When opening a sportsbook, one of the first few things you will learn is setting limits. Each player that you add in your sportsbook should have betting and credit limits to make sure that your sportsbook will be able to handle the money. Then, the next type of limit that you should set in your sportsbook, is what’s called settle limits. This is basically the limit on the payouts that you give out given a certain period. Let’s talk about how you can use settle limits in your sportsbook.
For settle limits, you will set a maximum amount that you set for payouts for winners, as well as payments from losing wagers. The limits you set depends much on how much you want to spend to bankroll this. As what most sportsbook pay per head bookies do, they tend to go for weekly limits. This keeps things organized, while also making sure that the amounts do not get too high.
Use Settle Limits in Your Sportsbook
The settle limit is the best way that you can control the cash flow of your sportsbook. It also helps you determine your hold percentage, which can be very important during certain months, like during the NFL Season. Once you have a settle limit set, and you look at how your players are betting, then you can adjust their limits as you go on. If you have a regular set of players who are kind of predictable in their wagers, then this will be easy for you. As you take in more players, you will need to revisit this and adjust accordingly.
A lot of pay per head services also offer automated settle amount configuration for your sportsbook. This can be a great way to help you have more time to plan and strategize how you can generate more income from your sportsbook. And since you are using a pay per head sportsbook, any of the betting action, as well as the limits of your players, are very easily accessible. Managing your sportsbook becomes easy the more you understand your players, and when you are able to automate some of the processes in your bookie operation.