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One of the first skills you will need in running a successful bookie business is the ability to manage betting lines.
Also known as odds, the lines change from the first time the numbers are posted, referred to as “opening lines”, to the closing of each wager.
The line movements can be dramatic. We witnessed this last week when it was revealed that Kawhi Leonard would sit out Game 5 of the Clippers NBA Playoff game versus the Utah Jazz due to injury. The shift was a full 4 points, and even more at some books. While LA went on to win that game outright, and eventually the series, Utah bookies in particular were left exposed unless they utilized a bookie software that manages betting lines.
Losing a player like Leonard and still having his team listed at +2 could cripple a bookmaker in other times. Real live oddsmakers working 24/7 must stay on top of breaking news at all times. They adjust the lines accordingly and will be displayed within the software for a bookie's players to bet the updated line, not the +2.
How much does it cost to maintain a bookmaking staff around the clock?
Try as little as $5 per week per active player.
And these aren't just any 'ol folks grabbed off the street to sit in front of a computer. Linesmakers and movers at PricePerPlayer.com will typically have several years experience in the field.
You as the bookmaker also have the ability to monitor and make the necessary adjustments. Say you're an LA area bookie and players are suddenly pounding the Clippers line at +7, you'll probably want to reduce the line further in an effort to get more action on the Jazz.
Again, your software will be displaying all of the action so you will not have problem logging in bets. You can easily see where you need to adjust, or just track all wagers.
- Ean Lamb, Gambling911.com
