If it has a tax id it must be a legal entity of some sort with an official scope of activities that cannot include bookmaking, unless it is in Nevada of course.
I'd imagine it varies greatly on a case by case basis depending on the size of the operation, the volume of business, the effects on the community, the personalities of the prosecutors etc.
Just a rational thinker's opinion here, but I guess you'd be more interested in hearing about some actual cases...
I'd imagine it varies greatly on a case by case basis depending on the size of the operation, the volume of business, the effects on the community, the personalities of the prosecutors etc.
Just a rational thinker's opinion here, but I guess you'd be more interested in hearing about some actual cases...
This may seem like an odds question, but why isnt everyone in here a local book? Considering that there is little penalty, and a ton of money to be made? What is the reason that you guys dont do both, book and bet? Seems like it would be a huge moneymaker, ecspecially when you can lay off action at -5 points or less online, kind of merger of new and old school?
The penalties vary greatly. It all depends on whether the local prosecutors have a hard on for the individual who is charged. If it is a first time offender, and the case is weak, in most cases, the offender could plea to nominal jail time or just probation. If the first time offender was an "in your face" bookmaker who was very high profile, the ramifications could be more dire. If they find huge amounts of cash, etc., he could be looking at a $$ laundering issue and a possible IRS problem.
I would NEVER book....trouble not worth it at all. What I actually wonder about is the key words in the law reading..."in the business of". Has that ever been defined as to a legal defination ? (I'm using common sense....a dangerous thing of course and say it probably has a defination of Dollar amount...but that theory has holes as well...so I have no idea.)
It varies greatly.....you could get by with as little as a single "promoting gambling" charge (or similar wording-this tends to vary by state), but if they are pissed, you could get hit with money laundering, conspiracy, and a few other "blanket" charges that really put the hurt to you.
A lot of risk for the reward, but the risk can be greatly reduced if you go the offshore route & get set up on a "per head" program. You can create a nice hands off operation, and it beats the hell out of it being YOUR phone line that's taking all the plays.
A lot of risk for the reward, but the risk can be greatly reduced if you go the offshore route & get set up on a "per head" program. You can create a nice hands off operation, and it beats the hell out of it being YOUR phone line that's taking all the plays.
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Booking and betting are two completely different activities. To do both you'd either need to be schizophrenic or just do betting on the hobby level with booking being your main focus.
Betting is 90% inspiration and 10% perspiration while bookmaking is the other way around IMO. Guys like me who don't like to perspire too much don't find booking terribly attractive.
Betting is 90% inspiration and 10% perspiration while bookmaking is the other way around IMO. Guys like me who don't like to perspire too much don't find booking terribly attractive.
Darryl Parsons said:
Then there is the dirty business of "collections" nasty stuff that almost always gets your book noticed by the authorities. You pretty much have to hire some big dumb guys, get wound up in payroll and crap!!!!!
this shit doesnt work unless you have close proximity to your clients and they pay upfront..(like a college campus or at your office or something)
There other time intensive ways one could possibly run this but you have to be such a dynamo of a self starter and know enough "well to do" folks that wont burn you or end up getting caught for a B&E hence squealin on you to get off the charge.
golfing........email me at dimeplayersonly@aol.com
