Managing Your Bookie Service to Avoid the Chase
One thing is for sure, using a pay per head bookie service makes managing your book a lot easier.
They place a few $50 bets on Saturday and they all go down. Now they are out $165 and Sunday rolls
around. They make two $100 bets and lose both of them. Now they are down $385 and it is 4:00pm. Two more
bets at $200 each and guess what, they take another O-fer and are now out $825! When the Sunday Night
game rolls around, they will probably step up their action to a nickel or dime bettor to try to get even
or make a profit. After all, they have to pick one right sooner or later, right?
This is how smalltime players get buried. On a normal weekend, they make $25 and $50 bets until that one
dreaded weekend where they cannot make a single pick right. They figure their luck will change sooner or
later so they keep pressing, or chasing, the action until they get even. This is not only a nightmare
for the players, but for the bookie as well. You must put controls in place to make sure this does not
happen when you are running a bookie service.
Every bookie has the ability to control the stake of the player. In addition, you are able to set limits
on how much a player can bet on any given game as well as the overall action. It is wise to set these
limits based on the player's original line of credit or opening deposit. These limits should be
discussed with the player prior to the opening of the account so they are not caught off guard. If they
wish to exceed these limits at any given time, they would have to message or call you before they are
able to place a wager.
Let's take a closer look at a player that has a $500 stake. More than likely, this is their nut for the
season. If they only have $500 to risk, will they ever have a need to bet more than $50 on any given
game? Probably not, unless they are in heat and need to make a big score to even up their figure. Find
out from the player before they ever place a bet what their average and big bet will be. At most, they
should be cleared for $100 max bet. With that small of a bankroll, they will not need anything more
unless they are a quick hit artist.
So what happens when the player is out $500 after the 1:00pm games on Sunday and they want to place more
action? This is again something that should be addressed and why we recommend getting an upfront stake
from the player. If they have a stake of $500, you could reasonably extend them a $200 courtesy line. On
Monday, they can settle their losses and have their full line back.
If they are on credit, it needs to be understood prior that if they hit their figure, they are locked
out until payment is made. If you see them in deep on Saturday, send them a message using the internal
messaging service on Saturday night before they ever make a wager on Sunday. This way, they can hit the
ATM and settle early or drop off cash if they need to open up some space for the late games on Sunday.
Setting limits is all about protecting your bookie pay per head service. You want to make money, but you never want
to see a player busted out to the point that they cannot pay and need to work out payments. When that
happens, you have a major headache on your hands and risk digging into your bankroll to pay out winnings
that should have been covered by player losses.