Pay Per Head software reports allows bookies to keep track of everything that is going on in their business. These reports provide valuable information about customers betting habits and each bet’s risk and allow the bookie to track every customer account and every dollar.
When bookies use their pay per head software reports correctly, their life and work are much easier. In addition, they can make better profits by being more effective and efficient in managing their betting operation.
What is Pay Per Head Software Reports?
The best software on the market has a robust reporting tool that allows bookies to know all kinds of data about their betting business.
Some of the reports that can be created from this tool are:
Open Bets
It shows all open bets and the risk that each one represents for the business.
Weekly Balance
You can review the weekly balance of each player’s action, or you can view the balance for each day.
Player Standings
Displays the weekly balance by sport, horses, and casino.
Player Totals
Here you can find the weekly balance in total bets, including wins, losses, and net for a given period.
Agent Gross
You can check the total winnings for the week and the projected potential winnings.
Do’s and Don’ts of Pay Per Head Software Reports
The reporting tool is very powerful. When used correctly, bookies can easily take their betting business to the next level.
But not all bookies know what to do with the reporting tool. For this reason, let’s take a look at the do’s and don’ts.
Do: Streamline your internal processes
The reporting tool allows bookies to perform various essential processes and tasks in a simple and agile way.
For example, through a win/loss report, bookies can know how much money they have to collect and payout to their bettors.
Previously, bookies had to spend hours doing tedious calculations to determine how much to pay and collect from each player. For this reason, independent bookies could not cater to a large number of players. In addition, due to the complexity of the calculations, the slightest mistake could cost the bookie hundreds of dollars.
Thanks to the reporting tool, bookies no longer have to worry about anything. They can have a detailed and 100% accurate report of how much money they have to move with a couple of clicks.
As a result, bookies do not have to spend a lot of time doing calculations and can pay out and collect fast and secure to all their bettors.
Making quick money moves in the betting business has many benefits. It has been proven that players who receive their winnings quickly end up spending that money on the betting site.
In other words, if bookies pay quickly to their players, they will come back to play much faster and spend more money, which translates into more profits for the business.
Do: Strategic Management from One Place
The reporting tool allows bookies to perform all the strategic management of their betting business from one place.
For example, bookies can check which bets represent a risk to the business by reviewing the backlog of open bets. With this information, they can make strategic decisions on what to do to reduce risk and ensure business continuity and profitability.
From the same software, the bookie can move from the report to the betting limits tool or the editing lines and odds tool to take the necessary actions to protect his business.
With a few clicks, the bookie can control everything that happens in his betting business from the bookie software.
Do: Establish a Better Relationship With Your Customers
Employing the reports tool, bookies can get to know their customers better. The reports allow bookies to identify betting patterns and bettors’ tastes and preferences.
As a result, the bookie can better adapt its strategies to provide more personalized attention to its most important bettors.
For example, if there is a regular bettor who places a bet every weekend on his favorite team. The bookie can offer him a bonus or special promotion on his birthday or for the next big game of his favorite team.
As a result of this strategy, the bettor will feel special and will want to stay longer as a customer of our betting site.
The reports are an excellent tool to develop loyalty tools and retain bettors for a more extended period of time.
If you use the reports correctly, you will get to know your customers and establish closer relationships with them.
Do: Help Players to Control Their Gambling Habits.
Nowadays, bookies need to provide their customers with mechanisms to control their gambling habits, especially players with an addiction.
The best software on the market offers an integration that allows bettors to view some of the data in the reporting system. For example, players can check their monthly activity balance. This way, the player can keep his betting activity under control.
Bettors can also request the bookie to set limits and alerts to their accounts. This way, the bookie receives a notification when the bettor has exceeded his betting quota.
Offering this type of support to bettors allows bookies to build customer loyalty, comply with the law and protect their business in the long run.
Don’t: Get Overwhelmed by All the Information of the Pay Per Head Software Reports
Many bookies miss out on the reporting tool because they are confused or overwhelmed by the amount of information.
Depending on the size of the betting operation, the reporting tool can produce a mountain of data in a few days.
Bookies have to learn to navigate through all that data and use the data that actually produces value for the business.
It is important that bookies take the time to determine which reports are most important and which offer the best information to make strategic decisions.
Some bookies make the mistake of believing that they must use all the reports and all the data the tool compiles. The right way to make the most out of the reporting tool is to determine a strategy. Choose the data that will help you take your business to the next level and learn everything about how that data is collect and process.
Don’t: Miss Anything that is Going on in Your Business With Pay Per Head Software Reports
When partnering with a Pay Per Head provider, it is crucial that you take the time to learn how to use their reporting tool to its fullest.
If you have questions about using certain functions or interpreting certain data, ask your Pay Per Head provider’s customer service staff. The best providers on the market even assign an account manager to help you with every inquiry you may have and at any time.
Don’t make the mistake of underestimating the potential and value that this tool can have for your betting business.
Check the best Pay Per Head reviews frequently to find out which provider offers the best reporting tools.
Don’t settle for just any reporting tool, and try to use one that you are comfortable with, is easy to use, and you can get the most out of.
If you want to conquer the growing betting market, then you need a powerful reporting tool.