Some people will tell you 200k is sufficient in Costa Rica, but I would avoid those guys with good reason. A couple guys I highly respect think the bar has been raised to at least 750k bankroll, with 500k for marketing and 300k for operating float. That would let the operator sleep at night and give him time to get the ball rolling in a positive way. With so many people leery of new operations his first year will be tough and he can't expect much of a profit, but it will pay off in the long run as long as he gets quality employees and treats them well.
couple of hundreds is enough...
what most off the bookies down here did,,
they use to be at the beggining, just plain agents,,, then the next step, was to share infraestructure, voip/callcenter/internet, etc... then once they got a decent customer base, they moved by their own,,,
that's from nowadays middle to normal size books...
MIDDLE = 100 employees at least.
NORMAL = 200+ employees.
from 95% of all the books you mention over here, is funny when i personally visit them and find out they are only 3ppl, owner, linemover, and another clerk.. taking shrink action!... lol...
and now you guys asking for millions to start with...
what most off the bookies down here did,,
they use to be at the beggining, just plain agents,,, then the next step, was to share infraestructure, voip/callcenter/internet, etc... then once they got a decent customer base, they moved by their own,,,
that's from nowadays middle to normal size books...
MIDDLE = 100 employees at least.
NORMAL = 200+ employees.
from 95% of all the books you mention over here, is funny when i personally visit them and find out they are only 3ppl, owner, linemover, and another clerk.. taking shrink action!... lol...
and now you guys asking for millions to start with...
The 1 million plus is waaaaaaaaaaay too high to START a book, It looks like you go hiring a line mover and paying them 100k to start, and jump into a high lease and crap like that.
what you need is a decent software. with a payment plan, ticket etc,
2. piggy back with someone else for $$ processing, give them a percentage to process for you In and out,
3 piggy back with someone else for office space or operate from an aprtment paying 400-500 per month, you have an entire apartment with at least 3 bedrooms, so thats your office and customer support and servers and still room left.
get a least 4-5 computers rent lease or buy them,
pay your lines person a good salary, I say at least 500 per week to start and depend on the individual you offer a piece of the action on a per term basis (3 months), have an assistant for them to relieve them, (days and time off)
and this so far is not even close to 100K,
get donbest, internet, good bank and another bank a back up generator, security, dont spend any profit foolishly reinvest in the biz and treat your employees, creditors, pay you elec, water, telephone, cable satellite bills properly, keep a reserve to pay these bills for at least 3 months, and with in a year to 2 years you'll have your entire investment, plus at least 200-300 percent profit.
what you need is a decent software. with a payment plan, ticket etc,
2. piggy back with someone else for $$ processing, give them a percentage to process for you In and out,
3 piggy back with someone else for office space or operate from an aprtment paying 400-500 per month, you have an entire apartment with at least 3 bedrooms, so thats your office and customer support and servers and still room left.
get a least 4-5 computers rent lease or buy them,
pay your lines person a good salary, I say at least 500 per week to start and depend on the individual you offer a piece of the action on a per term basis (3 months), have an assistant for them to relieve them, (days and time off)
and this so far is not even close to 100K,
get donbest, internet, good bank and another bank a back up generator, security, dont spend any profit foolishly reinvest in the biz and treat your employees, creditors, pay you elec, water, telephone, cable satellite bills properly, keep a reserve to pay these bills for at least 3 months, and with in a year to 2 years you'll have your entire investment, plus at least 200-300 percent profit.
Message to Jabow:
Hey you probably are a nice person but info like yours only encourages scamsters and other underfunded people to try their "luck" at making money in the offshore sportsbook business.
There is so much mis-information in your post that I wouldn't know where to start.
Rent- Apartment???? $400-500 month????
Computers? 4 or 5 ? Lease? hahaha
Linesman? only 1? $500 week? hahaha
No servers, firewalls,phones???
Decent software? alone $4k per month
Like I said- too much mis-information to reply to here......
Believe me- bring $$$$$$$$$$$$$$$$$$
Hey you probably are a nice person but info like yours only encourages scamsters and other underfunded people to try their "luck" at making money in the offshore sportsbook business.
There is so much mis-information in your post that I wouldn't know where to start.
Rent- Apartment???? $400-500 month????
Computers? 4 or 5 ? Lease? hahaha
Linesman? only 1? $500 week? hahaha
No servers, firewalls,phones???
Decent software? alone $4k per month
Like I said- too much mis-information to reply to here......
Believe me- bring $$$$$$$$$$$$$$$$$$
Wildbill, Jabow and believe it or not Newbiee666
have made some vaid points -
Wildbill said things about quality of employees
- its massive.
Jabow - He's focused in on costs here - nothing wrong with what he has said, period.
Newbie666 - "from 95% of all the books you mention over here, is funny when i personally visit them and find out they are only 3ppl, owner, linemover, and another clerk.. taking shrink action!... lol... "
He's not far away on what he said there.
have made some vaid points -
Wildbill said things about quality of employees
- its massive.
Jabow - He's focused in on costs here - nothing wrong with what he has said, period.
Newbie666 - "from 95% of all the books you mention over here, is funny when i personally visit them and find out they are only 3ppl, owner, linemover, and another clerk.. taking shrink action!... lol... "
He's not far away on what he said there.
Who would play at a 3-man internet book ? Getting people to post-up with a new book would seem tough. I believe people are tending to go with the old favorites, like Oly, 5D, Pinn, Grande, etc.
The new ones have to advertise, so any potential customer knows they exist, pay a bonus to entice customers, cover fees of transfers, pay employees and overhead, and achieve longevity. At -110, why not just go to an established shop ? I just can't see doing all necessary on a half-mill. Reduced vig complicates it, furthur.
The new ones have to advertise, so any potential customer knows they exist, pay a bonus to entice customers, cover fees of transfers, pay employees and overhead, and achieve longevity. At -110, why not just go to an established shop ? I just can't see doing all necessary on a half-mill. Reduced vig complicates it, furthur.
"even with the proper capital, a book catering to a u.s. market would be hardpressed to succeed"
Please elaborate because I disagree. The ONLY reason, IMO, 99% of the books that fail is due to their lack of capital. None of these guys open on the pretense of robbing, they just go broke.
They usually learn REAL FAST how to book, limit or boot wiseguys that play with them but they think they are going to win, win, win, and run out of money. If a book has a few million to put into an advertising, book mainly recreational bettors and squares, open a little later than CRIS, OLY, and PINNACLE and keep up with their business they shouldn't fail.
Its the guys that go offshoore with a few hundred thousand, spend 100k opening and setting up, spend 50 to 100k advertising, thinking that once they are open think they will win all the post up money that normally goes broke.
Please elaborate because I disagree. The ONLY reason, IMO, 99% of the books that fail is due to their lack of capital. None of these guys open on the pretense of robbing, they just go broke.
They usually learn REAL FAST how to book, limit or boot wiseguys that play with them but they think they are going to win, win, win, and run out of money. If a book has a few million to put into an advertising, book mainly recreational bettors and squares, open a little later than CRIS, OLY, and PINNACLE and keep up with their business they shouldn't fail.
Its the guys that go offshoore with a few hundred thousand, spend 100k opening and setting up, spend 50 to 100k advertising, thinking that once they are open think they will win all the post up money that normally goes broke.
