As the NBA playoffs progress, the bets can get hot and heavy. You want to let your players make as many bets as possible, but things can get overwhelming if you get a lot of action all at once.
This is especially true at the beginning of the playoffs. There are 16 teams to manage, with bets being placed on the teams as well as the players. It’s easy for the bets to get heavy on one side before you have a chance to do anything about them.
As a bookie, managing your players is the most essential part of your sportsbook. If you don’t do things right, you can lose all your money in a hurry. If you only have a few players, it’s not too hard to keep an eye on everything. The problem with that is that you aren’t going to make much money.
You want a bigger book that gives all your players lots of opportunities to place bets and make you lots of money. But you don’t want to be stuck managing your book all the time.
Set Limits to Keep Things Calm
The easiest way to manage your bookie business as it grows is to set limits. If you set limits with your players, you don’t have to worry about them making a large bet that can risk your bankroll. If one of your players wants to make a bet that is higher than their limit, they can simply call you and ask for an increase in the limit for that bet.
This will give you the time you need to move the lines to entice offsetting bets. But even if you can’t balance that bet, you still have another tool you can use to mitigate any risk on your part. You can use your Layoff Account.
Using Your Layoff Account to Reduce the Risk
Bookies like to take on as many bets as possible because that’s how you make extra money. But there are times when the limits you put into place are not enough. You still run the risk of taking on a loss if too much money has accumulated on one side of the bet.
For example, let’s say most of your bettors live in your town, which happens to be Boston. Whenever the Celtics are playing at home, the bets tend to be heavily in their favor, especially if they are doing well. This is where you would move those lines a little against Boston. You would also double-check those limits.
What if one of the better NBA players got injured just before the next playoff game, and everyone bets against that team before you have a chance to change the lines? Layoff account to the rescue. It’s not something you would use on a daily basis because you don’t make any money when you use it. And you certainly don’t want to use it as a player and make your own bets. That’s a recipe for disaster.
Get a Leg Up on Managing Your Sportsbook Better
If you’re just starting as a bookie with a few players, or you only provide betting on one sport like the NBA, you can manage your sportsbook pretty easily. But as you learn and add more sports and players, it’s helpful to use a sportsbook platform that can make your life easier.
When you’re first learning, it’s best to be cautious and keep your limits tight, but as you get comfortable and have sound systems in place, you can start easing those limits with your regular players. It’s still good to start new players on a tight leash while you get to know how sharp they are, but once you get to know them, you can loosen those limits if it makes sense to do so.
You don’t need to have the same restrictions or learning curve with your layoff account. Don’t use it for anything but a tool when you are stuck and need to eliminate a high risk to your sportsbook.
BossAction not only gives you access to your own layoff account, but it also lets you manage all your player limits as a group or individually. We also have management tools to show you how well your book is doing at any given time.
BossAction has the best PPH sportsbook software that helps bookies manage larger books successfully because of features such as our built-in management tools. You can customize the reports to give you the most vital information to keep your book growing and making more money.
That’s why bookies that transfer over to us see an increase in revenue. We make it easier to manage your book and keep it healthier and in the black. Join now during our 2-week free promotion. Be a Boss agent for $0 per head for a full 2 weeks!
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