Ask OldmanTed - For Newbies Only..Includes Mod Email Addys.

[oldmanTED]

Numbercruncher

Hello. I've just signed up and I've got a couple questions. I haven't done the online gambling thing in a long time, I've had a trusted local for years, but he's out of business so I need to go elsewhere. My last online gambling venture was long before the UIGEA passed.

Is it still OK to provide basic information the books like address, phone number, stuff like that? I would think it probably is but just wanted to make sure.

Are WU deposits still the best way to go? Thats what I used back in the day. I've heard some of the WU agents give you a hard time about wiring money to the people the books use to receive the money, suspecting its for gaming. I of course know not to tell them what it's for but I heard they ask a bunch of questions.

I'm thinking 5Dimes for my book, I looked at BetJamaica but I like to play some European soccer and it didn't look like BetJamaica offered much of anything for soccer.

5Dimes is a recommended book here and I've read a lot of good things about payouts, pricing, and offering lots of different bets, so I think they're a good choice.

Any help anyone can offer is greatly appreciated. Pretty basic questions I'm sure but I'd rather ask first and know for sure. Hopefully I'll be able to repay the favor with some winners after I get going!

First of all welcome to the RX. Now as to your questions. The UIGEA is still the official law of the land but that hasn't stopped offshore bookmaking nor players from opening accounts and depositing and withdrawing funds. Players still open accounts on a daily basis and provide the necessary personal information to do so. As for books, 5Dimes is an outstanding A rated book and it is both easy to open an account, deposit funds, and receive quick payments. You can deposit up to $1900 per day just through Western Union without providing any information to a WU agent except a driver's license as ID. In my area, no questions have been asked at various agent locations. The funds are in your account in approximately 20 minutes. If you have any additional questions, please don't hesitate to ask and most of all, best of luck to you.

 

[KingofNicotine]

I have a question, is it safe to give bank account info to sportsbook.com and have them wire the money?

Also dumb question maybe but are people able to rake in $100,000 in sports betting? I see some guy on another board making $100,000 since July but that seems like the exception.

 

[oldmanTED]

KingofNicotine

I have a question, is it safe to give bank account info to sportsbook.com and have them wire the money?

Also dumb question maybe but are people able to rake in $100,000 in sports betting? I see some guy on another board making $100,000 since July but that seems like the exception.

Yes! Actually a bank wire to and from sportsbooks is perhaps the safest method used. Large players prefer this method over any other.

Once again the answer is yes. There are some very good large players that are within that 3% I mentioned and take in that amount without blinking an eye. However, you don't see them posting plays on a forum site. They just make money and don't want to be known. When you see a poster claim to be betting 4 or 5 figures and winning 6 figures, they are betting monopoly money. As I said before, don't believe everything you read on these forums. The average size bet for most players on these forums is $25 to $50.

 

[KingofNicotine]

I see. I didn't realize betting could be so profitable. It makes me wonder how much a place like sportsbook rakes in per day.

 

[oldmanTED]

I see. I didn't realize betting could be so profitable. It makes me wonder how much a place like sportsbook rakes in per day.

As I said in an earlier post, the ultimate winner is the sportsbook because of all the income which comes in from amateurs. However, that doesn't mean that don't take sizeable hits regularly from professionals. When they do, they cut limits and then show you the door.

 

[KingofNicotine]

What? Is that true? They can kick you out if you win too much?

 

[oldmanTED]

What? Is that true? They can kick you out if you win too much?

Absolutely. It has happened to me at many sportsbooks and I know a number of our members who have either had their limits cut to next to nothing or their account closed and the remaining balance sent to them.

 

[KingofNicotine]

That's horrible. I don't supposed they would see $10,000 a big win right? That's what I'm aiming for right now.

 

[oldmanTED]

That's horrible. I don't supposed they would see $10,000 a big win right? That's what I'm aiming for right now.

Depends on the book. Some books are more for recreational players and if you hit them with a 10K win, they might cut your limits and not necessarily show you the door the first time. With larger books, they'll take the 10K play and pay you and allow it again, perhaps a few more times, but if you are a consistently large winner, even at a large book, they will cut your limits first and then close your account if you keep beating them. You have to understand, this is a business. They are not in business to lose money to a sharp player consistently.

 

[KingofNicotine]

Yeah, I know I wonder where the guy at the other forum plays at if he's already made $100,000 and they allow it?

I guess if you're good you gotta keep moving from book to book.

 

[oldmanTED]

Yeah, I know I wonder where the guy at the other forum plays at if he's already made $100,000 and they allow it?

I guess if you're good you gotta keep moving from book to book.

Forget about the guy at the other forum. He's not playing with real money, just monopoly money and looking for attention.

As for books, yes, sharp players are constantly spreading their money around at many books but still are looking to open new accounts at new books trying to stay ahead of the game. It just comes with the territory.

 

[KingofNicotine]

Thanks for all the answers. I'm kind of disappointed at all this. I was expecting to make good money on the side from this.

 

[oldmanTED]

Thanks for all the answers. I'm kind of disappointed at all this. I was expecting to make good money on the side from this.

You're welcome. You still can but you just have to work at it. Best of luck.

 

[KingofNicotine]

Thanks.

 

[Numbercruncher]

First of all welcome to the RX. Now as to your questions. The UIGEA is still the official law of the land but that hasn't stopped offshore bookmaking nor players from opening accounts and depositing and withdrawing funds. Players still open accounts on a daily basis and provide the necessary personal information to do so. As for books, 5Dimes is an outstanding A rated book and it is both easy to open an account, deposit funds, and receive quick payments. You can deposit up to $1900 per day just through Western Union without providing any information to a WU agent except a driver's license as ID. In my area, no questions have been asked at various agent locations. The funds are in your account in approximately 20 minutes. If you have any additional questions, please don't hesitate to ask and most of all, best of luck to you.

Thanks oldmanTed, it was no problems at all.

 

[KingofNicotine]

Hey OMT, what is your opinion on betting exchanges?

 

[oldmanTED]

Hey OMT, what is your opinion on betting exchanges?

Very valuable tool that you should have as one of your outs. Low commission and excellent juice. Will save you a great deal of money but shouldn't be your only out because there are times when you don't get the best price.

 

[DeltaIntegrale16v]

I'm new here, so first, Hi OMT!

Now my questions

Does betfair give limits to players? I Want to deposit 500 euros, should I deposit at a online bookmaker or deposit at betfair?
Are there any other sites like betfair?

And finally, are there any differences between european and american bookmakers? thanks in advance

 

[oldmanTED]

DeltaIntegrale

I'm new here, so first, Hi OMT!

Now my questions

Does betfair give limits to players? I Want to deposit 500 euros, should I deposit at a online bookmaker or deposit at betfair?
Are there any other sites like betfair?

And finally, are there any differences between european and american bookmakers? thanks in advance

First of all welcome to the RX. Betfair is one of our proud sponsors and you can deposit there and because you are now a member of the RX, you can turn to us in the event you should need our help. Betfair is very large and longtime bookmaker in this business. Provides many options that other books do not.

As to your second question there are many differences in all books. Many offer a wide variety of different types of bets then there competitors. Many offer less juice when making a play, thereby saving you money over the long haul. Listed above are all our sponsors. Click on any one of them and you can open an account online in a few minutes without depositing funds.

It is always good to have two or more accounts so you can shop for the better line. I would recommend that you consider opening a 5Dimes account as well, but that is strictly up to you. It is both easy to deposit funds there and their payouts are very quick. Below are the links to Betfair and 5Dimes. You can't go wrong with either of these two books. Best of luck.

http://promo.betfair.com/sports/ca/trx100.asp?rfr=8113

http://www.5dimes.com/default.asp

 

[DeltaIntegrale16v]

Thank you, OMT, for this long answer.

Just two more things,

at which winning amounts do sportsbooks normally limit your wagers and

why do I have to wait for an admin till my post is on the screen? can you turn this off?

thanks