People often say quality over quantity. While that may be true in many cases, let’s not forget that quantity is a quality of its own. For bookies, quantity over quality applies when it comes to their sports betting handle. This is because for them, the higher the sports betting handle volume the more money they make! Thus, this bookie tutorial will show you How to Increase Your Sportsbook Sports Betting Handle with various strategies.
Contrary to popular beliefs, bookies make money from volume and not from players losing their bet. This is because if they only made money from bettors losing, then it would be leaving their revenue up to chance. Needless to say, that would not be a very good business model. Instead, they rely in charging a commission or “Vig” to earn a revenue. Therefore, a higher betting volume the higher their sportsbook revenue will be.
What is a Sports Betting Handle?
So, what is a Sports Betting Handle and how does it determine the sportsbook revenue or hold? The definition of the sports betting handle is the amount of money that players wager over a period of time. Gambling operators and sports news outlets will often refer to the betting handle for a specific sports or time period.
What you have to keep in mind is that the sports betting handle is not the revenue nor is it the profit. To calculate the sportsbook revenue, you would multiply the sports betting handle by the hold percentage. Just keep in mind that this is the simple explanation as different sports markets have different commissions. Plus, you will eventually need to figure out whether the betting was even on each side or not.
For example, the sports betting handle in New Hampshire was $78.49 million and a 13.36% year-over-year decrease for them. However, the actual revenue made from sports betting in December of 2023 was $7.66 million. This means that there sports betting hold percentage was around 9.76%
Keep in mind that the sports betting handle is not the number of bettors, just the volume in bets made.
*As a sidenote, even though we say that quantity trumps quality in terms of sportsbook betting handle. It is important not to confuse it with the quality of your bettors. This is because quality players are necessary to have a high sports betting volume. Quality bettors will either bet more or make larger wagers or both.
Strategies to Increase Your Sportsbook Sports Betting Handle
Offer a Wide Variety of Betting markets – The more betting markets you offer the more betting options your players have. In turn, this will lead to more customers which means a higher sports betting handle volume. This also includes offering odds from more racebooks and even having eSports Betting options.
Advertise the Right Product for Your Market – If the majority of your bettors are from Texas, then make sure to promote teams in Texas. While this may seem simple, your customers are much more complex than that. Some may like to bet on parlays, while others may like to bet on football but not baseball. As a bookie, your job is to figure out what your players like and cater to them. Thus, having the right marketing technique for your sportsbook is the key to improving your betting volume.
Offer Live Betting – Live Betting or in-play betting action allows bettors to wager during a sporting event. Betting as the action unfolds is proven to increase the number of bets made by players.
Add a Casino to Your Sportsbook – A casino is a great way to keep your players betting by letting them play casino games during betting downtime.
Increase Your Betting Handle with a Pay Per Head Bookie
Now that you know the basic strategies to increase the volume of the betting handle, how do you implement them? Even though it will not solve all the strategies, using a Pay Per Head Bookie will increase your sports betting market.
In addition, it will also help bookies identify player preferences so you can create specific sportsbook promotions for them. Furthermore, a good Bookie PPH provider like PricePerPlayer.com also provides lie betting as part of their service. If that was not enough, part of our service includes an online casino, live casino, racebook and much more!
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