Bookies or anyone with insight or an opinion..

TKE683 · Jul 12, 2006

My friend who is a bookie has found a bunch of new guys who want to wager with him, this is going to bump him from 5k to 10k per week in action. He asked me if I wanted to go in with him, he made about 40k in football, was doing well in bases but got beat up in hoops and world cup so he doesnt want to have to cover it all himself.
Seems good to me, very good friend, trustworthy, so thats not an issue, just wondering if this is to big of a risk, a few bad weeks could do me in, but i have seen his books and he rarely loses money any week.
Thanks in advance.

bigbac9 · Jul 13, 2006

If it was me, I would jump on it in a heart beat. The house NEVER loses in the long run. The reason is they don't need to make picks and collect the vig. I want to be a bookie but don't have any clients.

TKE683 · Jul 13, 2006

Thanks for the feedback bigbac, just needed a nudge, and most of his guys play all faves, big faves, always laying -180 to -250 and this guy usually bumps it up by 10 and they don't flinch betting it.

bigbac9 · Jul 13, 2006

With high juice like that, you will be in the $$$ sooner than later. The public usually loves the favs. BOL! I'm wish I had a close friend that wanted to share.

uppy:

ACE-ACE · Jul 13, 2006

how big is your bankroll...I had 50 players when i started and for 3 weeks in a roll....each of them won $500 a week or $25K a week pay out for 3 weeks in a roll!!!!but that year i still made money....it takes money to stay in the game...

ACE-ACE

TKE683 · Jul 13, 2006

Thats what worries me. We have been talking about doing a 75/25 split, i have about 10k readily avaliable, and don't want to have to sell stock to pay off some guy and he has 40k but i would hate to get killed right off the bat. It's risky other than the first round of the NBA and world cup soccer i have never seen him have a bad week, it seems too easy, but we all know nothing is and obviously he has worries if he is looking for a partner.
He makes them play his lines though, today he is giving the Twins at -250 and people are still jumping on it.

Knockin-Um-Dead · Jul 13, 2006

You will find in most sports, including football, you will pay out earlier in the season and as you get deeper in the season, you start collecting.

It worked like that for me 6 straight years, so your pockets have to be deep in the begining. Also you have to collect. Don't know what your friends write-offs are, but it's something to consider. It was all cash when I was involved, no credit cards.

There is big money to be made if you have staying power. My best year was over 6 figures and only two busts in the 6 years.

docslep · Jul 13, 2006

must be like the insurance business. you need deep pockets in the beginning. the only problem is that it's illegal, so if the clients stiff you, what leverage do you have?you can't sue them, so you need to deal with unsavory elements.

TKE683 · Jul 13, 2006

thanks for all the help guys, great insight from all, i'm leaning towards giving it a shot.

rfb · Jul 13, 2006

as far as your friend goes, i would be very leery of taking on a bunch of new guys....what's the sense of winning if you can't collect your money....these new guys are old guys somewhere else.....

docslep · Jul 13, 2006

what do you do when clients won't pay?

rfb · Jul 13, 2006

in the old days....books made their hay during football and many packed it in during the baseball season when it was time for the players to shine....that has changed over time...many books i talk to now make it during baseball and tend to lose during football....they attribute that to the internet and more knowledgable players.....many people still lose during football, but the wise guys and larger players tend to do better than they used to

rfb · Jul 13, 2006

if these new guys played with a book that closed during the baseball season maybe they are ok......

whalewager · Jul 13, 2006

Bankroll is key. You can have a bad month in football and get wiped out.

EX: Nov in football historically.

Get a good line service like donbest and make sure you move the line with your action. You can juice the shit outta alot of players.

Key to making it in that business is cross action. Your friend seems to know that.

You have to protect yourself no matter how good a friend he is.

Make sure you keep track of all the action that is going on.

Bookmaking is long stressful hours. It isnt all glamour. It takles alot more intelligence than one might think.

I would take his offer but go into it with wide open eyes.

whalewager · Jul 13, 2006

btw. 5 to 10 k a week in action is not ALOT of action.

There is no way you should get hurt with that minimal action if the guy knows what he is doing. You make your money off juice and off your parlay and teaser players.

Good luck this year. Hope you do well.

Mosi · Jul 13, 2006

I would jump on it. Love being the book. Just sit back and watch. Especially this baseball season, it has pretty much been tough on all of the players.

With that being said people can get hot over a several week/month period. I got crushed in the summer of 97 (think it was 97) when the Tribe and Braves would not lose. Did not help being in Ohio at the time.

No matter what, if you stick with it you will do okay. Make sure the arrangement with your buddy continues into football and down the road.

heelman · Jul 13, 2006

I would take him up on the offer!! The only downside is you must know your players very well and be prepared to work HARD as money does not fall out of the sky. You must have knowledge of the players tendacies and their patterns and always keep yourself on the rightside of the line. It is hard work and 1/2 pts will kill you so sometimes and most times it will be up to you to make money for the book!! You also and very importantly must know when someone is playing on monoply money and you have to stop it fast!! Example You are losing 15 DIMES but one player is down 12 dimes, does not seem bad but only if he pays the 12 dimes!! Having the money and paying the money is two different deals!! Great deal to book but be prepared to work and I mean WORK HARD!!!!!!

whalewager · Jul 13, 2006

kidslick · Jul 13, 2006

TKE683 said:
My friend who is a bookie has found a bunch of new guys who want to wager with him, this is going to bump him from 5k to 10k per week in action. He asked me if I wanted to go in with him, he made about 40k in football, was doing well in bases but got beat up in hoops and world cup so he doesnt want to have to cover it all himself.
Seems good to me, very good friend, trustworthy, so thats not an issue, just wondering if this is to big of a risk, a few bad weeks could do me in, but i have seen his books and he rarely loses money any week.
Thanks in advance.

tke683---you should ask one of the moderators to post this thread

in the

Costa Rica Bookie Chit Chat

thats where all of the bookies hang out and chat-- there are many ways you can do this--you can also have all of the action handled by a professional sportsbook, for a fee ( i believe per customer)

JohnnyB · Jul 13, 2006

In the beginning if you're worried about losing, why not just lay some of it off?

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