Holes for stability
The reason I make holes in the bottom of the head is to cut weight out from the centre, so that more lead is needed at the ends. This improves the MOI, or 'moment of inertia', to give it its full name. It is a measure of how likely the head is to twist if it happens to hit the ball slightly off centre. A 12" head is best, but even that can be improved by drilling two holes and covering up the ends as shown in my own, somewhat battered mallet below.
You can see that by some superb carpentry the holes are nearly invisible, since the grain of the wood used to cap them is the same as the head wood. This carpentry takes time and I've now become reasonably slick at it, but I need to charge £10 or $20 for it. However, there is a simpler alternative and that is to leave the holes uncapped as in the lower picture and this is now standard in all new mallets, without extra charge.
This shows two 11" heads made from Goncalo Alves wood. The holes are lacquered (or oiled in this case) so are fully protected from moisture. So why cap them? The choice is yours.
Having open holes does change the sound of the head hitting the ball - it's a lower note, but I tell players to get used to it and enjoy the benefits!
