The Most Common Bookie Mistakes to Avoid
Here at the Price Per Player Blog, we see a wide variety of bookies. We see experienced bookies who are after better bookie software quality. There are a lot of relatively new bookies who are gradually expanding their operations. Of course, we also see a lot of bookies who are new to the industry. This is why we have a blog that is dedicated to help all of our clients learn how to become successful in becoming a bookmaker. However, there are times that when you are too focused on your operation, that you tend to forget about certain aspects of running a sportsbook, which can be risky for your business. Here, we’ll show you the most common bookie mistakes, and how you can avoid them.
Common Bookie Mistakes
The first mistake an online bookie makes, is by offering sub-quality services. Even if you are new to the business, you can easily find really good companies in the whole gambling software industry. Its best to start with the best possible software. This allows you to offer a wider range of services to your players. In addition, by getting a good service provider, you are also giving your sportsbook a professional look and feel- which will be a big factor in attracting customers.
The next mistake bookies tend to make is to be complacent. Once you have a routine established, and you have a regular set of players betting in your sportsbook, you tend to relax and sustain the action. Just like any business, your goal is to achieve a certain amount of growth each year. Failing to attract new customers, or certain target markets, will be your loss, and another bookie’s gain. And volume will not be an issue for you, since your bookie software will be the one handling and tracking your sportsbook activity. Basically, you will be expanding your sportsbook without having to spend too much time and money to achieve this.
The Biggest Bookie Mistake
One of the biggest, and possibly most costly mistake a bookie can make is to not offer quality lines to their players. Or, even worse, not updating their lines. Sharps are known to look for sportsbooks that are slow to update their odds and take advantage of this. Sharp bettors can win big this way. And when they do, it’s the bookie who loses. Again, if you have good bookie software, you can get this done easily. You’ll need to tweak your lines a bit to balance your book every once in a while. But its pretty easy to manage.
This is especially true for the biggest events in sports. If, for instance, the FIFA World Cup will be held soon, then you should be spending time promoting this to your players. If the NBA playoffs are coming up, then you should be putting those odds up front and center for your players to see. Feature a variety of sports events to engaging your players into betting with more variety. In short, make your good lines even better by promoting various events in your sportsbook.