The online sports betting industry continues to evolve with advances in specific applications that can enhance the experience for avid sports bettors. Big commercial online sportsbooks go to great lengths to attract sports bettors to their online betting sites. However, today’s sophisticated player is looking for the value-added experience a private bookie can bring to the table.
For anyone adapt at running and managing an independent sportsbook, they know that their biggest advantage over the big online sportsbooks is the higher level of customer service and personal attention to detail a private bookmaker can provide and they cannot match.
Working with a quality pay per head provider for the proper online sports betting software solutions, a private bookie has access to everything the big online books use to power their million-dollar websites. Best of all, everything is included for a low weekly fee for each active betting customer.
The Basics of Live Sports Betting
One of the more recent advances in the online sports betting industry is wagering on actual games after they have gotten underway through a dynamic live betting platform. This added feature may cost extra with certain pay per head bookie software plans, but it is well worth the added investment.
Live in-game betting is the ultimate way sports bettors can add even more excitement to the action taking place on the field, court or ice for just about every major sporting event. Betting lines are constantly updated based on what is going on in a game. Possible live bets can range from which team wins the next quarter, period or inning to a ‘what happens next’ during a particular time frame.
For example, a live betting platform allows bettors to wager on the next drive of a football game in terms of what will happen. Bettors can wager on a field goal, touchdown, punt or turnover as a possible outcome on a drive-by-drive basis throughout the game. Dynamic lines are always in motion and frequently updated during time outs and commercial breaks.
Add Bottom-Line Profit with a Dynamic Live Betting Platform
Private bookies are always looking for ways to improve their overall hold percentage. This pertains to the amount of money paid out on winning bets verse the amout of money plus commission collected on losing bets. In a typical game, the bookie will try and balance out the money wagered on either side through periodic line movements. The goal is to come away with a hold percentage higher than five.
Live in-game betting should be viewed as supplemental betting action that can add profit right to the bottom line. This is fast-paced betting action that relies much more heavily on luck than any type of handicapping skill. The added thrill of live in-game betting tends to increase the overall handle a private bookie takes in. The combination of each of those factors can often times increase the overall hold percentage for the money wagered on a specific game.
Pay per head sites offering a dynamic live betting platform can also offer a wider array of live in-game betting options. This can include specific props as well as adjusted betting lines for spreads, totals and money line odds. The more options on the board, the more overall bets will be placed by any active customer base. These types of bets can be graded immediately and real-time analytics will be able to quickly calculate the running total on an account-by-account basis as well as for the betting action as a whole.
Tips for Promoting Live In-Game Betting
Offering a dynamic live betting platform is one way to set a bookie business apart from the competition. The ability to level the playing field against the big commercial online books is an important aspect of the business tools a pay per head service brings to the table. It is still up to the private bookmaker to market the various betting options offered to their entire sports betting customer base.
A good way to cover the bases for live betting are as follows:
- Communicate live in-game betting options on a regular basis
- Highlight a featured live betting “Game of the Week”
- Build promotions or special incentives around live betting
- Offer a wide variety of different sports with live in-game options