Companies like BossAction provide features and tools that allow any person to start and run a successful sportsbook. The sportsbook software provided is so useful that many bookies don’t know how to ensure profitability. Check out tips on how you can make your sportsbook soar.
Bookies that become pay per head agents do so because they wish to become more efficient. Running an entire sportsbook on an excel file won’t lead to profit in today’s world of digital casinos and racebooks, video streams, and betting on even obscure sports like bowling and darts.
Today’s sportsbook operators require top bookie software to ensure they can provide all the sports offerings that their players crave and make money from running a gambling website. Even those that run small sportsbooks require some technology to ensure they don’t lose money.
BossAction provides the best sportsbook software in the industry. But how can a sportsbook owner become a bookie that makes money? Here is a list of things you can do to ensure your sportsbook continues to make a profit and grow.
Offer the most and best betting platforms
Contrary to what many believe, pay per head agents require almost zero knowledge of sports. One reason is that players, the agent’s customers, have a vast knowledge of sports. Players know all about sports.
They also know all about casinos and horse racing. The typical sports bettor understands betting on craps, blackjack, baccarat, roulette, and the ponies. When a business owner mustn’t educate their customers, it’s easier to sell their products.
In your case, products are services. Per head agents provide wagering services. An agent’s customers sign onto their accounts, click on the platform where they wish to make a bet, and then choose the game, or slot machine, or horse race, on which they want to wager.
Because you provide services, bookies like you must ensure they offer as many services as possible. You want to run a white label sportsbook, not a typical sportsbook. When a player heads to their account on your company site, they should have access to every possible available sportsbook software betting platform.
- Live betting
- Digital casino
- Live dealer casino
- Horse betting platform
A pay per head service that offers all available platforms won’t lead to the most success, though. Bookmakers who want to make the most profit possible and wish to grow their sportsbook businesses must offer more than typical platforms.
Instead of providing a sportsbook with baseball, football, and basketball, offer one with more sports offerings. Who knows? Your players might want to wager on rugby, international soccer, cricket, and ping pong.
Instead of a typical online casino and live dealer casino, offer a premium casino, and a premium live dealer casino. Premium casinos offer the newest and most popular slot machine games. Premium live dealer casinos provide more blackjack tables, the most popular card game to play on every live dealer platform.
Make sure your racebook provides wagering on as many tracks in North America, the UK, and Australia as possible. If Japan or Hong Kong runs races that day, ensure your players can wager on those tracks as well.
Not all live betting platforms are the same. The BossAction Live+ platform provides your players with a game tracker and video streams. When players can watch games and use game trackers, they make more live wagers.
How to run a small sportsbook with pay per head tools
The first rule is to set max payout limits and max betting limits on all moneyline and parlay bets. Successful sportsbook operators do this because it’s challenging to use the layoff account on parlay bets and moneyline bets.
Set max payout limits on all horse races. Set limits according to your sportsbook. If you run a sportsbook with around four players, maybe the max payout is $500 to $1,000 on any horse race or game.
Don’t overuse either your line mover or layoff account. You can use the line mover to build customer loyalty. Say one of your top players calls you and asks for a line different than the one on your sportsbook platform. Give them the line if it makes sense to do so.
Don’t change lines more than half a point one way or another. Instead, take the wager off the board after a huge bet, or cut risk with your layoff account.
Keep cash flowing with the Agent Payment Solution
Open up any book on how to run a business, and you’re likely to see the words “cash flow” at the top of the first page. For most companies, cash flow is the name of the game.
Your sportsbook is no different. BossAction is the only per head company in the industry that provides a way for you to ensure cash flow.
The Agent Payment Solution allows you to make online payments and collections. Bookie agents use the Agent Payment Solution so their pph sportsbooks have excellent cash flow. Your inventory is wagering options. The quicker you pay your customers, the faster they check out your inventory for their next betting option purchase.
Find ancillary revenue streams
Large companies invest in other large companies. If you look at who owns Google stock, you will probably find that Facebook executives have invested in Google.
For you, an ancillary revenue stream could be something like BossAction’s sportsbook software referral program. The program pays you $100 for each referred friend that starts a sportsbook with us. Then, you make 15% of your friends’ deposits for up to a year.
The $100 is a finder’s fee. Think of the 15% as monthly dividends. The money from the referral program and keeping the cash flowing in your book can add to a lot of extra profit. Import your players soon to start making additional cash.