MLB is one of the only major sports leagues that are in play during the summer, so be ready to take on a lot of baseball bets as the season gets going and the other sports leagues complete their seasons.
For a bookie, MLB betting sometimes seems like it’s favored towards the bettor. There are so many games to manage with 30 teams, each playing a 162-game schedule. Plus, there are a ton of bets in each game. It’s difficult to manage all those lines and keep them all sharp. Guys that know how to win at betting on Major League Baseball can have their bookies at a disadvantage.
Why Limit Players’ Bets
Limiting your players’ bets is always a good rule of thumb especially when there are so many potential bets to manage. Your players can always get in touch with you if they have a big bet they want to make. This way you don’t get caught off-guard. You might think you’re limiting your income but it’s better to be in control of your business rather than always having to worry about getting your bases stolen, especially if you have a lot more than 4 bases.
But even with betting limits put in, it doesn’t take much to get your book lopsided. That’s why you need to move those lines whenever the bets get too heavy on one side. Setting limits and moving lines are two great tools to use when managing your sportsbook during MLB season.
This isn’t Your Standard Book Report
But how do you know which lines to move and what limits to put in? If your bookie software has a reporting function, it’s a good idea to use it and see where your biggest risks are. Run reports whenever you need a clear picture of your book, especially when things get hectic.
There are all kinds of reports you can run. Find the ones that work best for your business. Or if you’re not happy with the ones available, see if you can customize your own.
Running reports not only shows how your players’ bets are distributed, but they can also show you how well your business is doing.
Futures and Your Layoff Account
A place where you might not worry so much about limits is your futures bets. That might seem odd considering the amount of betting money that can accumulate for the teams picked to win the World Series. It can end up being a sizeable amount over the course of the full season. You have the option of moving the lines if you like but there’s an even better option.
For example. Say you currently have a lot of bettors putting money on the Los Angeles Dodgers to win the World Series this year. You can run a report to see how much money is bet on other teams to win. If it’s too lopsided, you can use your layoff account to balance things a bit. Or you can wait till the playoffs start to see which teams didn’t make it. If the Dodgers didn’t, you’re home free. If they did, you can use your layoff account here or continue to wait it out till all of the other teams are eliminated and we’re down to the last two teams for the World Series.
If the Dodgers are one of those teams, you can use your layoff account to bet on the Dodgers to win as well. The odds will be much different at that point so you’ll have to use some math to calculate your best way to be as even as possible.
The idea is that the layoff account can be used in many creative ways to keep your business safe. It won’t make you money but it can be used to keep you from losing money.
Futures bets are a great place to use your layoff account. The great thing about futures is that you have lots of time to analyze the bets coming in. This is especially true of the bets for the World Series winner at the beginning of the season.
The best part of the layoff account is that you can keep it as a last resort. It’s a lifeline when all else fails and you’re still not comfortable with the amount of exposure your sportsbook has.
Is Your Bookie Software Giving You What You Need?
BossAction provides its agents with a layoff account which they can use whenever their book gets too lopsided. We’ve also got an exceptional reporting system so you can see at a glance what’s going on with your sportsbook. It’s even customizable.
You can set any player’s limits and move any lines to keep your book as balanced as possible. But if you’re ever stuck, or have a problem, you can always get in touch with our knowledgeable customer service who are always available to help.
Transfer over to BossAction now and see an average increase in profits of 23% no matter what size book you currently have. If you want to grow your bookie business, give us a call now and become a sports bookie Boss. 1-800-339-4108.