The Blunders of 2017 That Had Some Online Bookies Close-Shop
Hopefully, most online bookie agents had a great 2017. Like every year, some didn’t do enough to keep their businesses open.
2017 Biggest Online Bookie Blunders
See below for the top 2017 blunders that most likely cost some agents to lose their dream businesses.
Not setting max betting limits on all futures
The New England Patriots were favorites to win Super Bowl LI. Over halfway through, when Atlanta built a 28 to 9 lead at the end of the third quarter, it sure appeared as if the Patriots were done for.
But, Tom Brady rallied New England to an improbable 34 to 28 overtime victory.
Those agents that hadn’t set max betting limits on the Patriots before the season started, or even before the Super Bowl started, or even during the Super Bowl, had to pay out a pretty penny when New England won and covered the spread.
Pay per head agents should always set max betting limits on all players, casual, or pro.
Always.
Not setting racebook total payout limits
Always Dreaming won the 2017 Kentucky Derby as the $4.70 to 1 favorite. At those odds, Always Dreaming paid $11.40 back for every $2 invested to win.
On a $200 bet, the payout on Always Dreaming to win was $1,140. Agents must set max payout limits on all players for every race. There were some horseplayers that dumped on Always Dreaming to win the Kentucky Derby.
Dumping on favorites happen every day. It’s rare that a favorite goes off less than 3/5. A $1,000 payout on a 3/5 horse pays back $1,600.
Forgetting to utilize the schedule limit override tool
Setting schedule limit overrides is often a much better idea than immediately running to the layoff account. An override allows agents to encourage wagering on other teams, or even other sports.
Those agents that didn’t set schedule limit overrides on many sports events in 2017 might have had to go to their layoff accounts.
The layoff account should be a last resort option unless money on one side of the spread to another is frightening.
Also, online bookie agents should always handicap games before jumping to the layoff account.
Most per head agents can’t afford to allow profit to slide off their tables.
Forgetting to create settle alerts
The reason to create settle alerts isn’t to get paid. The reason to crate settle alerts is to ensure that active player remain active.
It can’t be stressed enough that when an agent allows a player to get too deep into debt with that agent, the agent must cut off the player from being active in the sportsbook.
This can be disaster for per head agents.
Why? A per head agent’s business is all about cash flow. Online bookie agents must create pre-settles via their settle alert tools to ensure payment before they must cut off active players.
By doing so, those pay per head agents ensure healthy cash flow.
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