Red figures for dummies
Top Bookie Software Give Software to Help with Red Figure
A Red Figure is not good. One of the best things you can do to make sure your sports betting operation works as well as you hope, is to become an expert in what you do. You need to learn the ups and downs of this industry, get to know your players and their likes and needs, but you also need to learn how to use things in your advantage.
Price per Head operators like www.RealBookies.com give you many different tools and benefits that, as a bookie, you can use to help you achieve a lot better results, and make sure that your players enjoy the best possible sports betting and online experience from the moment they log in until their last click, to log out.
Getting to know your business also means getting to know how it works and how you can take advantage of it, and for these matters, we want to review what a red figure means and how it can help you when you deal with agents.
Here’s what a red figure means for bookmakers
Working with agents is a big part of being a bookie. They are the ones that can help you get more customers easily, and what you do is that you give them a commission from the amount of money their players lost every week or every month. Simple enough.
However, what happens when their players have a winning week? That means not only that the agent is not only not making a commission that week, but that you will have to be paying them out of your pocket, as you are the bookie.
How do you get this money back? That’s when the red figure comes in, because the agent won’t make a commission again until the players lose the amount that they had originally won.
To make it easier, let’s put it in numbers. Let’s say that your agent has a package of 10 players, and this week they won $500. That means that you, as the bookie, will have to pay that agent $500 so that he can pay his players, right? Ok, then what this means is that this agent’s red figure now is $500. He will not make a commission again until that money is recovered. If those players lose $350 next week, the agent will still be in red for $150, so he gets no commission yet. Then the next week, let’s say they lose $500 and his red figure was $150, this means that he’s covering and completing the $150 he owed, and that leaves him an amount of $350 where he can now get a commission. So, if he gets a 25% commission, for example, then now he would be getting it full, $88 and it’s all good for next week as well.
It might sound like a lot of numbers, but it’s easier than you think when you have the best agent software in the business, and that’s what RealBookies.com can give you, all for just a small weekly fee per active customer. Join Price per Head now and enjoy the real life of a bookie!