What’s the goal for a bookie? The answer is to make as much profit as possible.
In order to make money, bookies need to increase their hold percentage. A bookie’s overall hold percentage is the amount a bookie makes on their overall betting volume.
The minimum a bookie’s hold percentage should be is 5%, but aiming for 10% should be the goal.
There are a number of ways to increase your hold percentage. One of those ways is to focus on which products yield the highest profits and that’s what we’re going to look at in this guide.
Most Profitable Products a Bookie Needs to Offer
Having guys betting on straight bets at -110/-110 odds is great, you’re going to make money, but there are more profitable products that sportsbook platforms offer their clients.
Here are some of the products we recommend promoting to increase your profits:
Live Betting (In-Play): Live betting isn’t just popular with sports bettors, but bookies end up making more money because the standard odds on live bets are -120/-120.
With the increased commission, bettors are going to win less on average. Your hold percentage will go up and you’ll end up making more money by increasing your live sports betting turnover.
Props Betting: Game props, team props and player props are all extremely popular. There has been an increase in the number of sports fans betting on props.
Prop bets also have higher commissions than straight bets. This means your edge is higher with these types of bets and on average your hold percentage will be higher most weeks.
Make sure your players know that you have prop bets available. Even offer a promotion to help drum up action. You can offer a free bet to players that place a player/team prop bet.
Futures Betting: The overround on futures betting markets is huge. Bookies make a killing on these markets and in many cases won’t even have to payout a winner.
Another benefit of increasing your futures betting turnover is that the money is tied up for months.
Not only does it help you increase your bankroll, but you can lock in profits all season. For example, in the NFL, once a team is eliminated from making the playoffs, their futures bets are graded a loss.
You’re going to make more money by promoting your alternative markets like live betting, props and futures. The commissions (vig) are higher and you’ll make more money long-term.
Some months are going to be slower than others when you’re working as a bookie.
You need to take advantage as much as you can when you have active players betting. Try to push some of your player’s action into markets where you can make higher profits.
Make sure you’re using your bookie reports to analyze your action. What are your players betting on? Where can you be making more money? This is a business, make sure you treat it like one.
If your sportsbook platform doesn’t offer these features, switch to the best PPH today.