Interesting topic. Do Books hold our money in a interest bearing account?

bigbet1234 · Apr 13, 2006

Reading a thread by PROSIDE and WB, interest topic. Do you think some of the larger books have interest accounts? Would make plenty of sense.

BB

Fishhead · Apr 13, 2006

bigbet1234 said:
Reading a thread by PROSIDE and WB, interest topic. Do you think some of the larger books have interest accounts? Would make plenty of sense.

BB

It certainly would!!

For those that do, it would make offering RAKE FREE poker very attractive for those that offer it wouldnt it?

:money8: :money8:

Baker · Apr 13, 2006

I am sure they make money on the float.

For those that don't know this is how Warren Buffet started his empire. He had a reinsurance company with a net worth of ~$1,000,000. They took in premiums of about 100 million a year and put them in interest bearing accounts paying 4-5%. Even if they paid out 100% of the premiums they took in on claims they still showed a gross profit of 40-50% of the company's net worth.

D2bets · Apr 13, 2006

Not that they're holding "our" money, but if they have "excess" cash, why in the world would they not have it invested in some useful way. Of course they would. So long as a sufficient amount is liquid. The books that don't have this are probably the ones that are only just getting by.

blueedwards · Apr 13, 2006

i heard betpanam put it all in gm stock

Insiders · Apr 13, 2006

IMO they have some sort of "float" that they are ALL useing. This would be only goof business sense, and i sure they have that.

j-saul · Apr 13, 2006

Bookmaking is one thing. But acting as a bank is another. Besides the fact it's not in thier best interest to give interest, it's liscensing issue.

Jagwarr · Apr 13, 2006

Didn't Carib sports or the owners have money hidden in shoe boxes and the such scattered though several wharehouses in the USA.

They are a smaller shop but that is where they were holding/hiding some cash.

ElJefe · Apr 13, 2006

They would be stupid not to.

PatrickMcIrish · Apr 13, 2006

Of course they invest it, it's invested in houses and lots throughout the area.

Fullhouses and lots of pus sy. :missingte

AlwaysKeen · Apr 13, 2006

you would think the good books would hold it in some type of interest-bearing account...I wouldn't want them to use the money on any capital expenditures or anything though, as you never know when a big player will come requesting a payout...

Insiders · Apr 13, 2006

Patrick McIrish said:
Of course they invest it, it's invested in houses and lots throughout the area.

Fullhouses and lots of pus sy. :missingte

uppy:

Interesting topic. Do Books hold our money in a interest bearing account?

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