How to Make Profit with an Online Racebook
Most bookie pay per head software providers includes a racebook as one of their features. However, most operators ignore it because they prioritize sports betting. If you want to make a profit with an online racebook,
Promoting your racebook can turn it into a profitable aspect of your sports betting operation. Follow our tips to make more profits from your racebook.
Make Profit with an Online Racebook
Before you promote your racebook, you should first set it up for success. The good news is that you have full control of the online betting platform when you use the best sports betting software. It allows you to set betting limits to optimize your profits.
There are two ways you can limit wagers.
Set Max Per Race Wagering Limit – It determines the maximum amount of money a player can win on a single horse race. More prominent sportsbooks set the limit at $5,000. However, you might want to put it at $1,000 to maintain a healthy cash flow.
Set Total Race Betting Limit – It is vital for the bookie business to specify the total race betting limits. If the limit is $5,000, then the software will automatically take the race off the betting board.
Teach Players about Betting on Horse Races
Some players don’t on horse races online because they don’t know how to do it. You can encourage your players to wager on races through your sportsbook through the following steps.
The first one is to tell them that betting on horse races is like parlay bets. The odds on a two-team parlay is 2 to 1. Also, the odds on the favorite is 2 to 1 or higher.
Another thing you can do to attract players to wager on horse races is to tell them that a small amount can win a lot of money. For instance, a $2 bet for an exacta pays $30. A $10 exacta will pay out $150.
To find the right pay per head solution for your online gambling site, be sure to read pay per head reviews.