What kind of start-up do offshore sportsbooks have?

BillyWaltersJr+ · Jan 23, 2008

I was talking to a friend about this today, and he was saying $1 million dollars for a smaller book and at least 25x that for the larger books. What do you think the actual figures are? I kind of think it would be less for the smaller books, like $500,000 or maybe a bit more and $12-15 million for a larger book. If you think about it that would be more than enough if you were just starting out because you wouldn't have many bettors betting at your book until you had proven yourself.

By the way, I am talking about bankroll money, not what you will be paying for rent, computers, servers, employees, etc.

whalewager · Jan 23, 2008

hey intrinzik...u could call your book SYSTEM BOOK

I could go to CR and start a book for 100 dimes...np

whalewager · Jan 23, 2008

you wouldnt have many bettors betting at your book because of the payment solution problems...not because u had to prove yourself

look at all the crooks who have gotten rich

u pay fast and easy and u will get all the cust u want

Betallsports · Jan 23, 2008

Intrinzik said:
I was talking to a friend about this today, and he was saying $1 million dollars for a smaller book and at least 25x that for the larger books. What do you think the actual figures are? I kind of think it would be less for the smaller books, like $500,000 or maybe a bit more and $12-15 million for a larger book. If you think about it that would be more than enough if you were just starting out because you wouldn't have many bettors betting at your book until you had proven yourself.

By the way, I am talking about bankroll money, not what you will be paying for rent, computers, servers, employees, etc.

You are Way off here.........Over-Priced !! whalewager is closer....and it Also depends if you are going to be a Post-Up or Credit Shop
Or Both.........

BillyWaltersJr+ · Jan 23, 2008

whalewager said:
hey intrinzik...u could call your book SYSTEM BOOK

I could go to CR and start a book for 100 dimes...np

Why would I call it that? Besides, I never even said I was going to start a book, just curious about the financials of offshore books. :103631605

BillyWaltersJr+ · Jan 23, 2008

Betallsports said:
You are Way off here.........Over-Priced !! whalewager is closer....and it Also depends if you are going to be a Post-Up or Credit Shop
Or Both.........

I would think post-up, since you might have problems getting paid doing a credit book, although I don't know a ton about them because I have never had a need for them. Being both would probably attract more customers, though.

whalewager · Jan 23, 2008

have to have a credit side to be successful if u were starting now i would think...if you have enough post up business to offset the stiffs u will encounter...one or 2 high volume squares could keep u going for a long time

whalewager · Jan 23, 2008

credit side with agents in the states would be vital for a book that wasnt established and opening up looking to make big money

maybe im wrong but usually im right

BillyWaltersJr+ · Jan 23, 2008

So you guys really think something around 200k would be a good bankroll to start with an offshore book? Wow, definitely less than what I was thinking...

What about start-up costs for the likes of software, computers, employees, rent...I am thinking only $5,000/month or so for everything since I heard you can lease the software, etc.

Is this true and around the lines of the correct amount?

BillyWaltersJr+ · Jan 23, 2008

whalewager said:
credit side with agents in the states would be vital for a book that wasnt established and opening up looking to make big money

maybe im wrong but usually im right

Wouldn't employing the use of agents make things more risky in terms of law, etc or does that never come back to haunt books?

whalewager · Jan 23, 2008

banners at the major forums with promotions would probably cost u a good chunk

need to be able to attract the big players like chaka khan and Dan Rather

whalewager · Jan 23, 2008

Intrinzik said:
So you guys really think something around 200k would be a good bankroll to start with an offshore book? Wow, definitely less than what I was thinking...

What about start-up costs for the likes of software, computers, employees, rent...I am thinking only $5,000/month or so for everything since I heard you can lease the software, etc.

Is this true and around the lines of the correct amount?

I think u are right on...you are way smarter than what you come off as posting

whalewager · Jan 23, 2008

gotta attract a few huge players and have the balls to book that action ...throw them fn tickets in the barrel and forget about em til the next day son

go out and party with the ticas or whatever the f they call em

BillyWaltersJr+ · Jan 23, 2008

Thanks for the advice/input WW.

Anyone want to give me a primer on using agents and credit books? I know the basic logistics of it, but there is more to it in my opinion.

Such as, how many agents does an average credit book employ, and how many clients do these agents usually have?

Doug · Jan 23, 2008

Don't these books with 300k go broke ?

Panam
No Juice

etc.

whalewager · Jan 23, 2008

intrinzik=fed

BillyWaltersJr+ · Jan 23, 2008

whalewager said:
intrinzik=fed

Good one!

Just asking for what I am sure is common knowledge for some, right.

BillyWaltersJr+ · Jan 23, 2008

Doug said:
Don't these books with 300k go broke ?

Panam
No Juice

etc.

Maybe they don't employ the services of agents or offer credit, just post-up?

Just a guess.

TheWolf · Jan 23, 2008

Job.

A Jobby Job.

Betallsports · Jan 24, 2008

Intrinzik said:
Thanks for the advice/input WW.

Anyone want to give me a primer on using agents and credit books? I know the basic logistics of it, but there is more to it in my opinion.

Such as, how many agents does an average credit book employ, and how many clients do these agents usually have?

OK, Without giving Too Much detail....................If there is Anything that shouldn't be said in my Post....Please Delete it !!

Let's say you are in New York....Meaning You Yourself......so this means that You know people in NY and people that you can Trust..

You could have anywhere from 5-10 Guys ( just picking a # )
Out of those Guys....5 of those guys...say they have 10 players = Small Sheet....Now you have the Other 5 Guys and they each have 25 players
= Med. size Sheet
Best Bet would if you can get someone with 50 Players ! :103631605

But That's Another Story...for Another Time....lol

anyway, let's say the guys with 10 players...You need to give him a % of that Sheet....WITH a Red and Black ( i'm sure you understand this )
% could be ( depends on what kind of player $$$$ ) 25%

The Guys with 20-25 player you give more...BUT Again it depends on what kind of Players we are talking about ...$$$$wise

These Agents should be accountable for any Stiffs....You Must have an Understanding with them....

But You Will ALWAY get Stiffs......You Must take the Good with the Bad.