Running your own independent sports bookmaking business can offer any number of challenges given the unpredictable nature of the Internet sports betting industry so having the right Pay Per Head service by your side can make all the difference in the world.
Modern technology has been able to level the playing field between the private bookie and the large offshore sportsbooks operating online, but you need to know how to put these advances in sportsbook management solutions to work for you. Control is one of the most important aspects of long-term success in this industry and real-time information is one of the best ways to achieve this goal.
Today’s top price per head providers have all made the necessary investments in their online sports betting software packages to help keep independent bookmakers like yourself well ahead of the curve in a rapidly changing business environment. However, it is up to you to make the most of everything they have to offer to get the most out of the weekly per head fees you pay.
A great starting point is through the backend access to your PPH service’s online gambling software. There are literally dozens of different business reports that you can put to work for you. Starting with something as basic as creating an individual account profile for every one of your betting customers, this is where you can begin to create that level of control needed in a business of this nature. These account profiles can include any credit and betting limits that you want to put in place to help protect your overall bottom line.
Player reports that track daily, weekly and monthly betting activity on an individual account basis are another great way to get a solid handle on your overall bookmaking business. Just like a professional sports handicapper studies trends and tendencies of a particular team, you will be able to uncover betting patterns and habits of individual players over a certain course of time. These patterns and habits can actually be used to your advantage as an independent bookmaker in terms of tailoring your betting offerings to meet your customer’s needs.
As mentioned, this can be valuable real-time data that is only available because of the high level of sophistication in your Pay Per Head service’s sports betting software. Another goal of any private bookie is to eliminate surprises that could lead to some unwanted negative exposure. Using player reports as well as other tracking reports for all the daily activity coming in is a great way to monitor your overall operation. You always want to stay way out ahead of things so you can act on additional opportunities as opposed to reacting to issues that are suddenly out of your control.
It does take a certain amount of discipline to use your PPH service’s reporting capabilities on a consistent basis, but this type of attention to detail is vital to not only the day-to-day operations, but to the long-term financial health of your business. The best course of action is to get into a daily, weekly and monthly routine of carefully analyzing the information that is going to have the biggest impact on things such as cash flow, profit and your overall bottom line.
You need to embrace technology to succeed in today’s highly competitive environment. An overload of information can be intimidating at times; however developing the ability to put this information to work for you is vital to your continued success as an independent sports bookmaker.