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The 2 layers of risk management for bookies


Every business has risks that if not handled correctly can end up ruining what so much effort, time and money cost to build. For this reason, companies invest large amounts of money in systems and staff that are able to foresee and generate action plans to face all the possible risks and their disastrous consequences.

The betting industry is no exception and presents great risks for bookies, after all, it is an industry based on the results of games and events that depend on multiple external factors which the bookie cannot control. For example, tonight there could be a game between the Phoenix Suns who only have one victory so far this season  against the Golden State Warriors who lead the West with 9 wins this season, and the Suns could crush the Golden State in a result that no one would expect, and that in the case of bookies if they don't perform the risk management properly and on time, this result  could cost a lot of money to them.

To deal with cases like this, we present the 2 layers of risk management that bookies should have.

Software Risk Management 
The first layer that every bookie must have is the software one. Bookies must have a robust and powerful software system that allows them to handle all aspects of their betting business from anywhere in the world and at any time of day. In addition, this software should have the capabilities to record everything that happens in the betting site to the smallest detail, so that the bookie can have all the information he needs to make decisions, foresee possible situations of risk and take corrective actions.

Human Risk Management
It does not matter how powerful and complete a software is if it does not have the human component to use in the right way and get the most out of it. It is for this reason that the other layer of risk management for bookies is that which corresponds to humans, on the one hand the bookie controlling all the important aspects of their business and also keeping a close eye on the behavior of the players and on the other hand the Pay Per Head partner line managers who are watching all the variables that can affect a line 24 hours a day and moving it accordingly so that the bookie always has attractive and profitable bet lines.

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