It is a tough call in terms of setting wagering limits for your PPH players. You want to maximize your profit when you run a solid PPH site, such as one you can get from the reputable WagerHome.com, but you also do not want to get burned by losing too much when your players hit a hot streak or hit a big winner. Right off the bat, it is good to set betting limits, but you have to know as a bookie that you can always change them.
It is important as a PPH bookie that you know your players and their wagering tendencies. For example, if you have a consistent bettor that has been with you for a while and has been loyal, you can entice them to make further bets by increasing their betting limit.
On the other side of the coin, if you have a sporadic bettor that would not kill you if you lost, you can decrease their limit. It is all up to you, but one important rule of thumb is that you want to keep any player that makes bets with you. It is that simple, as with every wager, your player makes you make money.
This is why it can get iffy when making limits on betting, as you want your players to be happy in what they can bet. Any time you lower a wagering limit, those players may just bolt, and that costs you money.
Listen To Your Players
Have an open line of communication with your players. Do they want their limit increased? Will they leave you if you decrease their limit? How much do they bet? How often do they bet? These are all questions that you have to answer when being a bookie with a PPH site.
You want to make money, and to do that, you need players to wager with you. Decreasing wagering limits can put your players off, and they may leave or simply bet less, and that costs you money.
Any good PPH bookie will know what they have to do in order to turn a profit. You can do things such as offering more wagers and staying on top of what your players want.
Also, get a feel for their betting limits that you have in place and if they are happy with them or not. If they are, great, they should bet with the service that you offer.
If they are not happy, find out why. Does it have to do with the betting limit? This is when you have to ask yourself, should I raise a wagering limit to appease a player?
Any issue that deals with increasing and decreasing a betting limit has to be looked at closely. Do some research. Having a set limit for players is always a good idea, but they can change. Again, you want to keep players and continue to make a profit with a PPH site.
When you start a PPH site, set betting limits for your players. Then get a feel for their betting tendencies and how they are doing. Increasing a limit is always welcome by players, but you still have to make money.
Conversely, decreasing a betting limit can chase away players, and you never want that. So, in terms of betting limits for your players, be consistent with them, and be open with them on if they like or don’t like those limits and deal with the issue accordingly.