How To Have A Balanced Book
If you are already running a bookie service, you definitely want to run your business smoothly. The very first step is to use a Pay Per Head software and take the advantage of their tools and knowledge. It would be nice to always have a balanced book and simply collect the juice with no risk; however, it is not possible to achieve the perfect result you desire all the time in the reality. Following are the actions that you should proceed to have a balanced book as you could.
Create a personal account
You need to have a personal account to be able to make bets yourself. This is a critical action if you want to balance the bets you receive. To be more specific, if you have total $20,000 bets taken in on New England Patriots but only $5,000 on Los Angeles Raiders, you need to place certain amount of the bets on the opposing team (underdog) in order to mitigate the one-sided risk.
Lay off action
It’s necessary to use the option to lay off action sometimes to maintain the balance of bets. However, we won’t recommend you to over-use it because the chances to break even or lose a little bit of money is pretty high. Therefore, even you can try to balance your players’ bets, you have lower opportunity to win big.
Use wager alert
A good Pay Per Head company like PricePerHead.com provides the complete software solution for all their bookies agents. One of those useful features that you definitely will need is the wager alert which you can set on your account. Such alert feature allows you to set up with either phone number or email for you to receive the notification while certain amount of wagers exceeds the set amount or even rom some specific players.
You should also create a good habit to study the detailed reports provided by your Pay Per Head software. It’s important to know how much action you have on each game event and then use that information to forecast and determine what to do next.