by Bryan B.S.
02 Mar 18
If you are a partner with a reputable pay per head provider, then you probably have access to horseracing betting options or also known as a racebook, but did you know how to use and how to generate profits from this?
The common answer is NO, because horseracing it is a sport, that many people are not familiar with, maybe because it was known as the sports of kings, this caused that not much attention is paid to it. However, the truth is horseracing can generate income at the same levels that big events like Super Bowl; the key is know how to promote the racebook in your betting site, for that reason here are some recommendations:
Keep the Racebook Open
The most common mistake bookies make is to open the racebook only when there is big events like the Kentucky Derby. Nevertheless, if you really want to make a good profit with the racebook, you should keep the option open to all the players all the time. There is a ton of races before and after the big Derbies, and from those events is where the good money comes from because some players use those races to practice and get a glimpse, on how horseracing betting is like.
Use the Betting Management Software
As in, any other sports if you do not set some rules and keep an eye on some factors you can get a nasty surprise that can cost thousands of dollars or even worse. That is the reason why you need to use these two options:
Total Payout: This is the amount of money you are willing to pay out players for each individual race. You can put any number, but keep in mind that if you go too high you can fall very hard.
Max Betting Limits: Set a betting limit that makes you feel comfortable and that don’t put your business at risk, in fact, is pretty common to find sportsbook that doesn’t allow more than $100 on straight bets: win, place or show for horseracing. So you can apply the same rules to your betting site.