by Bryan B.S.
25 Aug 17
The wager industry is not exempt of bad apples that use dirty tricks to drain money from betting sites. These scammers have lots of skills and knowledge to rip off naive bookies that are unprepared to deal with them, if you don’t want your bookie business going broke after a couple of months of starting, you should partner with a Pay Per Head Provider that offers you a complete set of risk management tools to avoid losing money and keep your investment secure.
One of the simplest and basic tools you can use to keep an eye on every move of your betting site is the real time live bet ticker; this allows you to monitor all the wagers as they're placed on your site. If you are new to the wager business this is the best way to start since is really simple to use and if you don't have lots of players you can easily keep track of all the action and act when you spot something weird.
The downside of this tool is that you have to watch the ticker all the time, and if your site has lots of players you will be overwhelmed with the information. For larger bookies we recommend to use these tools for big events like a Super Bowl or a World Series, where you can focus on particular wagers.
Pay per head providers know that you don’t want to be or can be in front of the computer all the time, that’s why most of the betting softwares on the market offer you the possibility to set bet alerts.
For example, if you already know that your players place bets around $100 to $500 per odds, you can set an alarm when someone places a bet of $2,000, the betting software will send a notification via text message to you with all the information: player’s ID, amount of the wager, odds he’s betting on, and other key details, so you can avoid nasty surprises and can make a decision about taking the bet or not, based on the player’s reputation and how the possible outcome of the wager affects you.