Iceman said:
No way. 30% is very high. Remember if you go week to week (most of the time) then if someone does not pay they cannot bet with you anymore. ANd people want to bet, period. Why do 95% of people lose and yet most still bet??? Because they LOVE to. It is around 10% or less if you run a good operation for sure. Established books have a set number of people every year....some leave and you take solid additions thru referals (if you want to call it that)...Most just do not take anyone. It is not like the Yellow Pages and you do not know the guy on the other end of the phone. You have to be careful who you take. Way less than 30% fora good book.
Iceman said:
Yeah a definite amount is surely lost. A friend of mine was a book and a guy never called at the end of the year and avoided him big time...so my friend bumped into him and guess what he said. Hey no problem, do not worry about that. No worries. Call me next year and all set.
Next year that guy did call and my friend cleaned him out again. By using his business sense and overlooking that last payout he got the guy back. The guy loses like most and his business was welcome. I probably would not have sone that but hey it is a botom line business and he was smart.
You definitely get stiffed. If you are smart and well manged you still make out well. I would not want to deal with scumbags. No thanks.
Iceman said:only if you promise to give me the run arounduppy:
done!
Seriously, i am always the friend that is owed money. To make it worse, i have had people owe me money and then when i have asked for it, they tried to make me feel like a jerk for asking for the money. I rarely loan money these days unless i have a good history with the person.
The problem is that you almost inevitably blow out your small players. The average player can only lose 3 to 5 dimes a year. They can go on tilt and easily blow out, and then you end up dealing with someone who's money is bad. I'm done dealing with people that have no money. Been there, done that. I'll take gambling over booking every day of the week. Like someone posted earlier...when you're a talented gambler, it's like you're the bookie anyways. Talented players end up being paid basically from the square money.
Very true, but a wise man once said that the best way to get some jagoff family member or friend out of your life is to have them stiff you on a loan. Generally they will avoid you at all costs. Money well spent sometimes.
That said, if extending credit was your "business" (as a bookie), you couldn't afford to operate in this matter. The lure of gambling next week should be enough for most people to square up with you on Monday.
Gil Renard said:
You just hit on one of my secrets...If I don't want to see somebody any more, I loan them $100 or $200 and that's it. It's a wonderful, powerful tool to use.
I remember I loaned a girl $200 that I didn't want to see anymore. She even wanted to pay me back about 9 months later, but I wouldn't let her...LOL.
primetime21 said:
Be careful with that too. Sometimes they will borrow money and pay it back, just to establish a little credibility with you and set you up for a bigger loan later. You'll know this when your asked for larger loans each successive time, and usually not long after they just paid you back for a previous loan.
Funny thread. Love how the topic has evolved into getting stiffed right after a few weeks where the books cleaned house.
Well, any of you that want to book, we have the software. Operate all your admin tasks right from your desktop. (lines changes, accounting, limits...ect...). We think our s/w should be quite popular as this industry goes underground again?
Well, any of you that want to book, we have the software. Operate all your admin tasks right from your desktop. (lines changes, accounting, limits...ect...). We think our s/w should be quite popular as this industry goes underground again?
