Well, times have changed, and these days the stigma that used to be attached to gambling just isn't there. Almost every state and province has a casino or a lottery, and there are hundreds, if not thousands, of betting options available on the Internet. Read More......
:banger:
Journeyman said:
true, but there are other risks in that model
tough to generate volume (at least initially) unless you are seeding the market yourself (thus taking on risk)
Also your theoretical profit is lower
e.g. traditional book offers -110/-110
they hold $10 of every $220 at risk (4.55%)
BetBug takes 5% commission from the winner only
on $220 action (player risks $110 on an even money proposition against another player risking $110), they only hold $5.5 on that same $220 in action (2.5%)
so:
traditional (-110) hold - 4.55%
hold at -107 = 3.27%
hold at BetBug 5% commission = 2.5%
hold at -105 = 2.38%
yes there is a decrease in risk, but like any kind of investment, less risk = less reward
and still gotta cover overhead even when booking less handle at lower hold
Hi Guys,
Was out of town for a few days and was shown this thread this morning
In response to the points brought up:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com
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></o>
<o></o>
Liquidity: You can easily get down for $1,000 on sides and $500 on everything else. I know some of the people who make markets on BetBug and their hope is to continuously increase those numbers as they see volume increase. With more and more people joining the network I expect those numbers to at least double in the near future and continue to rise over time.<o></o>
Legality: BetBug is carefully architected to not violate the US Wire Act. It is not a Wire Act violation to place a bet with an individual and that is essentially what you are doing on BetBug. Our payment partner takes care of all the deposit and withdrawal requests and we never have any personal details of the people who play with us.<o></o>
Our Business Model: Is based on keeping overhead costs down and making money via low margins and high volume. Our goal is to one day become the ultimate discount brokerage for sports bettors.<o></o>
Safety: Our company also owns Gamebookers.com. Established in 1998 Gamebookers is one of the largest sportsbooks and casinos in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comffice:smarttags" /><st1lace>Europe</st1lace>. Our parent company and our payment partner are licensed in the <st1lace>Isle of Man</st1lace>, one of the strictest, regulated regions in the World for online gaming. BetBug has been live since July of 2004 and we plan to be around for a very long time.<o></o>
Thanks for the kind words Weekendalki. Hope things are going well for you.<o></o>
I’ve spoken to a few Rx guys and I enjoy interacting with people who play at BetBug. I’ve personally played at a lot of books over the years and I treat people the way I expect to be treated. I am always available via phone and email (jason@betbug.com) if there’s ever an issue or concern.
Thanks for the posts and good luck to all.
Jason
Was out of town for a few days and was shown this thread this morning
In response to the points brought up:<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com
fficeffice" /><o></o><o
></o>Liquidity: You can easily get down for $1,000 on sides and $500 on everything else. I know some of the people who make markets on BetBug and their hope is to continuously increase those numbers as they see volume increase. With more and more people joining the network I expect those numbers to at least double in the near future and continue to rise over time.<o
></o>Legality: BetBug is carefully architected to not violate the US Wire Act. It is not a Wire Act violation to place a bet with an individual and that is essentially what you are doing on BetBug. Our payment partner takes care of all the deposit and withdrawal requests and we never have any personal details of the people who play with us.<o
></o>Our Business Model: Is based on keeping overhead costs down and making money via low margins and high volume. Our goal is to one day become the ultimate discount brokerage for sports bettors.<o
></o>Safety: Our company also owns Gamebookers.com. Established in 1998 Gamebookers is one of the largest sportsbooks and casinos in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com
ffice:smarttags" /><st1lace>Europe</st1lace>. Our parent company and our payment partner are licensed in the <st1lace>Isle of Man</st1lace>, one of the strictest, regulated regions in the World for online gaming. BetBug has been live since July of 2004 and we plan to be around for a very long time.<o></o>Thanks for the kind words Weekendalki. Hope things are going well for you.<o
></o>I’ve spoken to a few Rx guys and I enjoy interacting with people who play at BetBug. I’ve personally played at a lot of books over the years and I treat people the way I expect to be treated. I am always available via phone and email (jason@betbug.com) if there’s ever an issue or concern.
Thanks for the posts and good luck to all.
Jason
