If you have been around the sports gambling business either as a gambler or a bookie, then it’s a guarantee you have heard the old saying “the house always wins”. Well, let’s say this… we may not know it all, but we have learned a thing or two, and we know this saying is simply not true. The house doesn’t always win.
There will be times when you are riding high, raking it in, and celebrating your fortunes. There will also be times when you think you’re done, cooked, and maybe even consider walking away. Remember, this is a game you are playing, you are no longer the gambler, but now you are the “gambled against”. Every client that you have wants to beat the pants off of you! Let’s talk about the NFL. There are indeed pros and cons to offering this sport, how do you manage them?
- Set a budget: You must have several budgets for your sportsbook. The NFL is a sport that if you fail to follow a strict budget, you will be sunk. You need to set a budget for every sport you offer, not just the NFL, however, the NFL is one of the most important sports to your success or failure.
- Know your limits. How much will you let clients spend on a bet? What bets will you take, and what bets will you say no to? Small or start-up bookmakers must be careful. Think of it this way… You start your business with $1,000. If you allow clients to place a -110 bet for $110, that bet pays them $100, plus their $110 back. If you lose the bet, you have just lost 10% of your wealth. Are you willing to risk 10% of your wealth on one bet?
- Many bookies start small and with big limits. If your entire net worth is $1,000 to start with, then you are going to have a slower time building your business. We won’t say that it can’t be done, but you will need to practice extreme caution.
- Remember, you are in the gambling business just like the gambler is. The difference between him and you – you are the one offering the bet. You don’t get to make the choice – who you like or don’t like to win the game. You may cringe when clients come in and bet exactly what you think will happen; if you were the gambler walking into a sportsbook – you would be placing the same bet that he just did. Do you see the conundrum?
The above paragraph is a common example that happens way too much to local bookies (small bookies). In essence, you are simply gambling with your clients. You may as well walk into the sportsbook yourself and gamble. This way you can gamble on what you think the outcome will be.
- To combat this problem, you MUST have cross action and plenty of it. This is why ‘juice’ exists. Way back in the “good old days” of the first organized, and legal, Nevada sportsbooks – the bookies quickly realized that a handshake over a friendly wager was not good enough. The best teams in the NFL usually beat the bad teams. YES, of course, anybody can beat anybody on any given day, but at the end of the day, the better team usually wins. This means the sport is much too predictable to offer up bets without some kind of risk to the gambler. Therefore – the juice was born.
Find a great pay per head—
- The pay per head is the ultimate friend, the consummate guide, and exactly what you need to succeed as a bookie, on any level. The PPH (as it’s known), will custom build your gaming website for free of charge and will have your clients playing on a real, and working .com gaming site – in a couple of days.
- The PPH does everything for you except for collecting and paying money, however, they will help you find the best solutions for deposits and payouts.
If you want to build a loyal client base, then give them something they love, give them what they can find in 3 minutes, on Google. Call a great PPH today and get started for free. You will be glad you made this decision; we guarantee it.
For more info please click the following links:
Boost your sports product
Tips for a Master Agent: Methods to Grow Your Network
Maximize Your Profits
Steps to Build a Business On a Budget
How Can Sportsbook Agents Make Money?