You just moved your bookie operation to and you could not be happier. However, you are still running into the one problem just about every bookie has at some point, you are chasing money as the season progresses because players run out of money or get buried. How can you prevent yourself from digging into your pocket when you should be banking money?

When gamblers get down money, they "chase." By this, we mean they start doubling up, playing the odds that sooner or later, they will end up winning. Do you realize that within just six bets you can turn a quarter bettor into a dime bettor? In the normal world, those figures mean less money. In our world, they are significantly more.

Look at how easy it really is. A player wants to win $25 so they bet $25 on a game and lose. Their next bet is $50 and the lose that, now they are down $82.50. They make a $100 wager just to get even and those that. Three bets, down $192.50. The next wager is $200 and is another loss, down $412.50. Their fifth bet is $500 to get even and make a few bucks and they lose that one too! Just five bets and they are down a total of $962.50! Guess what bet number six will be? That's right, a dime!

This little system is how casual bettors with big ideas end up going broke and then you have to chase your cash. As a local bookie that is using a pay per head service, you have three ways to prevent this from ever happening. You can set a bet limit, set a loss limit, or collect the cash up front.

Setting a Bet Limit - when you are using pay per head software, you can dictate the biggest bet a player can make. This should be discussed prior with the player so they are not surprised. After all, every player will step out from time to time on a hunch. Find out what their largest play is and if you are comfortable with it, that is their limit.

Set a Loss Limit - you will also have the ability to decide what a player's shut off point is, or line of credit. For instance, when they log in, they will see they have 1,000 points, or whatever the decided limit will be. If they hit that limit, the account is frozen until you clear it for more action. You can talk to the player and either collect money or let them go further.

Collect Cash Up Front - yes, we know this sounds crazy for a bookie, but how crazy is it, really? Sites like BoDog required players to make a deposit before they would allow them to wager, so why can't you? The beauty of this is that you are guaranteed to be able to collect your money. If a player wants a $500 line of credit, you collect $500 and they are good to go. If they lose, either they pay the figure or you take the money out of the stake and reduce their limit. Either way, you are not stuck chasing money.

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