How Can Sportsbook Agents Make Money?
Sports bettors in the United States are familiar with the land-based sportsbooks located in the big casino properties on the Las Vegas Strip. Recent expansion beyond the state of Nevada into new sports betting markets in New Jersey, Mississippi and Delaware just to name a few have helped to grow and expand the overall sports betting market in the US.
Another highly popular way to bet on sports is through the betting sites of big, commercial online sportsbooks catering to US players. Given the combination of both land-based and commercial online sportsbooks, one might get the impression that making money as an independent sportsbook agent would be tough to do.
The reality of the sports betting industry in the US dictates that private bookies running and managing an independent bookmaking operation still handle close to two-thirds of all the sports bets placed in the country. Aided by a Pay Per Head business model for bookie sports betting software solutions, the barriers to entry actually remain rather low.
Private Sportsbook Agents
Working for yourself has been the American dream ever since this country first gained its independence close to 250 years ago. Unfortunately, running a successful business that can meet your financial needs over the long haul is not as easy as it seems.
The two key ingredients needed to start any new business are supply and demand. It has already been determined that the supply of sports bettors in the US is at an all-time high. With this high demand, it has also been noted that today’s sophisticated sports bettor is looking for a higher level of customer service and personal attention to their online betting account that the big, commercial sportsbooks cannot supply.
This opens the door wide open for a private sportsbook agent working with the right price per head bookie software solutions package. As a private bookmaking agent, you can supply the higher level of customer service that today’s sports bettor is looking for. Best of all, you can basically hand-pick the sports betting customer base that you wish to work with.
Your PPH service’s operating system is designed to handle the day-to-day transactions that go into booking sports bets. This creates a situation that lets you spend most of your time building and growing your overall customer base to best meet your specific business goals.
Making Money as a Private Sportsbook Agent
Successfully running and managing your own independent bookmaking operation as a sportsbook agent still requires hard work and careful planning. Working with the right price per head shop is a big part of the equation, but so is staying way ahead of all the daily betting action coming in. Even the best sports betting software solutions will be worthless if you do not learn how to use them.
The Pay Per Head business model is designed to be easy to operate in a very turnkey fashion. Real time analytics through any number of business reports can help you track the betting action on a daily, weekly and monthly basis. Individual online account profiles for each of your betting customers allow you to drill down as deep as you want into these stats. The ability to set and move your own betting lines as well as change your betting board to best meet your needs is a crucial aspect of sportsbook management.
The burden of making money as a sportsbook agent still falls squarely on your shoulders, but your chances for success are increased dramatically if you work with your price per head shop as a valued business partner.
Increasing a Sportsbook Agent’s Hold Percentage
The basic way any bookmaker makes money is the difference between the winning bets paid out and the losing bets collected plus the 10 percent commission charged. The difference between the two is often times referred to as a agent’s hold percentage. A few of the basic factors that affect a hold percentage are as follows:
- Total Weekly Betting Volume
- Balance Betting on Either Side of a Bet
- Betting Limits on an Individual Basis
- Betting Options on an Agent’s Total Betting Board
All four of these areas need to be addressed on a regular basis to create a hold percentage that can meet and hopefully exceed your overall profit goals.