When to Adjust the Odds?
All bookies go through their ups and downs. This business can be volatile and you must be prepared to Adjust the Odds. Making the proper adjustments when necessary is not an easy thing to do. Possibly, you are a local bookie that’s looking to expand, to find an online presence that makes you stand out, but most of all, keep the clients you already have. In these times, bookies need all the help they can get.
Now is the time to jump on board with a top-notch pay per head and find out how they can help you grow your profits. What is it that you can do to boost profits and protect what you have? The PPH can help you with the little things, but the most important things as well. Such as knowing when it’s time to adjust the odds.
Are You an Experienced Oddsmaker? Adjust the Odds Carefully
- “Odds” are you are probably not. Most bookies know about lines; they know how lines work; how lines move; and why they move. However, when it comes to being able to adjust the odds off of the initial offering can be the tricky part. You should have some experience under your belt if you plan to set the daily lines and odds for your online sportsbook.
- A common argument goes like this: “I will follow the ‘big boys’ of the online industry or the ‘superbooks’ of Las Vegas”. Ok, this is certainly one way that you can go with lines and odds and it’s the easy way.
- Setting lines and odds is a daily task that you must-do if you want to appear professional. “Local bookie’s” often “wing it”. When a client calls in and asks about a game or event, the bookie tells him what the line will be. This is ok on some level and especially for friends, however, if you want to be taken seriously, then you must present yourself as if you have a solid idea as to what you are doing.
- Don’t follow the crowd, ever. Stay away from this trap. As mentioned, it’s the easy thing to do but don’t give into this. Her is why… The big online bookmakers and Las Vegas are looking to earn as many paying clients as possible and they are willing to soften lines to get that business. Think of this as Walmart. Walmart may sell bleach for .99 a gallon when they paid $1.39 for it. Guess what? The bleach brought you in the door and when you leave, you will likely have a cart full of groceries. Walmart is willing to lose on some products to win your loyalty. Walmart can afford this practice, you can’t.
- Find a payperhead that will build your online sportsbook for you. Find one that will offer you a package deal with a Las Vegas-style casino and a world-class racebook that features more than 70-tracks. Most of all – you need a pay per head because they set the lines and odds for you. They are experts and most of their line movers have worked in Las Vegas or with well-known, offshore bookies.
- Setting daily lines and odds is a task that you want no part of. You are busy enough without having to deal with this hassle. On top of it all, you want the edge over your players. You are in this business to protect your assets and everything is about the bottom line. Don’t sell yourself short. There are many sharp players and in today’s world of the “information super-highway”, anybody can find out anything about any sporting event, and player, or any venue. You need all of the help you can get to combat the available information.
Top PayPerHeads can Help Bookies Adjust the Odds
Call the best payperhead providers industry-wide listed at Techtimes or Scores & Stats and ask them to help you. They will build your sportsbook, racebook, and casino, and best of all, they do this for no additional charge. All you are obligated to pay is the price per head fee, per week. Which is usually around $7-$10. The best PPH providers are offering a free trial and you pay nothing to start. You will be up and operating within a day or so and your players will be integrated for free.