Making the Most of Prop Bet Odds as a Private Bookie
By Dave Schwab
Running and managing your own sportsbook can be a very lucrative business given the overall growth of the Internet sports betting industry over the past several years, but you still need to take the proper steps to try and level the playing field against your biggest competition; all the offshore sportsbooks operating online.
The main reason why the demand for a private bookie service has grown right along with the tremendous growth of online sports betting is that today’s sophisticated sports bettor is looking for that added level of customer service and personal attention to detail that the big offshore books simply cannot provide. While you can build a solid sports betting customer base with that higher level of service, you also need a betting board that meets the needs of all of your active players.
One of the fastest growing segments of online sports betting is wagering on all the props that are released in conjunction with the actual action on the field, court or ice. The actual odds released can be in the form of game, team or individual player props and there is really no limit to the scope and range that this form of sports betting has taken on in recent years.
From a private bookie’s standpoint, props can be a highly profitable way of bringing in some additional action on a year-round basis. By spending some time growing and expanding your overall prop bet business, you will add a very valuable stream of revenue that can help to smooth out some of the rough spots that takes place when the sports betting calendar starts to slow down at certain times of the year.
A perfect example of this is when it comes to betting on MLB games. The new season of games draws some immediate interest and things pick up when the playoffs roll around, but given the simple fact that baseball is not as popular a betting sport as football and basketball, you have to give your betting cliental some additional betting opportunities to go along the daily schedule of games.
Working with the right sportsbook management software provider, you should have the opportunity to offer a full set of MLB props for every single MLB regular season game. It is not that hard to see the revenue potential given that there are 30 teams in the Majors playing an extended 162-game regular season schedule. It is still going to be up to you to properly market daily MLB props to your sports betting customer base, but even if you only pick up a small amount of additional action, it is going to quickly add up over the course of an entire season.
Sports leagues such as the NBA and NHL also offer daily betting opportunities for props and when the NFL is in season, there is no better way to add even more betting action for the games then posting a full set of betting props on your board in conjunction with each week’s schedule.
Making money on props is not just limited to offering betting odds for the games themselves. There are a number of general prop bet odds that are released throughout the year for just about anything that is going on in the world of sports. You can take action on where the top free agent NFL quarterback is going to be playing next season. Overall player performances over the course of any major sport’s regular season make up some of the top betting props on the board. You can bet on the NBA scoring title, the most goals scored in the NHL or home runs hit in the MLB season. Player props for the NFL are released well in advance of the start of a new season to add some betting excitement during the long offseason.