Why You Should Read Reports
This should not be usually a part of bookie tutorial pages, since this concept is pretty basic for anyone who has a business. But sometimes, rookie bookies tend to just look at the surface and see a profit and just do nothing instead of bothering to read reports. Most of what you see when you learn how to be a bookie talks about using a pay per head service to run your sportsbook.
Being a PPH bookie allows you the opportunity to save on time by having the software work for you. They will post odds, wagering options, monitor wagers, and generate reports for you to use. These reports are crucial for the following reasons.
First off, your reports will tell you if your sportsbook is winning or losing money. If you don’t balance your books well, your profit and vig will be eaten by the payouts you have to give your winning players. So pay attention, and see if you need to adjust your lines to make sure you win at every sporting event you offer.
Second, you should track your players. Remember that you are paying the pph provider per head, per week. Are your players giving you enough money to cover the fees? Because if you pay, say, $7 per head per week, and he only gives you around $5 a week, then you are losing money on the player. This means you should either adjust the limits, get him to bet more, or not take wagers from him.
Third, you may encounter sharps. These are players who hone in on weak odds and take advantage of it to win a lot of money. If you see one in your players, try to minimize the limits so you don’t lose too much, if you think you can hedge on his bets to balance the books.