Do you think you’re going to run a bookie using paper and a pen like the old days? Those days are long gone and now you need to make sure you utilize technology to run a successful bookie.
Betting Software
There are two ways to get the technology you need. You can outsource development work and have a custom built software suite built for you or you can choose to join a pay-per-head (PPH) shop.
I want to tell you right now, your best bet is to join a PPH service. Developing betting software would cost thousands of dollars and would still be missing features that PPH shops provide.
When you join a PPH service, you’ll receive access to the betting software, betting lines and reports that will give you an idea of where you stand financially at that moment of time.
The first tool you’ll need is the betting software. Until you have a website where your clients will be able to open an account and wager, you won’t even be in business.
One more benefit of joining a PPH provider is that the software they have developed over the years are more featureful.
For example, you can provide your players with the ability to bet on sports, on horses and on casino games. Developing a sportsbook, racebook and casino would cost too much.
Betting Reports
You can improve your online sportsbook performance by utilizing reports. PPH shops will offer you the ability to generate reports with dozens of filters. However, you can also utilize tools, including Excel, to build your own customized reports with the information you deem most important.
Here are some of the reasons you should generate betting reports regularly:
- Player Management Reports: You need to know how your players are doing. You can find out how a player has done daily, weekly, monthly, yearly or all-time. You’ll also be able to make adjustments to player accounts using the player management reports.
- Wagers Reports: Want to know every bet made in your sportsbook last week? That’s possible using the wagers reports. You can also use wagers reports to check on open bets as well as any exposure your agents have, so you know where you stand on an event.
- Financial Reports: The financial reports are needed when it’s time to settle weekly/monthly with your players. You can find out how much they owe or how much they won. You can also view any free plays or bonuses that you’ve issued to players.
You need to continually utilize the best tools to ensure you’re sportsbook is running smoothly. Once your bookie business begins to grow, you can start looking at building customized tools that’ll help growing and operating your business. Technology is more important than ever.
Players expect to be able to use the latest technology as well. They’ll expect to be able to wager on mobile devices and they’ll expect to have a wide range of betting options. If you want to improve the performance of your sportsbook, make sure you utilize the tools available to you.
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