When running an independent sportsbook, you need to consider the benefits of a bookie layoff account. Also, you need to know the best way to use the account for your bottom line.
If you don’t know what a layoff account is, don’t worry. We will explain to you what it is about and why bookies should have one. If you are starting a sportsbook, you should have a game plan first.
The first thing you need to research what type of players you are going to attract. That way, you can find the best ways to minimize risks and maximize profits. One of the best ways to prevent potential money lost is with a bookie layoff account.
When you learn how to be a bookie, you should know the essential sports betting terms. One of them is laying off. It means placing a wager to lay off some of the action to another bookie to cover losses. Thus, it is a type of hedging.
According to a pay per head bookie, they use a layoff account to reduce exposure from the big-ticket game. Also, they use it to balance a sportsbook.
For instance, the Lakers and Heat are going to play in the NBA Finals again. Thus, there’s a lot of hype building towards Game 1 of the series. However, most action is on the Lakers. If the game’s result favors the Lakers, then the sportsbook would lose a lot of money on the game.
That’s where the layoff account comes into play. You can protect yourself from losing money by making a mirror wager on the Lakers using your layoff account. Based on bookie pay per head services sources, you can use the winnings from the layoff account to pay off your players.