After the NFL for football, the NBA is the next biggest professional sports league in the US sports betting industry. This year’s regular season gets underway on Tuesday, Dec. 22 with a pair of matchups followed by a full slate of games the next day.
Plans call for a full 72-game schedule followed by the playoffs leading up to the NBA Finals. This creates a tremendous opportunity for private bookies working with PayPerHead247 as their sports betting software provider.
Based in Costa Rica, PPH247.com has been helping independent bookmakers run and manage a profitable operation for more than 20 years. The ownership group has a wealth of experience in sports betting along with a keen understanding of online gambling software solutions.
Understanding Your Handle and Hold Percentage
The two most important business metrics for private bookies is the overall handle and the hold percentage taken in. You need both to build a business that is big enough to support your individual financial goals.
While the handle pertains to the total amount of betting action you book, the hold percentage on that handle is how you make money. Your hold is the difference between the money paid out on winning bets and the money plus commission (juice) collected on losing ones.
Ideally, you want your hold to fall between five and 10 percent. Anything lower than five makes it much tougher to reach those goals.
Increasing Your Handle
PPH247 has in-house sports betting experts working with the best external oddsmakers to expand your betting options for every major sport. Most of the action taken in cover straight bets on the spread, total and money line for NBA games.
However, you can expand your board by offering quarter and half lines, alternative spreads and totals and a host of game, team and player props.
The goal is to increase the amount of money bet on the games without having to increase your overall customer base. It is far more profitable to have 50 customers betting $500 a week than 500 customers betting $50.
By building out your NBA betting board with as many betting options as available, you are also leveling the playing field with the big commercial online books. You want to make sure that everything your customers are looking to bet on is available through your bookmaking service.
Increasing Your Hold
By offering a diverse betting board offering numerous options to generate some action on the games, you are increasing the win probability in your favor.
As with NFL games, sharp spreads and totals for NBA games are basically a 50/50 proposition. Additional wagering options tend to give the house a slightly better edge. This higher edge translates directly to a higher hold on those particular bets.
PPH247 offers a full complement of real time business analytics that track every aspect of your bookie business. You can drill down as deep as you want to get a better understanding of where you are making your money. This can help you create a betting board that best meets your financial needs.
Now is the time to put together a comprehensive business plan for the upcoming NBA season with the help of PPH247. From advanced sports betting software solutions to an in-house staff of industry experts, you will have everything you need to make this the most profitable season ever.