At one point or another, all bookies will come face to face with their worst nightmare, a winning player that they just can’t seem to beat. When this does occur, how and when a bookie reacts can sometimes make the difference between a winning or losing season. While these sharp bettors are certainly happy with the outcome and are likely to keep on engaging in sports betting as long as you let them, this can quickly cut into your overall profits!
When bookies come across these sharper sports bettors, their first question is usually, “How can I stop this player from winning?” In some cases, the answer isn’t to get that player to stop winning; it’s to get that player to stop betting with you! Yes, for some players, the only real answer is to send them packing and make them someone else’s problem. This is where good sportsbook software & a solid risk management program are worth their weight in gold. Quickly being able to recognize the difference between a lucky player who is just on a hot streak vs. a sharp bettor who is continuously picking your pocket is invaluable.
For those bookies who decide the player isn’t sharp enough to delete, it’s still important to keep close tabs on that player. Know what the player is betting on and what his or her betting limit is. Reduce the limits on certain types of wagers, like quarters and props. Give parlay payouts a max payout that works for the player but that won’t pull you under if you take a lottery type hit.
Also, bookies need to know that their cost per head service takes their risk management role just as seriously as you do. You should have access to helpful tools like the Big Bet Alert, which notifies you when players place a bet above a certain amount that you determine, and the wager delay, which can put a hold on a player’s bet by refreshing the line first. Both of these tools and many others are offered through Host PPH. These, along with the company’s superior lines management division, can help you to seriously increase your hold percentage and to run your business much more effectively and successfully.
