How many players do I need?
Building your clientele will be the key for your success. Not all players should be part of your package, but it’s always key to have enough. When you have a big package, it’s easier to manage and calculate your revenue and possible exposure on certain games. With the agent site that we offer you, you can keep track of the betting trends and analytics behind every player.
Depending if you want to setup your package for post-up or credit, treating your customers right is the name of the game. It’s definitely better to have them post-up, while you build a relationship with the customers. Money up front is the key of the game. Once that you have built a relationship, credit lines can be established. There has to be a recognition that you cannot give a customer too much of a credit line so they can bury himself or destroy you.
Most agents give out a credit line with a max wager proportional to what they can bet. For example, if you give a customer a 1000 credit line, the max wager should be 10% of that amount which will be 100 dollars. The reason behind this is to avoid him losing more than he can afford. The more wagers he needs to place, the more juice he is going to lay.
Paying on time should be another aspect of the equation. It’s better to have customers that only play what they lose so the balance can reset. If the closing of the week happens on Sunday, give time to the player so they can square up, some agents have Tuesdays as the paying date. If they lose a big chunk, take something first and try to work a payment plan.
Most players have the habit to bet for entertainment. Others feel the urge and can become an issue. Try to take that into consideration. The relationship has to work both ways.
To start, try to spread the word and build from the ground up. A good number will be to have 10 customers. Referral free plays can be given to maintain the clientele’s expectation to have an earn when they recommend somebody.
If the weekly volume is around 20.000 dollars, in a good sportsbook with solid lines you can hold over 5% of that risk amount. This will generate a profit of approximately 1000 dollars.
Of course, if you have more customers there’s a discount on the cost when you get to 30 active players and on.
People seem to have forgotten the importance of the line of credit. It is probably the most crucial part of your business but somehow it has lost its meaning. The line of credit is an agreement between the agent and each of his clients. You can learn more on lesson two of our second course which is dedicated to limits.