What is an online bookie master agent + commission systems
The US sports betting industry is growing at a rapid rate, following the repeal of PASPA, presenting first-mover opportunities in many different states. With that, operations will become larger and more complicated.
An online bookie master agents system for sports betting agents allows you to take a step back from day to day player management and customer service, enabling you to focus on topline performance metrics and big-picture tasks for your bookmaking business. By creating a network of sub-agents, you can transfer the sportsbook’s front-line responsibility to them.
PPHSportsbook.net offers numerous Master agent systems and solutions to bookmakers looking to take that next step and expand their business or switch to a new, more reliable and more advanced pay-per-head sportsbook provider. It is a smart way for existing online bookie agents to expand their player network, along with the scale and the scope of their operation.
What is an Online Bookie Master Agents Network?
- The agent (master / subagent) username
- The week starting date
- The final balance for that week.
- Remember these are agent figures from the players’ point of view. So a negative number means the players under that specific subagent lost more than they won in the given week. In other words, the agent made money out of that player sheet.
- Comm. Type:
- This is the type of commission system the master agent and subagent are choosing to work in.
- Comm. Amount:
- This is the amount the subagent receives
- Prev. MU:
- “Previous Make up”. This is the “red figure” (only displayed if the agent is using the “red figure” commission type.)
- New. MU:
- “New Make up”. This is the “red figure” (only displayed if the agent is using the “red figure” commission type.)
- Previous Balance:
- This is the balance on the agent account prior to the accounting distribution running.
- New Balance:
- The agent balance after the agent distribution accounting is done.
- The username of the subagent’s master agent.
An online bookie master agents network is a player referral network, headed up by a sports betting bookmaker (the master agent) who is responsible for several sub-agents. These sportsbook sub-agents are responsible for new player recruitment and day to day care of the player base.
Be aware: developing an online bookie master agents network does not mean all the work is handed over to the sub-agents; there are some new responsibilities that are required for the master agent system to work efficiently.
A key responsibility is managing and paying any commission earned by sub-agents. Timely, correct payments are an incredibly important factor in keeping a satisfied group of sub-agents that are willing to recruit and nurture your customer base.
One of the biggest risks of creating a network of other online bookie agents for the master agent is the responsibility to bankroll the entire network of sub-agents. But don’t worry, there are a wide range of commission structures that you can use to run your online bookie master agents network. That way, you can make sure all commercial agreements (whether red-figure, revenue share or flat fee) are optimised to protect the overall network’s exposure (keep reading to learn more about these systems at your disposal).
Why Develop an Online Bookie Master Agents System?
There are many advantages to developing a network of sportsbook sub-agents. The primary advantage is that it allows the online bookie master agent to step away from day to day player management and customer service and focus on larger, more strategic tasks. In any growth industry, you need to be able to look upwards and outwards, rather than downwards and inwards.
The signs that you need to start developing your network often become apparent themselves, making it an easy decision to take that next step. Perhaps your player base has grown to the point where you are not able to offer the same level of customer service? That’s very common and often results in players moving to other operators who can offer something more.
Maybe you have recruited too many players to be able to handle the book accurately and effectively? Or conversely, you might just be ready to expand, having taken the business as far as you can without additional resources.
The addition of sports betting sub-agents are the ideal resource to allow you to delegate certain responsibilities and mitigate all of the above issues, enabling you to focus your effort and time into overall profit levels and reducing your exposure, whilst maintaining customer service levels.
Using an Online Bookie Master Agents System to Develop an Effective Network
Like all networks, a bookmaking agent network relies heavily on trust between the master agent and sub-agent. A common way of finding trusted sub-agents is by looking at your existing customer base. Many players want to subsidise their wagering expenditure by recruiting other players, so reaching out to them is a good place to start. New sub-agents are also more open to starting on lower commission structures, enhancing your bottom-line.
As previously mentioned, the commercial agreements between master-agent and sub-agent can make or break the business. There is a wide range of commonly used commission structures available through PPHSportsbook.net, as seen below:
Agent split means that both you and your subagents are taking risk and that the subagent is in charge of paying and collecting funds. So, if the players win then the subagent will be owed money to pay out the players, if the players lose then the agent will owe money because he will collect from them.
Agent Red Figure:
Red figure means that the subagent is taking no risk if the players lose then he will receive a percentage of the losses and if the players win then he will lose nothing and whoever is backing the sheet (the online bookie master agent) will have to pay the whole amount won. If the players win then there will be a red figure which the players then have to lose in order for the subagent to again start receiving commission.
Again, this is an SUBAGENT red figure meaning that he is in charge of paying and collecting so if the players win, he will receive money to pay them and if they lose then he will owe what is left over after he takes his percentage.
Agent Weekly Profit:
In weekly profit accounting is similar to Red Figure in that the subagent takes no risk but, in this case, there is no red figure kept. If the players win one week but lose the next the agent will receive his full commission the week they lose. Again, this is an SUBAGENT red figure meaning that he is in charge of paying and collecting so if the players win, he will receive money to pay them and if they lose then he will owe what is left over after he takes his percentage.
Another variation of these methods are that in which the subagent is not in charge of collecting and paying out. He simply refers players to the online bookie master agent and is paid whenever his players end the week in negative. Otherwise the red figure rule is kept and he is paid out only once that figure is covered.
How to monitor sub-agent activity
One crucial component of developing an effective network of sports betting subagents is having the correct platform. PPHSportsbook.net offers an industry-leading online bookie master agents system, enabling you to monitor all of your sportsbook sub-agents activity with confidence and ease. The reports available within PPHSportsbook.net offer detailed information for managing your player profiles and limits, recording deposits and payouts, reviewing and setting credit limits and more.
As your network expands, you will have to build trust with more and more sub-agents. As a default, only giving the sub-agent read-only data rights, rather than edit rights, is important to protect all reporting and data from tampering. You can also prevent sub-agents from being able to remove wagers, should you wish to do so. This sort of protection gives you the peace of mind that your figures are accurate and your sportsbook business is performing as it should be.
If you think your business is ready to take the next step and expand into an online bookie master agents system, then speak to PPHSportsbook.net today and schedule a demo with one of the experts.
There are a huge number of advantages to developing a network and a wide variety of ways to do it. At PPHSportsbook.net, we guarantee a full audit of your business to ensure you get the most applicable solution.