by Bryan B.S.
07 Dec 17
The wagering business is all about betting lines, that's why is a good idea that bookies understand a little bit about how betting lines work and why they are so important for the operation of your betting site.
If you are new in the industry don't worry about thinking that you need to be an expert on betting lines to run a betting site, if you are partnered with a reliable Pay Per Head provider, most of the work regarding betting lines will be undertaken by the per head oddsmakers, but you may wonder who they are, well they are betting experts that predict and calculate the outcome of an event, for example, an NFL game or a horse race, and in the case of exotic betting propositions, even elections, with that information they set betting odds that you later access through the betting management software and select which betting lines you want to feature on your betting site.
The job of an oddsmaker is not easy, for example for the opening line of any game they have to use lots of information coming from power rankings and other sources and with the help of computer algorithms and math formulas, they generate the first guessed outcomes. If a betting line is not balanced on both sides of the spread, the bookie can lose money. For this reason, bookies should be very careful when choosing a pay per head provider that has a staff of seasoned oddsmakers that know how to create betting lines that appear juicy to bettors and are highly profitable for the bookies.
Oddsmakers and the pay per head staff will take care of creating and providing lines for your betting site, but it is your responsibility as a bookie to keep an eye on how your players behave about each betting line, for example, if you are getting lots of bets on only one side of the spread then you should move the line, to balance the spread, in order to do that you need to rely on your betting management software.