Most pay per head agents wish to become master agents. Becoming a master agent means always looking to grow your bookmaking business. One of the best ways to grow your bookmaking business is to promote wagering in the online racebook.
Effective online racebook promotions can turn it into a personal piggy bank. Check out how master agents can do that.
Make Your Online Racebook Go Cha-Ching!
Before promoting horse racing betting, bookmakers must set up their racebooks for success. Master agents especially must set up their online racebooks for success. The efficient online racebook requires two different sets of betting limits. See below for what those are.
Set max per race betting limits – A max per race betting limit determines how much money a single player can win on a single race. For larger off-shore sportsbooks, this number is usually around $5,000. Some off-shore sportsbooks allow for $10,000 to be won on a single race.
Because most master agents, including you, don’t run a multi-million-dollar offshore sportsbook, it’s important to set smart per race betting limits. $1,000 for many agents makes sense.
Set total race wagering limits – It’s also important that pay per head master agents set total race wagering limits. Total race wagering limits create a total payout exposure for the entire race. If the total race wagering limit is $5,000 for the entire race, agents should make sure to take the race off the board if the total bet hits $5,000.
Payout exposure can become a problem even with total race wagering limits. Setting max race bet type wagering limits can alleviate this issue. For example, the most that a player can bet on a horse to win might be $100. The most a player can bet on an exacta might be $50 total.
Educate Sports Bettors on Horse Racing Betting
This might be the easiest thing to do. Horse racing betting can be a lucrative venture for many sports bettors. It’s all about odds. Here’s a method that per head master agents can use to encourage wagering in the online racebook.
- Compare horse racing betting to parlay bets – The odds on a 2-team parlay is 2 to 1. The odds on a favorite in a horse race is likely to be 2 to 1 or higher.
- Discuss the ability to win a lot of money for a small investment – If an exacta pays $30 for a $2 bet, a $10 exacta wager pays out $5 x $30. That equals $150.
- Horse racing provides plenty of choices – There’s almost always 2 to 3 tracks running every day. On New Year’s Day, Gulfstream Park, Turf Paradise, Santa Anita, and the Fair Grounds all ran horse races.
The bottom line with the online racebook is that it’s incredibly difficult for players to consistently win. This is the best reason for per head agents to promote racebook betting.
Right now, BossAction.com is offering its Premium Plan for only $10 per head. That’s a great deal. Master agents will also get a 5% rebate on initial Bitcoin or Ethereum deposits. For more information about the sportsbook software, master agents should call a BossAction rep at 888-978-0488.