If being a bookie was 100% legal, would you do it?

Search

Rx Wizard
Joined
Oct 25, 2005
Messages
11,731
Tokens
Knowing you would have to chase the guys for the money? I always tell the guy I bet with (my buddy not my bookie) that we have to get the same edge as the bookie by betting lines that give us an edge, so in essence we are the bookie.


Here is my problem with it. I have such a hard time taking money from people, even if it is a loan or something. This is probably why I have close to 5k owed to me (all loans) from 8 people or so. I can't ask for my own money. For some reason I feel guilty asking for it. I won a FFB league and the commisoner still hasn't called me for the $400 cash I won. I would really have a problem knowing a guy was trying to dodge me and I am sure that is the worst part of the job.

With all the little things we know as bettor and with reduced juice you could probably make a killing in today age being a bookie but I just don't have the heart to ask for money and that could be a BIG problem.
 

Member
Joined
Mar 21, 2006
Messages
4,847
Tokens
You MUST get your money. Sounds like the people that owe you know that you are timid when asking for money and thus are taking advantage of you.
 

LA Clippers Junkie
Joined
May 14, 2005
Messages
11,323
Tokens
If it were 100% legal, you could hire employees that were specialists at collections.
 

New member
Joined
Jul 26, 2006
Messages
4,221
Tokens
You would have to manage the right way. You have to make sure you have good customers. Set up a first rate organization. With that being said you could make a lot of money being a bookmaker. A LOT. If set up properly the chances of losing are minimal and only for short periods. IF done right you would be rich.
 

Rx Wizard
Joined
Oct 25, 2005
Messages
11,731
Tokens
Tom Brady#1 said:
You would have to manage the right way. You have to make sure you have good customers. Set up a first rate organization. With that being said you could make a lot of money being a bookmaker. A LOT. If set up properly the chances of losing are minimal and only for short periods. IF done right you would be rich.

I completley agree espically with someone with knowledge of the market and you could scalp and middle if you could read your customer base.

Like you said the key, like any business, is having good quality customers and the thing I have found is there is not many of those types gambling. Usually the gambling types are looking for the quick buck because they don't have it.
 

Banned
Joined
Sep 20, 2004
Messages
80,046
Tokens
Yes of course!

I had a couple guys stiff me over 10K, and unless you're the type of guy who pushes it, there's not much you can do.
 

Rx Wizard
Joined
Oct 25, 2005
Messages
11,731
Tokens
Journeyman said:
Yes of course!

I had a couple guys stiff me over 10K, and unless you're the type of guy who pushes it, there's not much you can do.

Once had a bookie tell me he losses 30% profit a year due to getting stiffed. Says he calls it shrinkage and moves on. What can you do do, you live and learn but damn it would hurt.
 

New member
Joined
Jul 26, 2006
Messages
4,221
Tokens
Iceman said:
I completley agree espically with someone with knowledge of the market and you could scalp and middle if you could read your customer base.

Like you said the key, like any business, is having good quality customers and the thing I have found is there is not many of those types gambling. Usually the gambling types are looking for the quick buck because they don't have it.

WEll that is the sterotype for sure. And there are a lot of those types all over the place. They did a demographicstudy and you would be surprised into how many successful, middle aged, family men bet on sports. The right clients are out there. My father was a book for 45 years. It is not as bad as you think but you have to be smart and handle it like the business that it is. Yes, you run into problems but that happens to everyone in any aspect for the most part.
 

New member
Joined
Sep 11, 2005
Messages
6,057
Tokens
If it were legal, you wouldn't make much doing it, unless you had a huge business.
 

Rx Wizard
Joined
Oct 25, 2005
Messages
11,731
Tokens
Tom Brady#1 said:
WEll that is the sterotype for sure. And there are a lot of those types all over the place. They did a demographicstudy and you would be surprised into how many successful, middle aged, family men bet on sports. The right clients are out there. My father was a book for 45 years. It is not as bad as you think but you have to be smart and handle it like the business that it is. Yes, you run into problems but that happens to everyone in any aspect for the most part.

and I am sure much like alot of businesses it takes time to make it VERY profitable.
 

Member
Joined
Oct 18, 2004
Messages
5,109
Tokens
That is why the offshores are making so much money because they are getting paid. So many locals get stiffed and there goes their profits.
 

LA Clippers Junkie
Joined
May 14, 2005
Messages
11,323
Tokens
mj 23 said:
That is why the offshores are making so much money because they are getting paid. So many locals get stiffed and there goes their profits.

Not true...they make money because of volume. The bonuses and reduced vig eat up much more of their profits than the getting stiffed would.
 

New member
Joined
Apr 4, 2005
Messages
4,615
Tokens
I wouldn't. I think there's more money to be made being selective, and not having to monitor every game in every sport.
 

Member
Joined
Oct 18, 2004
Messages
5,109
Tokens
Clip Joint said:
Not true...they make money because of volume. The bonuses and reduced vig eat up much more of their profits than the getting stiffed would.
You got me there makes sense!!
 

Rx God
Joined
Nov 1, 2002
Messages
39,226
Tokens
just give CRIS line, you get +110, buy other side -105 if you don't want it.
 

New member
Joined
Apr 4, 2005
Messages
4,615
Tokens
Doug said:
just give CRIS line, you get +110, buy other side -105 if you don't want it.

Agreed if automated. I was thinking more of a legit operation in the UK sense -- storefront, phone, internet, linesman etc..

If you could automatically take the CRIS line, display it on a computer screen and have people bet into it, fine.

But what happens if CRIS close one day? ;-)
 

Forum statistics

Threads
1,106,844
Messages
13,439,192
Members
99,339
Latest member
billcunninghamhomeloans
The RX is the sports betting industry's leading information portal for bonuses, picks, and sportsbook reviews. Find the best deals offered by a sportsbook in your state and browse our free picks section.FacebookTwitterInstagramContact Usforum@therx.com