Once you are setting up your bookie software, you’ll be seeing a lot of exotic bets. These are usually a collection of both sports and non-sports related wagers. The definitions vary, so it may include bets that are not the basics: any bet that is not a spread, over/under, or moneyline. If we go by this definition, then it will include parlays, props, futures, and teasers, among others.
Another market you will see in exotics offered by a sports betting software company would be wagers on non-sports related bets. This means, as a bookie, you can offer wagers on elections, TV show outcomes, current events, and anything that tickles your fancy.
Exotic Bets and Your Sportsbook
Exotics usually come with higher risk. Which is why many sportsbook pay per head bookies will at least try to limit wagers to somehow control risks. Also, unlike sports game-related wagers, some of the wagers are so weird, that it would be hard to make an educated guess on the outcome. At least with sports, you somehow have history, roster, weather, and other factors to help you.
But exotics have the potential to also bring bookies a lot of profit. Since outcomes are difficult to predict, many players like the challenge that these types of wagers bring. Some would play it safe, like wager a little after getting a lot of good outcomes. While some will take the risk and go for good parlays, even mixed parlays.
As always, keep in mind that if a player thinks that there is a chance for a good payout, then it means that there is a chance that you will risk giving a high payout to your players. So when you are offering exotic bets to your players, just try to keep track of the action so you can try to balance the numbers and minimize risk to your bottom line.
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