As we told you in our previous article horse racing wagering is one of the most lucrative businesses for you, the bookie, and that’s why you must try to get as many clients as possible willing to bet on horse racing.
Of course, once you get them you must know how to offer them a nice player package that encourages them to bet on any horse they want and doesn’t limit the race options.
In the previous article we also showed you the old (wrong) way to do it, and now we’ll go into the new and proper model to offer horse racing wagering to your clients.
The New Way
So how do you keep your horse racing clients happy?
Instead of imposing maximum payouts per wager based on the track activity, give them full track odds but put a cap on how much they can win per race. The key being here to limit the payout per race and not per wager because then, even if they have three plays on one race, their earnings will never be more than the payout that you previously approved.
Let’s say you allow a maximum payout of $5,000 per race. If someone bets a trifecta to win a maximum of $3,000 in a race and you give them full track odds, they know they will win those three thousand dollars if they chose correctly.
But even if they later decide to add other plays in the race to find other ways of coming on top, it doesn’t matter what they bet since they will never be able to win more than those $5000 because that was the race cap you approved.
This kind of payout model is a win-win situation for both bookie and agent. First, bookies still limit the damage they take when someone wins big and second, they maximize their wagering activity as the player will no longer be limited to choosing only the favorites. This is good because longshot horses are most likely to lose and the ones that will help you earn a bigger hold percentage.
As for the clients, they will be happy because now if they choose a longshot they will get the maximum payout if it doesn’t exceed the approved cap.
Remember that even though a lot of races are available on TV, a lot of bettors go to the track to play horses mainly because they get paid full track odds on any wager they place.
Offering full track odds will help maximize your wagering activity because these people may prefer to stay home and invite their friends to see and bet on other sporting events while they bet the horses through you.
On top of that, through word of mouth these bettors will tell their friends about it and help you grow your business as they recommend more people to bet with you.
