One important how to be a bookie tutorial is knowing the importance of juice in the business. The juice is a sports betting term for the money a sportsbook gets for taking a bet. Often, bookies take a ten percent cut for every bet. However, a sportsbook can adjust the juice from one sport to another. For instance, online bookies use 20 percent juice for baseball games.
As a bookie, you can only collect the juice on a losing bet. You can’t collect juice on winning bets. For instance, John bets $100 on the Raptors. If they lose, John needs to pay $110 to the bookie because of the 10 percent juice.
One of the best things about running your own sportsbook is that you can move your lines, set betting and credit limits, and change the offerings on the board. As the bookie, you have the ability to adjust the juice when needed.
Adjust the Juice
When you be a bookie agent with a pay per head provider, you can adjust the juice you can charge for any type of betting action in your site. The standard juice for totals and sides is 10 percent. However, there are times when it will be beneficial for you to modify the number depending on the action coming in for the sporting event.
For instance, you might want to adjust the juice if you want to hold the spread on a match while trying to move money from one side to another. Lowering the juice on one side can help move the betting line.
You can use the bookie pay per head software to adjust the juice. You can also use it as a marketing tool. For instance, reducing the juice for a specific event can help attract more betting actions. Reducing your commission is also an incentive for loyal players. The additional action you get will help make up the costs of lowering the juice on a line.