By Dave Schwab
Bottom-line profits are what every private bookie strives for when it comes to running and managing your own independent sportsbook, but weekly cash flow is the life blood of any small business. You need cash to pay your bills and if you are a bookmaking agent with a steady sports betting customer base, you also need a steady flow of cash to pay off any winning bets.
One of the best business tools for any private bookie is a settle alert report that lets you know in advance how much money you have taken in and how much money you have to pay put. Most of the top Pay Per Head online bookie software providers offer a settle alert report as one of the many sportsbook management solutions that are all designed to help you run and manage your own sportsbook. The starting point for any settle alert report is the settle limit that you set for each and every one of your sports betting customers. If that amount happens to be $1000, then a settle alert report will automatically let you know when you have to either make a payment or collect a debt before that settle limit is actually reached.
Through your Pay Per Head software package, you will have the ability to set a pre-settle amount that triggers the settle alert report. For example, if the settle limit is set at $1000, you can elect to set a pre-settle amount of $800. This in turn, will notify you when any of your customers are either owed $800 or they owe you the same amount. This is a very easy and efficient way to always stay way out in front of things to minimize any surprises down the road. This is also an excellent way to control cash flow by always knowing exactly where you stand with every player you take action from.
The settle alert report is just one of the many ways that a quality PPH service continually earns the low, weekly price per head fee they charge for your active betting customers. It all starts with the ability to set up individual account profiles on a player by player basis. This is where you can put your betting and credit limits in place. It is this type of up front organization that will put the proper business processes in motion to drive your bottom line while also maintaining a steady and consistent flow of cash in and out of your bookie business.
Settle alert reports are also a great way to trigger any potential issues before they explode into a full fledge problem. Things move quickly in the Internet sports betting industry, especially when a new season of football gets underway. Working together with your Pay Per Head provider, you can put the proper stopgaps and betting alerts in place to avoid any serious negative exposure that can have a major impact on both profits and cash flow.
Taking a completely automated approach to running your own private sports bookmaking business is the best way to lay the groundwork for generating year-round income on a long-term basis. The majority of the top Pay Per Head sites were started by sports betting professionals that know exactly what it takes to be successful as a private bookie. The business analytics that have been built into the online bookie software handling the day-to-day administrative end of things have all been designed to help you grow and expand your business while also building the bottom line of your entire operation.