Has anyone ever been a bookie? Insight needed

[Paterno]

My friends bookie has recently moved and they have been calling me to put bets in on my internet accounts. I am thinking about just taking bets for all of them and lay off for a small profit each weekend.

I would imagine my client list would be approximately 20-35.

Does the phone calls on Saturday/Sunday make your weekends unenjoyable? Did you collect every week?

Any other thoughts?

Thanks in advance!

 

[Fishhead]

I predict this is going to be a very enjoyable, humorous, and insightful thread to read as the replys come pouring in.

:homer:

 

[dmmd98]

Its a pain in the ass.......mixing money with friends leads to having one and not the other. If you can live with not ending up being friends with these people and just have them as "clients" sort to speak then go for it. But usually mixing money with friendship isn't a good idea

 

[JimFiestSux]

If you book frrom a friend or friends they are easier not to pay you knowing you than not knowing you. Bottom line is when you book you have no "FRIENDS". Also expect calls all day Saturday and Sunday and during the week too. You can't take from Peter to pay Paul. You have to have enough cash to pay each person each week whether you get paid or not!

 

[wilheim]

25 - 30 players is a lot to handle and most likely a very time consuming job (on weekends at least). Paying and collecting during the week requires planning and capitol. Not to mention the legal ramifications that have to be considered. Would I do it, sure if I had no other personal commitments. Maybe you can organise this into a sheet and somehow hook up Offshore so you get a percentage of what they lose (they will lose). Lots to ponder, bookmaking 30 players does require some brains and lots of organization.



BOL. wil..

 

[teazeman]

My friends bookie has recently moved and they have been calling me to put bets in on my internet accounts. I am thinking about just taking bets for all of them and lay off for a small profit each weekend.

I would imagine my client list would be approximately 20-35.

Does the phone calls on Saturday/Sunday make your weekends unenjoyable? Did you collect every week?

Any other thoughts?

Thanks in advance!

Just remeber this, if they don't pay when they lose you will. Probably best to try and run a number with someone so you don't get hung out to dry. If you need any help or advise let's talk as we are close and I can get you in contact with someone to help in this matter.

teazeman

 

[wantitall4moi]

You can make money with that many people as long as you do not get greedy.


All you have to do it offer them -110 accross the board, unless it is extremely different on a -3 game, then offer them the true odds on it.

You might be able to make more if you get a lot of balanced action, and then you can shop it around a lot.

You can also get some help for yourself if you tel them all bets have to be in 10 minutes before kickoff. That is alow rent move, but exlain to themthat you have to put the bets in also,and them calling you when the ball is on the tee you can't get the plays in.

That can help you balance ut your action and figure out any late kine moves that you might be able to use in your favor.

Unless you just want to be a buddy and give them exactly what you get, then you get nothing for it, and have to hope they pay you.

Or you could make them post up with you, and try that route.

But if you give them the odds that you yourself are betting, you should be getting a commision for doing it. That might sound better to them, but don't explain to them that in paying you a commision they are paying much more than -110.

 

[Journeyman]

25-30 guys is a ton of action! You would be surprised at how much action that will add up to....even if they're relatively small bettors 50,200, 500 a game, you would need a good 50k in reserve and that is money you could afford to lose and be willing to pay out without batting an eye....

I doubt you would ever lose that much in a week but if they did beat you early you could be gone in a month....it would probably be best to work outsomething with a partner of some sort (if you know what i mean)

Bottom line, your phone would be ringing off the hook, and you would have more action than you can imagine.

 

[Fishhead]

25-30 guys is a ton of action! You would be surprised at how much action that will add up to....even if they're relatively small bettors 50,200, 500 a game, you would need a good 50k in reserve and that is money you could afford to lose and be willing to pay out without batting an eye....

I doubt you would ever lose that much in a week but if they did beat you early you could be gone in a month....it would probably be best to work outsomething with a partner of some sort (if you know what i mean)

Bottom line, your phone would be ringing off the hook, and you would have more action than you can imagine.

25-30..........shoot, thats double what BCN probably has!

 

[aceduecetrey]

I always found it easier to act as though I was doing them a favor and was turning it in to someone else. This way you can be very strict when it comes to rules. You can set limits and schedules very easily.

 

[aceduecetrey]

journey- It is so much better to have 30 small players than 3 big players. I would say that with 30 players (if they are all relativly the same size player) that it would be next to impossible to have a single losing week.

 

[teazeman]

journey- It is so much better to have 30 small players than 3 big players. I would say that with 30 players (if they are all relativly the same size player) that it would be next to impossible to have a single losing week.

impossible to make any money as well.

teaze

 

[aceduecetrey]

huh?

I am willing to predict that you wold make money every single week, the main thing that you want to avoind is having 2 or 3 guys kill you, it sucks when you beat 20 guys and lose to 2 and end up down for the week.

 

[Journeyman]

Well I'm assuming with 25-30 players you may have all kinds of bettors, my point is it will add up fast, I was giving a worst case scenario...If he had a few guys betting dimes he could get in trouble early , with that many players and the ability to use offshore he shoudln't have that problem but he would have to be very organized...

Thats a lot of players for someone just starting and with so many variables its hard to give a perfect answer, you do need capital and planning, but in the end if these guys pay, it would be quite profitable.

And like Fish mentioned its 3 times as many players as BCN had so lets put it in perspective, this wouln't be like answering the phone for 15 minutes and jotting down on a piece of paper a couple thousdand dollars worth of plays....pretty intriguing though!

 

[teazeman]

you will make a little cash just not a big payday. with great risk comes great reward.



teaze

 

[Journeyman]

With that many, he would make money assuming they all pay...now when you get into taking games from 'friends of friends' thats when the trouble starts...

 

[Fishhead]

By taking all his action offshore, a LOCAL could NEVER lose.

Imagine taking $500 3-team parlays at 6-1 and going offshore and getting 6.5-1 or even 7-1 with the same parlays.

How about this scenario.......take a 5500 to win 5000 wager at +3.5 and then go offshore and layoff the wager at 5250 to win 5000 with reduced vig at +4 or higher............FREE shot at $250 or even $5,000.

The offshore community offers a great option for the local bookmaker for a variety of reasons..........one of them being an easy way to layoff action whenever they want.

 

[teazeman]

very true journeyman

 

[Journeyman]

By taking all his action offshore, a LOCAL could NEVER lose.

Imagine taking $500 3-team parlays at 6-1 and going offshore and getting 6.5-1 or even 7-1 with the same parlays.

How about this scenario.......take a 5500 to win 5000 wager at +3.5 and then go offshore and layoff the wager at 5250 to win 5000 with reduced vig at +4 or higher.

The offshore community offers a great option to the local bookmaker for a variety of reasons.

endless posiitive possibilities , when you really break it down and organize it..still comes down to knowing the customers and knowing you will get your money.

 

[aceduecetrey]

Jman- You are right, if you are taking dimes right off the bat, you should have at least 50k laying around.

Seriously though, look into what you might be facing if busted. The govt loves to seize property also, so it is not just what prison time you could get it is also what they could take from you. Most likely a slap on the wrist, but it always good to be prepared. It is easy for the govt. to say "hey plead guilty and let us keep what we have seized and you will not go to jail or take it to court and take a chance on going to jail for a extended amount of time"