Has anyone went partners with another bettor on gambling everyday?

Iceman · Sep 8, 2006

Have a buddy who keeps trying to give me 5-10k or so and thinks I can carry him to riches but his gambling/sports knowledge is about 1/10 of mine. So I would be the one doing all the work. I have warned him dozens and dozens of times of the risk involved in this but he still keeps asking.

I think he is only interested in it for the extra $$. Really like the guy and maybe the extra money in the whole bankroll would help. Moneywise we have a pretty cool realitionship as he is not cheap at all.

I know the all the negatives, just wondering if anyone has done this and it has worked? If so, anyone have any advice on this? He has even talked about me getting the majority of the profits (if there is some) because I would be the one pulling th trigger.

Most important fact is that this would be almost pure scalping, some bonus hunting and maybe some middling so the risk factor would not nearly be the same as if we were pure gambling (which I wouldn't do with a partner).

MoneyManager · Sep 8, 2006

That little insightful voice inside your head that caused you to attempt to warn him off "because of the risk" was right. Do not do it --- if he is a friend you want in your life.

There are so many reasons I'd have to write --- to long a post to cover it.

*** To many pitfalls --- if your sending money off shore / or dealing with a local, no matter how you play things, can and will go wrong! (i.e. the BOS's of the world) Assuming you've played for a while, you've probably learned to live with the risk and the sometimes unfortunate results. This will eventually cause a strain on your friendship -- it's a LOCK!.

With all due respect, the only reward is the ego boost of being "the guy with the picks" but that comes and goes with the W/L cycles.

True friends are too scarce not to be protected -- sometimes from themselves in this game.

Tell him you value his friendship to much to get involved in that way. In the end it will be better for both of you and your friendship.

Good luck!
MM

Dssemulator · Sep 8, 2006

Friends and money NEVER work!...... It will until things go sour then the blaming/accusations begin....I personally would stay away. If you want to coach him and he throws you a bone for your services that is a better way of approaching it...
Just my 2 cents worth.... :103631605

Iceman · Sep 8, 2006

I hear you guys but the thing is I would be pretty much scalping out bonuses with his money and trying to hit a few middles. Not nearly the risk involved as pure gambling.

Fishhead · Sep 8, 2006

I have gone partners NUMEROUS times on video poker/slots with individuals............many that post right here at the RX in fact...........Billsfan, Hawkeye171, Kyhawk, Voodoo, Kermit, Mermaid, and Mr. Vision to name a few.

Also go partners with a few on various contests on the internet.

EveryGamblersDream · Sep 8, 2006

I do so as it helps in situations where you want to get down over posted limits on a game for starters.

Dssemulator · Sep 8, 2006

Fishhead said:
I have gone partners NUMEROUS times on video poker/slots with individuals............many that post right here at the RX in fact...........Billsfan, Hawkeye171, Kyhawk, Voodoo, Kermit, Mermaid, and Mr. Vision to name a few.

Also go partners with a few on various contests on the internet.

The BIG difference though is his friend is "green" and unaware of the problems that can and over a long period WILL happen....Like Money Manager said, you have a little voice in your head asking for advice for a reason....I think you already know the answer........ :103631605

HarryCaray · Sep 8, 2006

Last year I had a friend who wanted me to play whatever I called in for him too. I was using a local so we played on credit, and if I called in a $200 bet for myself, I just called it in for $400.

The first couple months we won a few thousand each, and were rolling right along. Then, to make a long story short, we got down about 8K (4K each) in the NFL playoffs and a bad run early in the NBA season. He decided to quit while he was down 4K. I won the entire 4K back by the end of the NBA season (my local is a friend of mine and we only settle up once every couple months so he let me roll), and I felt TERRIBLE that he owed 4K and I didn't because he chose the wrong time to jump ship.

He is STILL paying this guy off, owes him about 2K still, and I have to deal with the phone calls, setting up meeting times, payment plans, etc.

So again, long story short, DON'T DO IT!!!!!!!!!!!!!!

Iceman · Sep 8, 2006

I agree I am not running a tout service or trying to give the advice on who to bet, we would for sure lose our ass on that :lolBIG: . Plus I don't need the stress.

More or less it would be a 80% succesfull venture with all scalps and middles.

Totally appreciate the whole sharing the horror stories others have had in the past, as I have as well but I was wondering has anyone did something similar, with success, that I am talking about?

Anti-liberal · Sep 8, 2006

Tell your friend that gambling is not a team sport.

One reason it doesn't work is because one party always seem to benefit and get more out of it more than the other. Iceman, unless you need this guys money to work with, you will be reducing your volume and profit by sharing a piece of your action with your friend. If you give him 20% of the action, those $500 scalps become $400 scalps. The problem is that the sportsbook limits cap you out. You would be taking money directly from your pocket and putting it in his.

Iceman · Sep 8, 2006

Anti-liberal said:
Tell your friend that gambling is not a team sport.

One reason it doesn't work is because one party always seem to benefit and get more out of it more than the other. Iceman, unless you need this guys money to work with, you will be reducing your volume and profit by sharing a piece of your action with your friend. If you give him 20% of the action, those $500 scalps become $400 scalps. The problem is that the sportsbook limits cap you out. You would be taking money directly from your pocket and putting it in his.

very good point. Sad thing is it may be fun to be able to share in the emotion that this brings daily. Maybe I just need another dog

uppy:

Santo · Sep 8, 2006

Remember that in the offshore world currently, it might not be your mistake that loses him money, but it will end up being your fault.. I've had this question asked many times also, and have always said no.

Re: sharing the emotion.. offering to take your friend out for a meal when you have a great day helps.. though works better if it's a GF I suppose ;o)

Anti-liberal · Sep 8, 2006

Iceman said:
very good point. Sad thing is it may be fun to be able to share in the emotion that this brings daily. Maybe I just need another doguppy:

Now your thinking! LOL... If you're a winning gambler as you indicate, you have absolutely nothing to gain from partnering up with your friend, other than seeing his face light up when you had him money that you earned. If that will be the case, I'd like to submit my application to be your newest, good friend.

freshmeat · Sep 8, 2006

Can I borrow 10 grand?

zerocage · Sep 8, 2006

Just tell him some picks or something

D2bets · Sep 8, 2006

Unless you need the extra liquidity, what's the point? If you think you can make good money with his ten grand, then just pay him an attarctive interest rate (like 10% for the year) and do it that way. You're doing work that you'd be doing anyway, right? Doesn't make any sense.

Or just teach him how to do the work himself. Teach a man to fish....

Charge him $25/hour for Iceman lessons. :thumbsup2:

Iceman · Sep 8, 2006

zerocage said:
Just tell him some picks or something

it's not about my plays. maybe i will give him Ace-Ace's plays.

JohnnyB · Sep 8, 2006

D2bets said:
If you think you can make good money with his ten grand, then just pay him an attarctive interest rate (like 10% for the year) and do it that way.

I like this idea. :103631605

1cheater · Sep 8, 2006

Iceman said:
I hear you guys but the thing is I would be pretty much scalping out bonuses with his money and trying to hit a few middles. Not nearly the risk involved as pure gambling.

What makes you think that a book wouldn't ban you for "sharp play" then take your friends money? What happens if you get in with a book like BOS and get robbed, what do you tell your friend then?

ucking:

sean1 · Sep 8, 2006

Ice - there are three reasons I would not do it:

1. He offers nothing in terms of gambling knowledge. It would be much easier to take a loan from a bank than to take $10000 from him.

2. No matter what percentage you pay yourself for the work based on what his money earns, you'll either feel bad or he'll think you are taking too much...

3. Based upon the questions that you have asked (And they have all been good ones) I don't feel that you are at the stage to take investors. If you are gonna take investors, you should be an expert with many years of trackable returns.

The only reasons I would consider it would be if he:

Was someone who offers something of value - knows sports, can computer program, will input excel data, has models that have worked in the past, is willing to run around to banks and western unions all day (I've seen many relationships like this work)

Was someone who just wants some action and does not care about the money. If he just wants some bets out there and does not expect you to profit, then it can be fun to gamble with a budy.

Sean