You have a backer for your sportsbook and not sure how much of a cut to pay him for being the bankroll? I think it is something you need to get settled on for sure before you take on clients and do payouts/in-takes
You have a backer for your sportsbook and not sure how much of a cut to pay him for being the bankroll? I think it is something you need to get settled on for sure before you take on clients and do payouts/in-takes
Thats exactly my question. I am bringing the clients, the software to run it off of and all. He is strictly to help me get going until I get a roll large enough to support myself without fear of somebody nailing a couple 5 team parlays. I just don't know. There may not be one other than just an agreement. I was just wondering if somebody had done this before. I have a hard time giving up 50% when I have all the stuff and technology to run my show but if it's status quo and the cost of starting then so be it. To give you something to go off. Let's say I start with 30 guys. What does my backup acct need to have in it to cover myself? $1k, $5k
For starters, you need more money as back up, even if you have a bank roller - 5k is stretching it. one tough week and you are out of the game even if you split the guy 50/50.
In this business, unexpected shit happens and you always need as much bank roll as possible.
Is he bankrolling all losses or you taking a percentage of risk with him? e.g. if a player win 100, you pay 50, your buddy pay 50?