In the last Super Bowl, we witnessed how a streaker invaded the playing field.
Later on, the news began to circulate, indicating that the streaker had obtained a profit of $50,000 for his stunt because he had placed a bet on a +750 prop bets that a streaker would appear during the game.
The problem is that the information seems to be uncorroborated. And according to several industry experts, it is unlikely that an online sportsbook will publish a prop bet with such a high limit.
Moreover, experts point out that most sportsbooks limit their prop bets between $10 to $100. This is because the prop bets can get out of control and put the bookie in trouble.
For example, imagine that the information is true and that the streaker managed to place that bet. This means that the sportsbook took a significant loss, as the prop bets are not two-sided and cannot be balanced like the other betting lines.
In other words, the sportsbook had to use money from its bankroll to pay the winning bettor (s).
Establish betting limits
This situation leaves an important lesson for Pay Per Head bookies, and that is to set betting limits for prop bets.
Prop bets are very popular and attract many bettors, but you have to handle them with care and put the proper mechanisms in place to keep them under control.
We recommended that before publishing any prop bet, the bookie determines how much action he can have, the probability that the outcome that the prop bet raises will occur, and the possible winnings that bettors would take if this happens.
By analyzing this information, the bookie can project how much bankroll he would need to pay the bettors of the prop bet if the worst-case scenario occurs.
Also, thanks to this data, the bookie can use the betting limits tool provided by his Pay Per Head provider. And establish a limit that is reasonable and does not expose the business.
In fact, thanks to the Pay Per Head provider’s tools, the bookie will be able to closely monitor the betting activity that the prop bet is registering. If the prop bet begins to represent a risk for the business at any time, the bookie can take the necessary actions.
Bookies with a good Pay Per Head provider can protect their business and keep everything under control.
For this reason, it is imperative to learn to fully use all the tools and platforms that Pay Per Head providers provide us.