Question about helping your friends get some bets in

shdw01 · Oct 10, 2012

I have a few friends that I put in bets for with my local. I get 10% back on losses but I just give it back to them because I don't want to make money off of my friends losing.

The question is should I expect something from them when they win? I don't care really and I don't ask for anything but I do set them up with the book and I am the contact/money exchanger (more cause I'm already doing this for myself) but I am donig a lot of work for nothing. If they offer me something i usually decline...maybe i'll let them buy me lunch with their winnings....whats proper for helping my friends?

CowboyT · Oct 10, 2012

For helping friends lose their money? I'd charge them 90% then kick them in the nuts and videotape it, put it on youtube, and laugh your way to 15 minutes.

Doug · Oct 10, 2012

might as well just book it yourself...

vinscully · Oct 10, 2012

Remember the ones that don't offer a 'tip' when they win and that's the one's that don't get the 10% back.

shdw01 · Oct 10, 2012

CowboyT said:
For helping friends lose their money? I'd charge them 90% then kick them in the nuts and videotape it, put it on youtube, and laugh your way to 15 minutes.

hahaha....that would be funny...i'll wait til two of them lose and have them kick each other in the nuts for their 10%

Doug said:
might as well just book it yourself...

They don't always lose....i'm sure like me, they lose in the end.....i don't think i can do the book side of things....i need action all the time....wtf am i supposed to do when bets come in equally on both sides (ideal for books right?).....I have no one to cheer for

vinscully said:
Remember the ones that don't offer a 'tip' when they win and that's the one's that don't get the 10% back.

That is a good point....but they already kind of know....i don't know if i can lie to them...."oh, he isnt' giving the 10% back anymore".....not to mention the underlying fact I wouldn't feel right profiting off of my friend's losses. The book side i don't care as much....if he loses $1,000 to my friend, he might've also won $30,000 from other people...i don't know this kind of stuff so no guilt on that side.

Doug · Oct 10, 2012

If it's small bets just book it yourself, you are getting cash up front right ?

If action is equal you get vig, if not you have a side and can lay off anything too big for you.

shdw01 · Oct 10, 2012

Doug said:
If it's small bets just book it yourself, you are getting cash up front right ?

If action is equal you get vig, if not you have a side and can lay off anything too big for you.

no cash up front......100% credit....i don't think my friends would ever stiff but that is another issue....i think my guy trusts me enough where if i said someone isn't paying he won't come after me (whatever that might mean/be0

Doug · Oct 10, 2012

I'd make these friends pay up first since you are essentially acting as a no vig book for them since you make nothing.....or just introduce them to the local so you are out of it.

vinscully · Oct 10, 2012

Doug said:
I'd make these friends pay up first since you are essentially acting as a no vig book for them since you make nothing.....or just introduce them to the local so you are out of it.

Solid advice. I'm sure you do it because you're a good guy but I do wonder why the fukk you would expose yourself to even the possibility of being duped. With respect. Introduce them to the local, tell him you think they're ok and get out would be my advice.

shdw01 · Oct 10, 2012

I don't think they will get the 10% if they go direct....i don't get 10% off my own losses....

which makes me think i should make another "friend"....and just put all my action through that account

CoolBreeze22 · Oct 11, 2012

shdw01 said:
I don't think they will get the 10% if they go direct....i don't get 10% off my own losses....

which makes me think i should make another "friend"....and just put all my action through that account

I would imagine your bookie would catch onto that pretty quickly, probably a bad idea to do that. If you do this long enough eventually one of your "friends" is going to stiff you. That FACT, makes it not worth the trouble. I might let a friend make one or two bets a year but that is it. I usually just tell them that I would feel bad if they lost but that I can introduce them to my bookie if they really want the action that bad, but that unfortunately all his new players must post up with him for the first year(no credit), or just tell them if they want to play that bad to find an online book. That's how I usually handle it. Just not worth the trouble IMHO.

shdw01 · Oct 11, 2012

Yeah good points....IM not serious about the pseudo friend. I'm not the kind of guy to f over my guy but it just seems there is a loophole.

My whole life I have never posted up for the credit guys...only online books....same with my friends but I understand it is not worth the risk....something to think about

TyBounce · Oct 11, 2012

If you've already got them set up with the book where they're placing their bets themselves , you ought to just let settling up be between them and the book.

If they're already placing their own bets , no since you being the middle man.

shdw01 · Oct 11, 2012

I think this thread has gone way off tangent.

fwiw, I get a "referral fee". I give back the 10% cause they are my good friends. I mainly just play myself but there are a few close friends (like best man at my wedding type friends) that play. I have set them up an account....and I just collect both ways as the middle man. I know how shitty it is to lose your ass so I don't mind hooking them up the 10% in those cases. I guess it is worth communicating with both to see if I can hand them off and still get the "referral fee" which I can just give back to my buddies. That would take away my risk but still hook them up with the 10%. I wouldn't even expect anything since I have no work involved.

The question was should i expect something from my buddies when they win? The only reason I ask is cause someone won a decent chunk (to a small bettor like me) and I wanted to know if i should accept and how much if he does offer something.

been_there · Oct 11, 2012

You are in a great position, why not take advantage of that.Right now, the way it is, you are in a lose/lose scenario.

Long time ago, an old BM friend of mine used to lend to his friends. He stopped lending and started to SHY a little. Always to his "friends", he bailed them out, at 6/5. When he lent $2,000 to friends, never saw them again, when he shied, expecting 2400, paid in full.

Amazingly, everybody who borrowed the money from him directly = stiff.
Those who borrowed from the "beard" shy, paid.

So he lent when he had to, not for profit, just to get back the original loan.

And his justification was, whatever juice they paid that year, he bought them new TV's,whatever.

I don't know if u have 3 friends or 10 friends, but u certainly should have a sheet, or build a sheet.

U probably u put them in a decent shop and book them, until you r comfortable with the possible loss/ streaks/ downside,
WTF, get .25 % back from your B M and give them 10%.

There's a lot of legitimize spots that would give u a 25% sheet, maybe more,
If good more, I would, but I' m retired.

And to your last post, don't expect the friends to tip u, earn off them from their losses, as most will.

Doug · Oct 11, 2012

I'd book in a heartbeat, if I knew people that wanted to bet, and I could get the money in advance ( like a Vegas book). I'd just tell them that "my guy" doesn't deal directly with small-timers and give credit to guys like them....kind of like a pot dealer that only sells lbs and larger.

It would eliminate the collection process, and you'd pay like clockwork of course. Now if you only had Matchbook to lay off anything too big and at a great price.

It might even work in Hawaii, I've heard locals charge ( or used to) -120 each way, if that's true -110 cash up front would be a great deal.

I know that if I booked, I'd get Fucked over by people stiffing me.

BAGIANT · Oct 11, 2012

Doug said:
might as well just book it yourself...

Might as well pick up some extra money as long as you can absorb their losses.

shdw01 · Oct 11, 2012

I know what the answers will be but booking sounds too much for me...I don't think I can root for my friends to lose money....most of us has been at that spot where we lost way more than we should've and are stressing about life because of it. If hate to be the beneficial pay to that demise for my friends

Doug · Oct 11, 2012

BAGIANT said:
Might as well pick up some extra money as long as you can absorb their losses.

how do you lose , as long as the cash is up front ? Just give current Bookmaker lines and lay-off anything too heavy , or when you don't like the side you're getting +110 on. You wouldn't need much money to start, don't book stuff you can't pay, you could probably just book straight NFL sides and totals with a $200 limit or something to start, very hard to lose a starting bank of 10k that way. Cash upfront is the key, like on parlay cards.

Doug · Oct 11, 2012

shdw01 said:
I know what the answers will be but booking sounds too much for me...I don't think I can root for my friends to lose money....most of us has been at that spot where we lost way more than we should've and are stressing about life because of it. If hate to be the beneficial pay to that demise for my friends

I guess they can't go blow it at the track, casino or on the lottery if they can't find a local since it is Hawaii.

These guys should still be able to find online books, but would prefer to trust the local pineapple. It's not your job to protect them from gambling, falling coconuts and tsunamis.