Online sports betting has grown immensely over the past ten years and its popularity has resulted in many bookies moving online. It is now possible to operate as a bookie online and to offer your customers a full online betting service. In order to be successful as an online bookmaker, there are a number of important aspects to take into account. Primarily, you need to offer a safe betting environment for your customers. In addition, you need to create a scenario where your safety and security is maintained and your risks will be minimized. Player accounts and credit lines are an important aspect of an online bookie service.
Setting up Player Accounts
Before you set up player accounts you will need to be aware of the kind of action that the player will have so that their account can be set up to reflect this. You will need to create weekly limits and game limits that suit your customer and your business plan. For example, a $100 player does not need to have a 50 cents limit with a maximum bet of five cents. This player could have a $1,000 weekly limit with a maximum bet of $200. In another example, if a player takes home $500 a week, you could feel comfortable giving him a $1,000 credit line.
Extending Credit Limits
Player’s credit limits can be extended at any time, but it is important to start with a credit limit that is suitable for the player and that you are comfortable with. It is important, as a successful bookie to always protect yourself and to also protect your customer from becoming over-extended. Do not offer a credit limit that is too high initially; rather offer a credit limit with the view that it can be extended in the future if required.
Using Bookie Software
Bookie software can be very useful in setting up your bookie business successfully. Services such as pay per head services offer features that allow you to qualify your customers and keep on top of their betting and account transactions. You will have access to multiple reports that you can customize to suit your needs and that will provide you with vital information to help you run your business. You will be able to view the betting history of your players, access a cash flow report with information on each customer and adjust player credit limits.
Be Financially Savvy
It is important to be financially savvy if you are to be a successful online bookie. You need to access reports that give you information on your players in regard to how much they bet and their transaction histories. This will give you a clearer idea of how much they take home each week and how much they can lose. This information is vital when you work out what their credit line should be. Make sure to protect yourself and your business, at the same time as protecting your customers when you work out credit lines.
247pph offers the best price for a pay per head – PPh service. For years we have has helped bookmakers from around the world, make more money.
Register or Call today, at 888-274-7630, we will help you to set up your account.