As a bookie, you have to be practical and strategic with your sportsbook operation. If you truly want to become an independent sportsbook operator, then you need to know how to analyze the numbers in your sportsbook. This will help you know how much you are actually earning, and what you need to do to improve your revenue. The best tool for this, are hold reports.
What exactly is a hold report, and why do you need to know it if you want to be a bookie agent? A Hold Report basically shows you the hold percentage of your sports betting operation. Simply put, your hold percentage is the bottom line of your book.
Your hold percentage will show you the overall win/loss total for all of your players given a specific period. Most sportsbooks look at their percentages on a weekly basis. But your online bookie software can display your hold percentage per game, per day, week, month, and year. Your hold percentage will tell you if your sportsbook is making money or not.
The goal is to have a percentage of 5% and higher. The most successful sportsbooks have 10%, and even more. While looking at your percentage per game, or per day, can give you an idea on your sportsbook activity, its generally better to look at it from a longer period, such as a week.
Basically, your hold percentage is the percent of money that you, as a bookie, get to keep after all wagers are settled. This is why its important for you to balance the sides of each wager. You want to get as close to an equal or proportionate number to minimize risk. Luckily for you, our software has a hold report tool. We also include additional tools, such as reports on player activity, betting habits, daily action, and more. This will help give you a better picture of how your sportsbook looks like.
The data that your sportsbook software will provide you can help you find out where you need to improve, and if players are posing enough risk that your hold percentage decreases. By maintaining a good average of hold percentage (5%), you know that your sportsbook operation is earning money.