One of the most important Key Performance Indicators (KPI’s) for any business is their per customer profit, and this applies to all online bookies. Understanding your customer base is of the utmost importance and the first building block for a successful bookmaking business.
More Options Equals More Money
There are several ways a top of the line pay per head sportsbook provider like AcePerHead.com can assist you in increasing your per player revenue. Before we get into those details let’s discuss some basics.
How Does Per Player Revenue Impact your Business?
Knowing how much revenue each of your players represents, helps you make business decisions that are focused on maximizing profit from each of your players.
Your ideal player is one that wagers more frequently, volume is the name of the game in this industry. Clearly, understanding what attracts your client base is extremely important, but so is shifting customers to wager on betting markets that offer higher profits for you.
The formula for calculating per player revenue is very simple:
Annual or Season Profits divided by the number of players you had during that period.
For example, your profits for the past NFL season were $100,000 and you had 75 players in your package, this means on average each player provided $1,333 in profits to your business.
Once you have this number you can dive into the specifics like did most of your profits come from full game odds, half or quarter lines, props, or live betting odds. You can also look at which teams generated more interest, or how much profit did you get from parlays, etc.
All this information serves in providing a detailed picture of which direction you should be moving your business. It also helps in discerning which players are worth keeping and which ones are hurting your business, this is not saying you cannot profit from winning players, you just need to identify them and build a strategy to follow and profit from them.
How does AcePerHead.com Help You Increase Your Per Player Revenue?
As the top pay per head sportsbook provider, Ace Per Head has created a suite of services and tools to help you grow your business and maximize your profits year after year.
Information is king in the business world, and the best way to get information is by having access to key reports that provide you with up to the minute information on your players activity and the overall performance of your business.
Aside from the standard reports offered by most pay per head services, Ace has created a few that they feel are helpful for a vast majority of bookies. However, they are aware that each business is different and therefore some agents may require reports that are specific to their business model, in order to accommodate these clients, they have a full-time staff of programmers and developers that can create custom reports for agents, all they need is a detailed explanation of the information that needs to appear in the report.
More Betting Markets
As mentioned before, the ideal player for agents is the one who wagers frequently, one strategy to increase the number of wagers you receive per player is to offer more betting options, and this is done by posting competitive odds on a wider range of betting markets.
Limiting your offer to the traditional sports will hinder your business growth and will cut into your profits quicker than you realize. These days we are bombarded by sports information from around the globe, some sports like soccer are becoming more popular among Americans, other sports like Tennis, Golf, and Formula 1 are steadily growing their fan base.
While there is no denying that Football is still by far the biggest money maker for bookies in the US, there is no reason to limit your market reach. And, there if the fact that even within the major sports there are plenty of options to expand your betting options.
Prop bets, alternative lines and live betting are excellent ways to increase the frequency with which a player places wagers. Live betting provides an added advantage, not only does it incentivize players to keep betting, it does so within a frame of urgency, this means your bettors will have less time to analyze the outcome and eventually this will be to your advantage.
Betting odds are everything in this industry, if you are unable to offer solid competitive lines for your players, they will sooner rather than later migrate to other bookies.
Ace Per Head, not only offers the sharpest lines in the business, they are the most flexible sportsbook provider, giving you unlimited betting odds and player profile options. This makes their service a comprehensive tool for you to grow your business to new heights.
Talent and Dedication
There is an underdeveloped and often ignored component of business success, and that is employees. Most business owners focus exclusively on Return on Investment (ROI) indicators, but, there is an equally important metric and that is Profit by Employee.
While the staff of www.AcePerHead.com are not your direct employees, their work does have a direct impact on your business. Ace Per Head’s employees are the real engines of wealth creation for all the bookies who have signed with them. By providing knowledge, building relationships, managing reputation and other intangibles, they are helping you create a stable and recognizable brand, aiding you in creating customer loyalty and ultimately increasing your per player profits.
Cutting Edge Technology
The single biggest cost for all online bookies is technology, from software providers, internet providers, telecommunications, data centers, and, competent IT engineers, technology is a double edge sword. On the one hand, you cannot compete if you do not have cutting-edge technology to rival your competitors, and on the other, acquiring such technology can put you in a dire financial situation.
Luckily, AcePerHead.com has built itself on the principle that they are a technology company, and thus have invested heavily in this area, surpassing every competitor in the pay per head industry. Choosing to work with them gives you access to some of the most advanced networks in the gambling business, for a fraction of the cost. This allows you to not only compete in this cut-throat environment, but it provides your players with a pleasant online experience that will have them return time and again.