Getting more players is the best way to grow your bookie business. There are several ways you can attract new players. One of the efficient ways to do so is through sportsbook bonuses.
However, offering bonuses is a double-edged sword. When done correctly, you can significantly increase your players. However, when done the wrong way, it can result to lower profits. Even worst, your bookie business might shut down.
Bonuses are ideal for sportsbooks that want to add players at a faster rate. Also, you can use rewards to lure players from competitors. Often, sportsbooks that are contented with taking wagers from a small group of players don’t offer bonuses. That way, they can control players who sign up to their bookie business.
Tips on Offering Sportsbook Bonuses
When you start learning how to be a bookie, the first step is to know how much you need to run the business. If you have a tight budget, this strategy for attracting players is not for you. You should afford to pay out bonuses without going broke.
Most sportsbooks offer around 10 percent of the deposit. However, there are smaller sportsbooks that provide more significant bonuses of 30 to 50 percent. Keep in mind big bonuses are red flags to players. Bookies usually can’t pay off winners and go bankrupt. You need to figure out how much you can afford to give away to become a successful bookie.
One thing to consider is whether to offer free play or a cash bonus. Most players opt for cash bonuses because they can receive the winnings from the bonus aside from the bonus itself. For instance, a ten percent bonus on a $100 deposit will give the player $110 in his account. If the player wins the wager, the deposit, bonus, and winnings will be part of the sportsbook pay per head account.