To answer the question of how much money is needed to start up - in my MBA program I took an entrepreneurship course, and one of my classmates put together a business plan for an online sportsbook. I never saw the plan so I don't know how detailed he got in regards to betting limits and so forth, but he said in his presentation that the venture would require $10 million in reserve at the time of opening.
jwunderdog said:
What's a headshop? I only know a headshop as a place where I would go to buy a bong. I agree on the limits - $10 million seemed quite excessive, even for a shop that would have pretty high limits. But no one would ever submit a paper in a business school class saying that they are opening up a sportsbook with $10k, so I'm sure the guy was just being conservative and trying to get a good grade.
#1 500 k is enough to start small "recreational" book. 500 limit!
#2 Find bookmakers that want to move their business offshore for a head count price, (best deal) of course. Instant action!
#3 Dont open until the smoke clears from the openers and use Cris numbers from that point forward. Naturally have an account there at Cris for layoff's if needed. -20 baseball lines too, not looking for baseball players anyway. The football is where its at for ALL of em anyway. Beware of Wiseguy moves in the College ranks, stay ahead of the move, make the player lay the "bad" number if they want to chase the steam.
#4 Dont even think about opening until football season. Spend the summer trying to recruit players, whatever form is needed.
#5 NO wiseguys, they will be weeded out early anyway.
#6 Under NO circumstances BLOW the BR in marketing, the players will come through the other players, referrals better anyway. This is why the head count is so important. Players know other players its that simple.
#7 English speaking clerks and Supervisors a MUST, even if the cost a little more, besides you are the Supervisor, might need one partner for relief in busy times.
#8 Never leave the shop until it closes for the day, many reasons here.
#9 Offer best deal to the "other" clerks in the CR area, for wagering. They actually think they can outrun the vig, and LOTS of em too. Small players anyway, but good for local talk.
#10 Wish EVERYONE that calls Good Luck as it has no bearing on the outcome of ANY contest, be Nice to ALL players now matter what size they are!
#2 Find bookmakers that want to move their business offshore for a head count price, (best deal) of course. Instant action!
#3 Dont open until the smoke clears from the openers and use Cris numbers from that point forward. Naturally have an account there at Cris for layoff's if needed. -20 baseball lines too, not looking for baseball players anyway. The football is where its at for ALL of em anyway. Beware of Wiseguy moves in the College ranks, stay ahead of the move, make the player lay the "bad" number if they want to chase the steam.
#4 Dont even think about opening until football season. Spend the summer trying to recruit players, whatever form is needed.
#5 NO wiseguys, they will be weeded out early anyway.
#6 Under NO circumstances BLOW the BR in marketing, the players will come through the other players, referrals better anyway. This is why the head count is so important. Players know other players its that simple.
#7 English speaking clerks and Supervisors a MUST, even if the cost a little more, besides you are the Supervisor, might need one partner for relief in busy times.
#8 Never leave the shop until it closes for the day, many reasons here.
#9 Offer best deal to the "other" clerks in the CR area, for wagering. They actually think they can outrun the vig, and LOTS of em too. Small players anyway, but good for local talk.
#10 Wish EVERYONE that calls Good Luck as it has no bearing on the outcome of ANY contest, be Nice to ALL players now matter what size they are!
