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Bookmaking software doesn’t have to be complicated.
Key Points
– Pay per head bookmaking software makes owning and operating a sportsbook possible for anyone.
– Bookie software automates the sportsbook operation allowing bookies to engage in activities that can grow the business.
Bookmaking Software is a Bookie’s Best Friend
The wave of the future is already here in the sports betting industry. Bookmaking software has made it possible for virtually anyone to enter the market as a bookie.
Sports betting has become extremely popular and more accessible in the U.S. with legislation changes over the past few years. As more bettors enter the fray, more prospective bookies are doing the same.
Pay per head software is making it possible. Not only possible, but profitable. Building a betting base with PPH services is key.
What Is Pay Per Head?
Pay per head, or price per head, bookmaking software is a complete, turnkey, plug-and-play solution for bookies.
Pay per head services provide everything a bookie needs to start and operate a successful sportsbook. That includes a website where bettors can place bets, deposit/withdraw funds, check odds, and more.
There is a customer service feature as well as player reporting systems that help the bookie run a profitable business.
The pay per head software essentially automates the entire bookmaking operation. They make it easy to become a sportsbook owner.
How Bookmaker Software Works
When a bookie partners with a pay per head service, the bookie receives what is a fully functional online sportsbook.
In return, the bookie pays a fee to the service. The fee is a per player, or per “head,” fee. In the pay per head market, the industry standard is $10 per head.
If a bookie had 10 active bettors in a given week and the per head fee was $10, the bookie would pay $10 times the 10 active bettors or $100 for the week.
Remember, the bookie pays out on all player wins minus the juice and keeps all players’ betting losses. We recently broke it all down in our article, how much does a PPH service cost?
Turning a Profit – Risk Management
Making money as a bookie using a pay per head service comes down to understanding hold percentage.
A bookie’s hold is the amount remaining after he has paid out on all winning bets. Hold percentage is that amount as compared to all dollars wagered.
Bookies must understand that the higher his hold percentage the more profits he will make. As a standard, hold percentage should be at least 5 percent. Most bookies can expect a monthly hold percentage of between 7.5 and 9.5 percent.
Using Time to Grow Your Business
The greatest thing about operating a pay per head sportsbook is that the PPH service takes care of just about everything.
The software provides a wide variety of betting options. That way you can recruit all sorts of players to your sportsbook. The software also provides futures, props, and all sorts of specials. Bettors love options and bookies can give them just that when they find the right PPH company here.
One of the best features offered by pay per head services is the customer service component. Instead of having to answer the phone all the time and take bets, answer questions, etc.; the modern bookie leaves all of that for a fully staffed and functioning customer service department.
What all this does is free up inordinate amounts of time for the bookmaker. Instead of being bogged down by the mundane administrative tasks that come with running a sportsbook, the bookie is free to do what he wants.
The smart bookies will invest their time back into the business. They will market it in an attempt to attract new bettors. They will also review reports and determine how to encourage their current bettors to wager more often. These activities will help to build the sportsbook and, ultimately, the bookie’s bottom line.