How Online Bookies Can Increase Profits For The Belmont Stakes
The final jewel of the Triple Crown, the Belmont Stakes, takes place on June 9. Online bookies should have made profit off both the Kentucky Derby and the Preakness Stakes.
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It’s important that bookies protect that profit for the Belmont in order to increase profits. Here’s how they can do that.
Online bookies should put in place what’s suggested as soon as possible.
They don’t have to wait until Belmont Stakes Day on June 9.
1. Set per race winning limits
The first thing that pay per head agents must do is put a max on how much a single horseplayer can win on a single race.
The limit should be for the agent’s online racebook.
Many offshore racebooks set a win limit at around $5,000. If an offshore racebook sets a limit at $5,000 what should you, the bookie, set your limit at?
You can raise the limit for the Belmont Stakes. Make sure you set a specific limit for all races. Then, re-adjust the limit for the bigger races.
2. Set limits on how much a single horseplayer can wager
Setting max betting limits on prop wagers, like which team will win the Super Bowl, is a no brainer.
Setting max betting limits on individual races is also a no brainer. There are two ways to accomplish this.
First, per head agents can simply set a total amount wagered on each race. The total amount could be something like $500. It doesn’t matter if bettors wager $500 on a single win bet, or they spread around the $500.
The second way to do this is to set individual max betting limits for straight wagers and exotic wagers. For example, the most a horseplayer can bet to win is $200.
3. Take some races off the board
Reserve the right to take any race, even the Belmont Stakes, off the board. There’s no law that says you must allow all horseplayers to wager on all races.
Make no mistake, professional horseplayers are good at taking advantage of specific races. They don’t bet on every race. They wait until they see an advantage and then pounce.
Don’t let professional horseplayers take advantage of the fact that you run your own per head online racebook.
Do what we list above to save and increase profits for the Belmont Stakes. Plus, get ahead with up to 35% cash back when you sign up for PayPerHead’s Prime Package.
