One of the most important aspects about sportsbook management that you will address when you learn how to be a bookie is line management. This means you need to be able to manage the line movement of your sportsbook’s odds to ensure maximum earning potential. This is important because you are not just looking at your profits, but also looking to minimize the risk of giving payouts that exceed the bets you get.
As a bookie, you want to balance each side of a wager. For instance, you have a moneyline bet on whether the LA Lakers will beat the Golden State Warriors. If the wagers betting that the Lakers will win amounts to around $2000, but the wagers betting on the Warriors to win is at $500, then you have two scenarios. To make it simple, we are not including the vig in computing for the amounts, since we just want to look at the logic behind line movement.
Why Line Movement is Important
If the Warriors win, then the payouts will be focused on paying out those who placed wagers that total $500, plus their profit from the wager. This is good, because the losing bets are at $2000, and this more than covers all of the payouts. You will even get to keep extra aside from the vig too.
But, if the Lakers win, then you need to pay out the $2000, plus their profit from their bets. To do this, you have the vig you collect, plus the $500 in losing bets from the Warriors. Will that total be enough to pay out the winnings? No. So, you will need to pay out of pocket and lose money on this bet.
So, when you see that there are more bets on the Lakers than the Warriors, then you move the odds to make it more favorable for the players to place bets on the Warriors- so you can get a balance, like $1000 on one side, and $1000 on the other. You will never get an exact amount on this, but the goal is to get close as you can.
When Do You Move Lines in Your Sportsbook?
Given the need to balance your books, when do you actually move the lines? These are the main factors that will affect line movement.
Balancing the Bets. As mentioned earlier, you need to manage your bets and try to get as even a balance as you can. This helps minimize risk.- Player News and Injuries. The absence of a single player can affect the outcome of a game, and therefore, the odds as well. The line will shift when this happens, so keep an eye out. When you use the best pay per head sportsbook, the lines will automatically shift, so you just need to keep track of the activity from your players.
- Team News and Updates. Similar to player injuries, a change in strategy can also affect a team’s standings and performance. For instance, if the coaching staff is replaced, then the team’s strategy and direction will change, prompting a shift in lines as well.
- The Weather and Other Factors. In outdoor sports, the weather can affect the performance of players. Wind speed and direction, humidity and temperature are all important, especially in sports like baseball.
If you want to make sure that you offer the best sports betting odds, and the best tools to manage your sportsbook easily, these sportsbook pay per head reviews is a good resource to have. These reviews will help you find a good provider for bookie software based on the features you want and the budget you have.
Try the Best Bookie Software for Free at Price Per Player Here!
You must be logged in to post a comment.