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When learning about becoming a bookie, you will be reading guides on basic questions like “how much money do I need to be a Bookie?”. You will learn about line management as well as player management. There, you will learn terms such as public betting. What exactly is public betting, and how is it relevant in your sportsbook operation?
If you take a closer look at the wagers in popular games in
your online bookie software, you will notice that in some games, one team will
get a lot more wagers than the other side. This could be due to a good value in
the odds, but most likely, its because it’s a popular team. This is what public
bets are. This is when a large number of bettors will place a wager on an
obvious outcome on a game, or on a hugely popular team.
Public Bets in Your Sportsbook
As a pay per head bookie, public bets tend to be risky. If
they win, you need to pay out all of the winnings, and there is not enough
money from losing wagers to cover, so you will use the money you get from your
vig, or money you store for situations like this. However, if they all lose,
then you get a good payday. But as a bookie, you will want to get a good
balance between these wagers.
What you will do then, is to adjust the lines to make it
more favorable to wager on the other team instead. This will encourage bettors
to place wagers on the underdog instead. This will somewhat balance the number
or amount of wagers placed in this particular line, thus reducing risk on your
end.
So when it comes to popular teams, popular games, and the
like, keep an eye out and make sure that you manage your sportsbook lines well.
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