When it comes to running a bookie pay per head sportsbook, its imperative that you know the various risks in your operation. Line management is a big part of this, but so is player management. While you are bound to encounter a lot of different types of bettors, there are some you should be looking out for. Get to know what steam chasers, sharps, and arbitrage bettors are, and find out why you should be aware if any of them are players in your sportsbook.
Steam Chasers, Sharps, and Arbitrage Bettors
First off, let’s talk about steam chasers. These are bettors who are out to look for steam moves. This means that a group of professional bettors will all make the same bet at the same time. When this happens, as a bookie, you will see in your sportsbook pay per head the bets made. Naturally, you will move the line to try to balance both sides of the bet. When this happens, and you take too slow to do this, then a lot of them will place in their bets before you can shift the odds.
Next, you have Sharps. A sharp is one of the first things people tell you to avoid having when you become a bookie. Even if you do end up with one, it will help if you set a very low betting limit to minimize risk on your sportsbook. In fact, a sharp is a good reason for a bookie to adjust lines in a wager. A sharp is a full time, professional sports bettor who will take advantage of weak lines, slow line movement, and any other instance that can give them profit.
Next, we have Arbitrage bettors, or those who are into what they call arbing. This is when you have bettors who will wage on all outcomes of a specific game or match- but with different sportsbooks. Now, you may wonder how you can pinpoint an arbitrage bettor if the wagers are in different sportsbooks. Easy- those who do this have specific amounts in mind to be able to maximize profit. These bettors have wagers that are hardly whole numbers. If you see someone betting with a lot of change or decimals in the wagers, then they are most likely Arbers.