A layoff account is a good way for online bookie agents to reach their goals. There are important aspects of a layoff account that allows bookmakers to efficiently manage their businesses. But, there are also misuses of layoff accounts that can lead to ruin. See below for more information on the all-important layoff account.
What’s a Layoff Account?
Bookmakers can use layoff accounts to minimize risk or balance wagers on both sides of a spread. It’s important for online bookie agents to understand that layoff accounts should exclusively be used to minimize risk or balance wagers on both sides of a spread. Any other use of the layoff account can lead to disaster.
Below is an example of an actual, possible, spread wager.
New York +4
For illustration purposes, suppose that Dallas is a -4 favorite versus New York. Now, let’s assume that Dallas has won 12 games in a row. Some online bookie agents, no matter what happens in Las Vegas, could end up taking 90% to 95% of bets on Dallas to cover at -4. Maybe, a specific pay per head agent only has casual players. Or, maybe, the specific agent only services players living in the Dallas, Texas area. Whatever the case may be, some PPH football agents may need to layoff money bet on Dallas to cover.
Check out a couple of specifics about the layoff account:
- The layoff account is a financial management risk tool – It’s to be used the way that financial managers use options to minimize risk in stock investing. Sometimes, like in the example above, an agent might truly believe that New York will cover the spread, its best to just minimize risk instead of trying to balance money on both sides of a spread.
- It’s not to be overused – Overuse could lead to leaving money on the table. If an online bookie agent decided to balance the book in the above example and New York did in fact cover, 90% profit goes away. Therefore, it’s important for bookmakers to understand how to use their layoff accounts.
There are reps available to chat with any per head agents or potential online bookie agents who have questions. The phone number is 888-978-0688 if agents prefer to call.