While it might be hard to believe that another sports betting year is just about in the books, the end of December actually marks the start of the process to develop a brand new sales and marketing plan that is designed to grow and expand your current private bookie business into the New Year.
Before you get too far ahead of yourself in the planning process, it is extremely important that you set aside the time to take a very close and in-depth look at the past 12 months in search of the clues that can point you in the right direction for the coming year. Invariably, any business owner in any industry needs to take a step back to examine the proper business analytics that can pinpoint exactly what is working and what is not. Successfully running and managing your own independent sportsbook requires the same detailed level of analysis when it comes to making the proper adjustments to past business practices.
Obtaining the necessary analytics to conduct this comprehensive year-end analysis is where your current Pay Per Head online bookie software service can really earn those weekly price per head fees you have been paying all year long for your active sports betting customers. Through back-end access to their online bookie software package, you should be able to obtain any number of highly detailed business reports that can drill down deep into your company’s performance over the past 12 months in any number of important categories.
While every private bookie’s first and most important business priority is making money on the sports bets you book, do you have an exact figure for your actual hold percentage over varied increments of time? It is one thing to make money over the course of a busy week of football betting with a nice, healthy hold percentage above that five percent threshold and it is a completely different thing to earn a healthy hold percentage over the course of an entire sports betting calendar year.
How well do you think you know your entire sports betting customer base on an account by account basis? Do you know which bettors you are making money on as opposed to the sharper bettors that have been a drain on your overall bottom line over the course of an entire year? One of the best things about running your own private bookie business is the ability to pick and choose your sports betting cliental. Holding onto a customer because they provide action on a regular basis might not outweigh the fact that they are getting rich at your expense.
Do you know which sports bring in the most profitable return to your bottom line? Football is probably your biggest sport when it comes to the action you take in, but is it your best source of profitable income. Maybe you need to adjust your offerings or fine-tune your line movements to enhance the profitability of a particular sport or sport’s league.
Maybe you are missing the boat by not offering a racebook for horse betting or an online casino when it comes to creating additional streams of revenue that can smooth over some of the inherent lulls in the sports betting calendar.
Knowledge is power when it actually comes to successfully running and managing your own sportsbook. Gaining a strong handle on what is working and what might be holding you back given your current state of affairs is the first step towards coming up with next year’s plan to keep things moving in the right direction. A quality price per head shop should be thought of a true business partner that can provide everything you need to meet and hopefully exceed all of goals you have set for your bookie business.