Switching to a Price per Head Service Can Increase a Bookie’s Hold Percentage
Many people, especially those who are considering going into the bookmaking business, wonder how bookies make money. Well, it’s really just a matter of some fairly simple bookmaking mathematics. Knowing how things work, however, can be helpful, especially for the beginning bookie. That’s because having a strong understanding of the process means knowing when you’re doing well and when you’re not. It can also help you to make tough decisions at just the right time and, overall, to be more successful in your bookmaking business.
The most important term you can ever know is “bookie hold percentage.” The bookie hold percentage is basically an indicator of the bookie profits. This percentage represents the winnings and losses of a player dependent upon their volume of wagers. Take a player who has placed $200,000 in bets for example. If that player loses $20,000, you would then have a bookie hold percentage of 20%.
In other words, the hold percentage is your bookmaker winnings. Many things can affect your hold percentage though. One big thing is the sharpness of your lines. If your lines are sharp, constantly monitored, and change when they need to, you’ll most certainly bring in more money than if your lines are loose and sloppy. Having tight lines means having people watching them round the clock and having the ability to move them yourself as you see fit. Only the best services will make all of this possible.
Your hold percentage is also affected by what risk management tactics you employ. If you’re watching your players closely and kicking out or curbing sharp bettors as needed, you will make more, plain and simple. Of course, keeping an eye on players can be tough, which is why it is so important to have a service that makes detailed player reports easy to access and that provides you with useful risk management tools. You’ll want tools like the “Big Bet Alert,” which instantly lets you know when a player places a bet over a certain amount, and tools that make it possible to stop, limit, or otherwise customize action on a per-player basis.
The more control you have over your business and the more diligent and watchful your service is, the more success you are likely to have as a bookie. So, choose your service wisely for best results.