run your pay per head sportsbook, it’s probably best that you stick to “square” players when you’re starting out.

What’s a “square?” This definition defines one as “a novice when it comes to sports betting.”

But, a square doesn’t necessarily have to be a complete greenhorn. Most people, in fact, are squares because on average less than one bettor in twelve turns a profit in betting.

For the most part, average bettors make their betting decisions based on hunches, media hype, or some cockamany system they’ve come up with.

Squares are the bread and butter for most sportsbooks because they’ll lose more often than not. And, because squares aren’t privy to how sportsbooks make money, it guarantees them easy profits.

On the other hand, you should be wary of “sharps” because they’re usually part of betting syndicates that have up-to-date information on games, injuries, weather, game plans, and practically anything related to the team they’re betting on and the bets they’re making.

Many books have been wiped out clean because they were burned by sharp action, which is why you’ll usually find disclaimers that bar these types of players from taking action.

If you want your fledgling bookie business to take off, stick to squares and avoid sharps unless you really know what you’re doing.

  1. Being A Sports Bookie Is Good, But Don’t Leave Money On The Table

If you only take action on sports, you’re leaving a ton of money on the table. You can increase your revenues by offering your clients casino betting which is typically a big profit center that keeps people playing in-between sports seasons. Especially when you have a live casino, you can watch your revenues soar because most bookies can’t offer these services.

There’s also horse betting which many bookies neglect but that can make some big-time money. Sportsbooks collect a big chunk of every dollar bet on horses, as much as 18%, whereas the hold for sports betting is around 4.5 percent. If you're not offering horses, you're probably cutting your revenues short. 

Don’t leave the low hanging fruit lie, take advantage of the opportunities that allow you to increase your book’s bankroll.

  1. Cash In On The Football Season

As any seasoned bookie will tell you, the football season is the king of profits for sportsbooks. NFL betting is by far the biggest money-maker for bookies with no other sport coming close.

Even March Madness, on which people bet millions on, is eclipsed by the pro football handle. Since so much money is bet on football, the lines are also the sharpest which usually means plenty of money to line your pockets if you play your cards right.

Start preparing for the football season early; if you have any promotions, make sure to communicate them to your players to secure them for the entire season.

Most players won’t switch books once the season starts and since gamblers will usually take action every week it means you can make maximum profits without a lot of work.

The football season can be a time for you to build a cushion of money for the low season. If you only offer sports betting, this is especially important because you might find your bankroll dwindling in waiting for the next NFL season.

  1. Don’t Play Around With House Money

If you forget that your sportsbook is a business, you can be guaranteed that you’ll be buying yourself a one-way ticket towards disaster.

Owning a pay per head sportsbook is good business provided you learn how to manage it properly.

As in any other business, there are always risks but if you start to gamble with your house money by making poor money management decisions you’ll quickly find out how easily you can go broke.

Know how much money you have and if it’s enough to cover the bets you take. There will always be bad weeks in this business, but if you don’t have enough money to pay your players it’ll be a quick burial for your business.

  1. Check Your Ego At The Door

You may think, or even know, a lot about sports and that’s important in this business. But, don’t let that get in the way of running your sportsbook with time-tested bookmaking principles.  

As all great bookies know, you can’t win every decision or have a crystal ball on what a line should be. You should understand how to move a number and know how to balance your book.

Even if you think one side is an iron-clad lock, don’t put your operation at risk solely on the basis of your Jedi Knight clairvoyant powers.  

  1. Don’t Cut Your Bettor’s Choices Short

There are hundreds of offshore sportsbooks out there that are happy to steal your lunch by offering players bet types you don’t offer.

The best bookies have an ample menu of choice when it comes to betting options. Don’t stick to straight bets, offer first halves, half times, live bets, totals, props, parlays, and teasers.

Remember, you usually have the upper hand over square bettors so the more options you give them to bet the more money you stand to make.

Even while you may be hesitant about offering these types of bets, rather than not giving them the option consider placing a limit on how much action you’ll accept for these types of wagers.

Also, some bets such as parlays are very hard to pick correctly. While the payoff for a 4-team parlay, for example, can be 13-1 it’s very difficult to accurately pick four winners. Most bettors think they know a thing or two of the picks they make, but in reality, these are usually sucker bets that will fill your coffers with money.

  1. Don’t Price-Rape Your Clients

While you may think that holding an insanely high percentage is a good idea, things usually end up backfiring when you price-gauge your players.

Even if it’s true that no one is in the business of losing money by having some wiseguy clean up by cherry-picking an inflated line, you shouldn’t make average Joe’s pay because you run an inefficient market.

If you do your job well and have sharp lines, then there’s no reason why you should pick the bones off of your players with high-priced lines. Besides, players aren’t stupid these days and they can quickly find out whether or not you’re offering them a high price that only suits you. If you’re taking your players to the cleaners, they’ll jump ship to find a better offer.

Get to know your players and learn how to tell a wiseguy from a square and make a decision based on this knowledge. Don’t kill your cash-cow because you’re afraid that a wiseguy will sneak into your book.

  1. Don’t Mislead Your Clients

Running a successful shop is hard; it’ll be even harder if you willfully mislead and confuse your clients.

Give your players accurate information and treat them right. Even if you don’t have to give away the house, be fair with the information you share.

Rest assured that if you respect your clients and treat them fairly, it’ll pay off in spades.

  1. Work With People That Have Experience In The Industry

Would you trust anyone but a surgeon to operate on you? Of course not, then why would you trust an inexperienced pay per head to (mis)handle your sportsbook?

There are plenty of good pay per heads out there, but experience matters in this business.

Unless you want to rely on a pay per head services operation only because they’re cheap, instead of working with a serious company with enough in-the-trenches experiences to help you grow your business, then it’s likely you should reconsider being a bookie.  

Understand how to choose the right pay per head and hit the ground running. Trust us when we say that experience matters when it comes to running a profitable sportsbook.