As a bookie, you’re going to run into some smart bettors.
Smart bettors are also known as “sharps”, which is a term you may have come across already in your studies. Sharps or steam bettors can be a problem to your business if you aren’t careful.
Sharps are a problem because they’re long-term consistent winners.
If you’re not smart about managing growth as a bookie, you’re going to run into problems.
How to Identify Smart Bettors (Sharps)
Here are some tips to help you identify sharp bettors.
You’ll be able to use the reports provided by your pay per head (PPH) to help identify sharps.
● Beating the Closing Line: Look at the betting history for a player and if they’re beating the closing line, they’re a sharp bettor. A player may beat the closing line sometimes, but if the player is getting a better price than the closing line on every bet, that’s a problem.
● Crushing a Certain Sport/Market: If you look at a player’s history and they’re consistently winning on a specific sport or bet type and not betting on anything else, that’s a problem. Casual players will almost always wager on different sports and bet types for action.
What to Do When a Sharp Is Beating You
Part of managing your growth as a bookie is to know when to cut a player loose.
Sharp players are going to beat you long-term and you’re not going to make money off of them, so the sooner you can identify a sharp bettor, the better off your business will be.
Smart bettors get restricted or banned from sportsbooks all of the time. They’re going to know why you’re restricting them. It’s a business decision, but one you have to be willing to make.
Now, even casual bettors will go on winning streaks. They may even win for multiple weeks in a row, so don’t pull the trigger too early and ban them. The main thing you should be analyzing in your PPH reports is whether or not a player is constantly beating the closing line when they bet.
Managing Growth as a Bookie
It’s easy to want to keep big bettors on your betting sheet, but you have to be smart.
In order to manage your growth as a bookie, you need to do several things. First off, you need to make sure you’re analyzing the reports and keeping an eye out for sharp players.
You also need to maintain strict betting limits and credit limits.Some players may want to have bigger limits, but that can lead to problems. Wait until you really trust a player before you start giving them too much credit. A smart bettor can crush your bankroll fast with big betting limits.
It’s better to take things slowly as a new bookie. There are sharp bettors out there and if they hear you’re taking action, they’re going to do everything they can to beat you.
Starting a bookie doesn’t guarantee you get rich. You need to be a smart bookie to beat smart bettors. We’re here to teach you and help you every step of the way.
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