Bookies can take a page from their arch-foes playbook by using player profiling to manage their business. In the world of law enforcement, professionals use a tactic known as criminal profiling. It involves observing criminals or potential criminals and, through those observances and certain other factors, making predictions about future crimes in an effort to stop crime before it occurs. You might be wondering what in the world this has to do with the gambling and sports betting industry. The answer is quite a bit! Though you obviously won’t be engaging in criminal profiling as a bookie, you should be doing something very similar—that something is known as player profiling.
Player profiling is all about paying attention to your players and the things that they do. It’s also about knowing your players and their histories and experience levels as much as possible. When you observe your players closely and know certain things about them, it makes it much easier for you to pick out risky players before they can cost you the big bucks. Just as cops stop crime in its tracks through criminal profiling, player profiling can keep losses from ever happening. Unless you have a good pay per head service on your side, however, analyzing your player activities can be extraordinarily difficult.
A good service is one that makes player profiling easy by giving you access to lots of information about all of your players. At any given time, you should be able to access detailed information about each of your players’ gambling activities. You should be able to see what each player bet on, the amount of each bet, wins and losses and other important statistics, any pages visited by the user while on the site, and much more. This is player profiling and the information, when studied carefully, can tell you a lot about your risk factors with each individual player. When you notice a sharp bettor who is winning a little too consistently for your likings, you can easily cut him or her loose. By using profiling regularly and effectively, you should increase your hold percentage greatly while also gaining better control of your bookie business as a whole.