arty:
Tons of information...Greatly appreciated. I especially didnt think about the 10 minute before kickoff so I could lay off.
I would definitely only be looking to collect juice and possible middles on the action taken. I would collect on Wed and pay out every Friday.
To clarify, I know the clientele pretty well and there would be 0 averaging over 500 a bet. Also, my largest bets so far this year have been 350 with an average of 100 a bet.
25 Clients-Quick Assumption of Betting Pattern (Also assume each bettor avgs 5-10 bets per weekend)
5 avg 25 per bet
10 avg 50 per bet
10 avg 100 per bet
5 avg 200 per bet
Thanks again!
I would definitely only be looking to collect juice and possible middles on the action taken. I would collect on Wed and pay out every Friday.
To clarify, I know the clientele pretty well and there would be 0 averaging over 500 a bet. Also, my largest bets so far this year have been 350 with an average of 100 a bet.
25 Clients-Quick Assumption of Betting Pattern (Also assume each bettor avgs 5-10 bets per weekend)
5 avg 25 per bet
10 avg 50 per bet
10 avg 100 per bet
5 avg 200 per bet
Thanks again!
Take the money up front. Put it into an account that you coould physically show to people, as in a real bank account, have the book around so thatthey can see it if they want. You can always let them bet a little bit over their balance but keep it close to the vest.
That way it saves a lot on collections. if they want to bet and are broke they have to find you, and give you more money.
Friends or not, take the money up front. Guys will even feel safer knowing that you have cash on had to also pay them if they do win.
So if these guys are ptting 2500-5000 in action a weekend get at least 3500 from them. Might lower the clientele somewhat, but will also weed out the deadbeats.
That way it saves a lot on collections. if they want to bet and are broke they have to find you, and give you more money.
Friends or not, take the money up front. Guys will even feel safer knowing that you have cash on had to also pay them if they do win.
So if these guys are ptting 2500-5000 in action a weekend get at least 3500 from them. Might lower the clientele somewhat, but will also weed out the deadbeats.
Its a very bad idea to book action from friends. I have no experience as a bookie before. But I used to take actions from some friends and their friends on behalf for a local for a nifty 2% commisson per bet*win or lose*.
Since we take actions for almost every game. Baseball, bball, tennis, european soccer matches and I get really busy during weekends. My phone kept ringing non-stop as they tends to call every 5-15mins to check on the odds before wagering. If you're a happily married man and your wife support you for what you do, you're fine. I'm in my mid 20s and it greatly affect my life and serveral relationships wrecked. Imagine your girl in some silky lingere watching boring tv programs while waiting for you.. once you get all the bets done. She tell you, Im not in the mood now hun. *It SUX*
Whats worst is some of your friend could be jerks.. they call in to place big 4 figures. When you ask, they will give excuses like he is out with a group of friends and that amount is a shared action. Alright, when the action lost. He will give lame excuse like he couldnt contact his friends and he cannot afford to pay that amount lost.
As for "do you collect every weekend?" well, I collect 2% when I confirm an action heh. My local collect every weekend especially on those european soccer matches. I would advise you to take GREAT considerations before deciding to take action for friends.
Since we take actions for almost every game. Baseball, bball, tennis, european soccer matches and I get really busy during weekends. My phone kept ringing non-stop as they tends to call every 5-15mins to check on the odds before wagering. If you're a happily married man and your wife support you for what you do, you're fine. I'm in my mid 20s and it greatly affect my life and serveral relationships wrecked. Imagine your girl in some silky lingere watching boring tv programs while waiting for you.. once you get all the bets done. She tell you, Im not in the mood now hun. *It SUX*
Whats worst is some of your friend could be jerks.. they call in to place big 4 figures. When you ask, they will give excuses like he is out with a group of friends and that amount is a shared action. Alright, when the action lost. He will give lame excuse like he couldnt contact his friends and he cannot afford to pay that amount lost.
As for "do you collect every weekend?" well, I collect 2% when I confirm an action heh. My local collect every weekend especially on those european soccer matches. I would advise you to take GREAT considerations before deciding to take action for friends.
Clip Joint is right, credit is the only way to go, they will play more and lose more. Your best bet is to hook up with an offshore credit book and put your players in there on a split. Basically you will just become an agent, paying and collecting each week, lot better for legality reasons too. The players will still be yours, if you want to move them somewhere else you can at any time.
Your customers will benefit too with many more bet options than you could possibly offer, plus internet access and an 800 number, lines up all week.
Your customers will benefit too with many more bet options than you could possibly offer, plus internet access and an 800 number, lines up all week.
SCnit
First thing off is to "set" limit according to YOUR bankroll.
Lets just say that you have 10k to work with. Use 200 per game and if ANYONE gets 1000 stuck they must settle before placeing another bet.
Getting stiffed or even stalled is the ONLY way that you are going to get beat with 25-30 small players in the first place.
Probably will NOT ever have a looseing week.
KEEP limits in place because players get stuck an then wanna FIRE OUT on MNF. End your week on Sunday night and MNF starts new week. This keeps lots of things in proper order for you and not for the players.
Limit parlays to short amount like 20-50 and HOLD ALL of them.
If you start trying to lay off, and then get stalled or stiffed, you will find out that becomes a double barrell looser!
When one lays off it just like gambling anyway.
Another thing if you OPEN 1 hour before post time you will find out the numbers have Already been bet into shape. Stay open on saturday until the second round of games start. Close up and then re-open 1 hour for the night round only..
Start with Good set of numbers and MOVE according to YOUR action, not some offshore joint that might have moved on AIR to begin with.
Most of these type people will not be on the same side......unless they ALL know one another, then you have to MOVE quickly as when they see that they are getting the worst of the number you will force some not to play, or take the other side.
Moveing off of 3 is the really only dangerous number in the pro's. Dont be afraid to move those college numbers at all.
If you are able shade the 3's in the NFL and hang on!! 3-15 3-20 3-30 3-40.
2-team parlays 2.5 to1
3-team parlays 5-1
4 team parlays 10-1
Chit take the ties in the parlays if ya can get away with it!!
First thing off is to "set" limit according to YOUR bankroll.
Lets just say that you have 10k to work with. Use 200 per game and if ANYONE gets 1000 stuck they must settle before placeing another bet.
Getting stiffed or even stalled is the ONLY way that you are going to get beat with 25-30 small players in the first place.
Probably will NOT ever have a looseing week.
KEEP limits in place because players get stuck an then wanna FIRE OUT on MNF. End your week on Sunday night and MNF starts new week. This keeps lots of things in proper order for you and not for the players.
Limit parlays to short amount like 20-50 and HOLD ALL of them.
If you start trying to lay off, and then get stalled or stiffed, you will find out that becomes a double barrell looser!
When one lays off it just like gambling anyway.
Another thing if you OPEN 1 hour before post time you will find out the numbers have Already been bet into shape. Stay open on saturday until the second round of games start. Close up and then re-open 1 hour for the night round only..
Start with Good set of numbers and MOVE according to YOUR action, not some offshore joint that might have moved on AIR to begin with.
Most of these type people will not be on the same side......unless they ALL know one another, then you have to MOVE quickly as when they see that they are getting the worst of the number you will force some not to play, or take the other side.
Moveing off of 3 is the really only dangerous number in the pro's. Dont be afraid to move those college numbers at all.
If you are able shade the 3's in the NFL and hang on!! 3-15 3-20 3-30 3-40.
2-team parlays 2.5 to1
3-team parlays 5-1
4 team parlays 10-1
Chit take the ties in the parlays if ya can get away with it!!
Don't do it buddy!! I started with a few friends and ended up with nothing but a criminal record. I did it for years. I lived the high life for awhile but believe me, the stiffs won't pay you. I had over 100 players with 100's of thousands in action but was always chasing money. You have to be willing to collect the hard way or forget it. I had wives and kids calling to make excusses for the deadbeats. Finally the cops came calling {4 times}. After paying lawyers for me and my crew I ended up with nothing. Today, anybody that wants credit has no money. But if you have to do it, the only way is money up front. Believe me, its the only way.
SCnit said:
You WILL make Cash.
I did it for 7 yrs and had as many as 20 and a low of 5, never had a losing Yr. I took, depending on the sport and # of players 100-300 on any play and kept ALL 3+ tm parlays!!! and passed anything over that, to another bookie who gave me 20% with a back-total (the 20% was sweet, most just give 10%)
Bottom line BOOKS make Money.
A few other thing to think about:
If you know your players and think you might have a problem collecting from 1 or 2 of them, before things get ugly set a cap on them, that he agrees on; eg. -5 dimes, he's cut off until you get payment before you take anymore plays.
Same with people that carry over total to the next week. Make a limit like 200 max. You know they will ask when they are down. "uh buddy can we hold off until next week im kinda busy right now" or the No answer on thurs. collect day when you call them.
Most of my guys called for lines, after a few month that will drive you nuts....lol Hope you dont have a wife, she's going to freak. lol If you have guys the use the net use 1 site so they can check the lines. I used ScoresandOdds.com and could find equal or better odds to lay off online at game time if i got pounded on 1 team.
Also on the weekends and during baseball season with diff start times, in the early yrs guys calling all day adding bets, SO later on i said Noon/4 on Sat. and 1/4 on Sunday and bball reg. season Noon/7pm
Last ALWAYS read bets back and confirm totals EVERYDAY
Hope my 2 cents helps :lolBIG:
GL
Coop
With 25 players You cant Lose
I did it back in the late eighties, long before the internet. It was brutal booking friends plays. A couple of friends in particular could not hit a bet if their life depended on it. Nice at first but I felt guilty after awhile to where I suggested they do something else. My suggstion would be to take wagers and play them off at the Half point joints and " you yourself would actually get the extra half point" . Just a suggestion of course. I mean I would never do that
