Why do bookies open up offshore when they can just bet?

sickgambler · Nov 12, 2003

If I live to be 100 years old, I will NEVER get this. This has to be the stupidest thing of all time. Bookies are sharp, and seeing they are sharp, why not just gamble from your own house in the U.S., instead of going offshore? A bookie makes 4.5% booking, and if he was to bet, he can also make 4.5%, if not more, very easily. A bookie offshore has tons of overhead. License fees, space, bonuses, employees, and so on.. A bettor who stays home and gambles has zero expenses, and.. they can make the same, if not more. If a bookie writes 200k a night, he can easily bet 200k a night if he wants to with the same return. If a bettor wants to bet 500k a night, he can. If he only wants to bet 20k a night, he can. You don't have to wait for someone to call you. If he wants to take a break for 3 weeks and go on vacation, he can. The bettor controls the game, and does what he wants and still makes the same (if not more). He doesn't have to leave his family and the U.S. He doesn't have to worry about getting arrested or doing something illegal. He doesn't have to worry about his door being busted down. He can work when he wants and not work when he wants. Unlike the bookie, he gets to choose the games he wants action on, and layoff any game he wants.

This just doesn't make any sense to me. I figure, a bookie who is sharp enough to run an office, is DEFINITELY sharp enough to create his own action, less all the expenses and headaches. If he's having a good week, he can up his plays. And if he's losing, he can lower em, or take time off, UNLIKE the bookies offshore. I don't know why bookies book when they can bet and make more. From a guy who used to be a bookie in this city for quite some time, IMO, you just cannot compare the 2. I would NEVER go back to being a bookie again if you paid me. And it has NOTHING to do with money, it's just funner, easier, more time for myself, and less headache. Freedom means a lot to me, and I will never get it why bookies still book, when they can control their own game here and be ahead half a million just to start each year when you don't have to pay any expenses anymore.. That alone should be good enough of an incentive. Plus, when you're a bettor, people pay you to bet (bonuses) instead of you paying them to play with you. If you see a game that has an advantage line wise, you can play it, or you can elect to not play it.. You control the game, unlike being a bookie. I could list you 58 more reasons why being a player has a way bigger advantage than being a bookmaker, but I have to go bet now and I don't want to make this post become too long, as it is already long enough.

I just don't get it, and I never will.

truthteller · Nov 12, 2003

Simple answer to your question.

Most bookies offshore are not sharp.

LIFESABET · Nov 12, 2003

uh.... because they wouldnt want to be accused of being:

scalpers, steam chasers, bonus whores, transaction maniacs, or syndicates?

just a guess.

JudgeWapner · Nov 12, 2003

The only sharp books are the ones that don't bet.

Fishhead · Nov 12, 2003

SICK- As most always, EXCELLENT POINTS THAT ARE RIGHT ON THE MONEY!

TRUTH- As good as Sicks post was, you came right back with the correct answer(although Sick allready knew the answer).

Both of you gentlemen need to be commended.

codeworks · Nov 12, 2003

umm because you can run off with post up money

and live large off all of the suckers

zackzk · Nov 12, 2003

Why..I'm not sure either, but its the same reason why you or other people cannot win at gambling or the stock market or the like. Over 95% of the people in this world are close minded and have very low risk tolerance.

angusr · Nov 12, 2003

Holy crap. If book-making is less lucrative than betting I'd be bankrupt and homeless 5 times over if I was a bookie. Thank God for small favours . . .

Fishhead · Nov 12, 2003

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by Angus Ontario:
Holy crap. If book-making is less lucrative than betting I'd be bankrupt and homeless 5 times over if I was a bookie. Thank God for small favours . . .<HR></BLOCKQUOTE>

lol......true!

sickgambler · Nov 12, 2003

boys, I appreciate the answers, but I will have to disagree with some of you. I do know of a few offshore bookies who do quite a bit of gambling and are sharp.

And IMO, one of you here just said that sharp bookies don't gamble, and I couldn't disagree more. The sharp bookies are the ones that gamble, because they can find weak lines and beat a lot of the slower books to the number, so they take advantage of them. Doesn't Spiro gamble?

I compare this whole thing to touts telling you to bet this game because it's a 10 star lock. Now if touts were so good, why are they not betting these games themselves instead of selling them? Just like why are bookies not creating their own action by betting their own games and making that 4.5% on their own, instead of depending on that phone to ring and then paying people (bonuses) to bet with you. Alot of bookies are sharp, so why the hell are they sitting there 5000 miles away from their country booking 30 dimes a night at 4.5% profit (not including expenses), when they can bet 60 dimes in action from the comfort of their own living rooms back home in the US with their kids making 4.5% and way more.

Call me nuts, but IMO, the poster "codeworks" came up with the most accurate answer. Maybe they like to feel rich by having 300 dimes in post up funds and they like to use that money to go out every night and buy the rounds and eat the lovely dinners with their 19 yr old Costa Rican babes and come home and get some action while they feel like they're king of the world.

Who knows boys? Bookies can make a helluva lot more by gambling at home with no expenses, than to book and go through all the headaches..

wilheim · Nov 12, 2003

Obviously you have never worked in a successful book. The financial rewards are substantial, and almost automatic if the book is run well. Just remember the 11 to 10 is on the bookies side. The gravy is the gimmicks, like parlays, reverses, teasers, point-buying etc. Sure there is plenty of overhead, but it is manageable. Out of 100 bookies, maybe 2 could sit at home in front of a computer and grind out a living laying the 11 to 10. btw. there are some expenses involved betting for a living, granted they are minor, things like internet, sattelite and just ordinary living expenses like rent all come out of your winnings. (Unless you live rent free in a basement

).

wil.

5teamparlay · Nov 12, 2003

if a bookie takes 1000 bet on the packers -6, the player is betting 1100. THE BOOKIE IS ONLY RISKING 1000. He stands to win 1100. TO WIN 1100 GAMBLING A BOOKIE WOULD HAVE TO RISK 1210.
SO BOTTOM LINE ALL THINGS BEING EQUAL RISK 1000 or RISK 1210 to win THE SAME amount. BOOKING ACTION MAKES A HUGE ADVANTAGE OVER THE LONG HAUL ALLTHOUGH YOU DONT GET TO CHOOSE WHAT TEAMS YOU GET. BUT I'LL TAKE MY CHANCES RISKING THE 1000 to get the 1100 not the 1210.

HOPE YOU UNDERSTAND.

nets2k2 · Nov 12, 2003

So they can do the stiffing, and not be the one who is stiffed.

Fishhead · Nov 12, 2003

I swear, 3% of you give Sick credit for being right.....when 97% of the time he is dead on the money. But to answer your queston Sick, here are a few reasons off the top of my head.........

1. They want the feeling of having a REAL job.
2. Greed
3. Want out of the country anyway
4. Some are sharp and will make more money.
5. Warm weather and loose women
6. Lonely
7. Live in a fantasy world
8. Action
9. Lazy
10.To be further away from Montreal.

sickgambler · Nov 12, 2003

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by wilheim:
Just remember the 11 to 10 is on the bookies side.<HR></BLOCKQUOTE>

Willy and 5 team parlay boys.. You guys are wrong. Let me explain to you boys something. When a line is Lakers -6.5 and the book books a bet at that price, sure, they are making 4.5% and getting 11/10.

But did you know that if a line is Lakers -6.5 and I find the Lakers -5.5 vs the book, I now become the bookmaker and I am getting roughly 4.5% and it's like I am now getting the 11/10. That is all the player has to do is just find 1 point off the NBA sides and I am now the bookmaker, and it's not hard to grab that 1 point either. If a bookie/bettor is sharp, he can do it easily. I also get to choose how much I want to risk on it, and if I want to bet on it or not.

Bottom line is, a bettor can create 300 dimes in action if he wants and if he has the deep pockets for it and make more than any bookie can make if he wants (4.55%). My whole point here is opening a book is useless as hell and not worth the aggravations that come with it when all you really have to do is just bet yourself and manage your money properly and a good sharp bookie will make more in the long haul than booking.

And by the way, ask any sharp bettor on this forum. I am willing to lay any odds here that 8 out of 10 players will tell you that there is more money in betting, than in bookmaking. And 8 out of 10 would rather be betting weak numbers, steam moves, reduced vig, free half points, middle, scalp, and collect bonuses, than be a bookie and pay players to play with you, and spend a half million on expenses per year.

I just don't get it.

-Slim- · Nov 12, 2003

Sick, in a nutshell, you're saying a bookie would fare better by betting himself than from booking what others bet?

If this is the case, this statement has to be about as far from the truth as any statement can be.

You can always come back with booking has its risk also but there is no way you can compare one with the other.

To you betting might seem like a profitable proposition for reasons I need not discuss but in general, it really isnt.

sickgambler · Nov 12, 2003

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by STRUT888/FISHHEAD:
But to answer your queston Sick, here are a few reasons off the top of my head.........

1. They want the feeling of having a REAL job.
2. Greed
3. Want out of the country anyway
4. Some are sharp and will make more money.
5. Warm weather and loose women
6. Lonely
7. Live in a fantasy world
8. Action
9. Lazy
10.To be further away from Montreal.

<HR></BLOCKQUOTE>

Classic my friend, classic. But the sad part of it is that it is 100% true, and you couldn't be more right and accurate. That is exactly what I think. All 1 to 10 were right on Fishhead..

There is really no other explanation to this..

sickgambler · Nov 12, 2003

Yes SLIM, that is exactly what I am saying. I am not saying every bettor would be more successful, of course not. What I am saying is that if you are a successful bookmaker who totally understands the betting aspect and are very sharp, then you can make just as much money betting than you do bookmaking. And that since they can do this, why even bother opening up offshore and going through the hassles, when all they have to do is just double or even triple their betting volume to make up for the lost booking.

Fishhead · Nov 12, 2003

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Originally posted by sick gambler:
Yes SLIM, that is exactly what I am saying. I am not saying every bettor would be more successful, of course not. What I am saying is that if you are a successful bookmaker who totally understands the betting aspect and are very sharp, then you can make just as much money betting than you do bookmaking. And that since they can do this, why even bother opening up offshore and going through the hassles, when all they have to do is just double or even triple their betting volume to make up for the lost booking.<HR></BLOCKQUOTE>

110% CORRECT!

wilheim · Nov 12, 2003

You of all people should know better.

Sick, I quess the last 75 years of American bookmakers are morons. Not to mention the legal books in Vegas. If you don't get it by now, you probably will never get it.

Go Sabres, wil.