There are a lot of resources that will help you learn how to be a bookie. A lot of these guides will touch up on player management. When it comes to managing your players, there are a few things that you need to do. First, you need to know your players well. You do not have to know your players personally. You could, however, use your bookie software to analyze their betting behavior and adapt accordingly. Our bookie guide to adjusting limits will help you with this.
This is where your lessons on becoming a bookie will be used. You need to know how and when to adjust your players’ limits. There are two types of limits, and we will talk about them both so you will know how to use them.
Also known as a credit line in the gambling industry, the credit limit is the price ceiling that you will set in terms of how much you are allowing your players to bet without having to pay you yet. Basically, you are giving them that much to bet on your sportsbook, which you will collect on at a later and pre-agreed on date. Since you are just starting out, you should be wary of giving out high credit lines to your players. There is a chance that players can run away from their wagers if they lose, so only risk what you are willing to lose.
If you read bookie pay per head reviews, you will see the next type of limit, which are betting limits. This is basically a set amount of the maximum amount that your players can place. Again, this will depend on how much risk you want to take on. You can impose an across-the-board limit to all players. Or, you can personalize the limits to accommodate high rollers or limit those who you think cannot handle betting high amounts. Both these limits are important in player management, so take the time to configure this when you start your sportsbook operation.