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Make Payments On Time As A Bookie

Bookmakers and Payments
One of the smartest things an independent bookmaker can do to successfully run his business is to partner with a reputable ‘pay-per-head’ service that can handle most of the administrative tasks that go hand-in-hand with taking bets. At the top of the list of the key services they can provide is managing all the financial transactions that go into opening an account, placing wagers, depositing funds and paying off bets. 

When it comes to financial transactions, paying off bets is guaranteed to be at the top of the list for all of your customer’s concerns. They need to feel secure that any winnings will be quickly assessable and promptly distributed. This means that you need to do your homework when it comes to actually selecting a pay per head company. 

Bigger is not necessarily better, but the larger companies in this industry have the best chance at being up to date with their technology and sports betting software. If they are used to handling a large amount of transactions each and every day of the week, you would have to believe that their systems for handling deposits and paying off bets have to be up to speed with the latest industry advances in the bookmaking business. 

The task for assuring that your pay per head service can cater to the needs of your customer base remains yours and yours alone. A quality pay per head service can be an extremely valuable tool in freeing up your time to concentrate on managing and growing your customer base so it is extremely important to gain a thorough understanding of what they can and cannot do. 

Most if not all problems in business revolve around miscommunication and misunderstandings. Be sure that you have your pay per head’s service agreement in writing to avoid any problems between what your responsibilities are and which ones are theirs when it comes to the day-to-day operation of your bookmaking business. Trying to resolve any issue after the fact is often times much more difficult to accomplish, so it is mutually beneficial that both sides of the equation remain on the same page at all times. That is why a clear definition of roles and responsibilities when it comes to managing your customer’s account is paramount to developing a strong and prosperous relationship with your pay per head provider.

You are the face of your organization, so if there is a dispute over any type of financial transaction, you can rest assured that your customer is coming directly to you. They are not going to want to deal with a pay per head company’s customer service department to get something resolved. They are going to want you to make things right as their bookmaker.

Getting to the nuts and bolts of payments, your pay per head company is responsible for making payments in the form of account withdrawals, but they have no control over having the necessary funds required to handle these withdrawal requests. It is your job to make sure there are adequate funds available pay off your debts. Your entire bankroll needs to be large enough to cover twice the combined credit limit set that you have extended to your customer base.

That being said, you should always be actively managing the betting habits and patterns of all your customers in an effort to try and keep them betting with their heads not over them. Things happen extremely quick in the world of wagering on sports, especially the times that you are not successful of laying off the action when things suddenly swing one way or the other. Your pay per head service is there to process your customer’s financial transactions, but once again, it is your job to make sure they have the proper funds to meet any and all requests for payment. 

 

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