If you have made a big deposit, and the book cuts your limits significantly, the book should probably eat most of the withdrawal fees. The reason is that the money was deposited with the expectation of a certain level of play (and the bets represented a percentage of the bankroll). So, if the book custs your limit by 50%, they should let you either take out half you money for no fee, or charge you half the fee to withdrawal all your money.
TTinCo, thanks.
Some books will take a winning/wiseguy player, and keep the limits high, but then take what the wiseguy bets and bet twice as much elsewhere. In this way, the book uses the wiseguy to detect the moves. They keep the wiseguy's limits high, so he will come to them first. However, when the book goes out and places a lot of money, they become competitors to the wiseguy. This makes it harder for the wiseguy to get down on a number at other places.
This works until the wiseguy figures out the book is using him or until the wiseguy hands the book bad plays, so the book will bet a fortune moving a number the wrong way so the wiseguy can play at the correct line.
So, if you are a wiseguy and a book lets you play with large limits, be suspicious that they are using you as a line service and cutting into your action elsewhere.
Some books will take a winning/wiseguy player, and keep the limits high, but then take what the wiseguy bets and bet twice as much elsewhere. In this way, the book uses the wiseguy to detect the moves. They keep the wiseguy's limits high, so he will come to them first. However, when the book goes out and places a lot of money, they become competitors to the wiseguy. This makes it harder for the wiseguy to get down on a number at other places.
This works until the wiseguy figures out the book is using him or until the wiseguy hands the book bad plays, so the book will bet a fortune moving a number the wrong way so the wiseguy can play at the correct line.
So, if you are a wiseguy and a book lets you play with large limits, be suspicious that they are using you as a line service and cutting into your action elsewhere.
lets face it sportsbooks are there to make money - not a charity organisation for the wise guy! cutting your limits cuts down their cost for getting smart information - good business sense to me. As a person who's had dozens of accounts closed and cut to silly levels i accept it but now i just bet with Betfair which being an exchange has no reason to limit your stakes.
I'm from the UK so the terminology is a little different to me. By wagerpool - i take it you mean like the bets that go into the pool at the racetrack, pari-mutuel or tote returns as we call them back in Europe.
These are very simple back in europe - money for say a horse race gets bet into this pool, the organisation that runs it takes their cut and then a dividend is declared depending on how many winning tickets there are. Pitfalls of this system are when the cut for the host is too high, the pool size is weak which means odds fluctuate too much and that too many so called sharpies wait to the last minute to snap any value that's available thus shortening the odds. I would use such a medium only at major horse race meetings where the pool is strong and at the last minute if i could identify value. certainly not my first choice! Pros for this system are that if you bet small and on outsiders you can get some nice dividends at times and these pools normally keep a fixed cut regardless of the number of runners in a race so a race with 25 runners would have a juice of say 15% where a sports book would more likely have 25%.
These are very simple back in europe - money for say a horse race gets bet into this pool, the organisation that runs it takes their cut and then a dividend is declared depending on how many winning tickets there are. Pitfalls of this system are when the cut for the host is too high, the pool size is weak which means odds fluctuate too much and that too many so called sharpies wait to the last minute to snap any value that's available thus shortening the odds. I would use such a medium only at major horse race meetings where the pool is strong and at the last minute if i could identify value. certainly not my first choice! Pros for this system are that if you bet small and on outsiders you can get some nice dividends at times and these pools normally keep a fixed cut regardless of the number of runners in a race so a race with 25 runners would have a juice of say 15% where a sports book would more likely have 25%.
doesn't a book try to balance each side evenly and just make the juice? if some wise guys bet at a book and the book gives them high limits they could get lopsided on the wrong side often. that would certainly be a reason to cut someones limits. i dont mind at all if others people's limits are cut, mine will never be because my big play is 500, average is 300.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>doesn't a book try to balance each side evenly and just make the juice? if some wise guys bet at a book and the book gives them high limits they could get lopsided on the wrong side often. that would certainly be a reason to cut someones limits. i dont mind at all if others people's limits are cut, mine will never be because my big play is 500, average is 300. <HR></BLOCKQUOTE>
Answer to your question from Skip of Grande sportbook
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>However, some say a sports book can’t win in the long run by continuing to take high-limit wagers from the top professionals and syndicates.
"That's not true at all," Skip said. "You can't book to all recreational players and just a couple of 'wise' guys because the 'wise' guys will swallow up all the profits.
"But if you welcome all of them and move your number, you will get action both ways to a game. You can get them fighting each other, and it becomes a nice business. It works well for me."
<HR></BLOCKQUOTE>
Answer to your question from Skip of Grande sportbook
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>However, some say a sports book can’t win in the long run by continuing to take high-limit wagers from the top professionals and syndicates.
"That's not true at all," Skip said. "You can't book to all recreational players and just a couple of 'wise' guys because the 'wise' guys will swallow up all the profits.
"But if you welcome all of them and move your number, you will get action both ways to a game. You can get them fighting each other, and it becomes a nice business. It works well for me."
<HR></BLOCKQUOTE>
a book which cuts your limits is basically admitting to you that it has incompetent people setting its lines.
I have been limited by books with lines as soft as Swiss cheese. However, this does not really restrict my action as I have several friends I can bet through, it will take these books years to limit all my accounts.
IMO no matter how solvent these books are for now, there are serious questions for them to answer in the medium to long term. If they maintain a policy of booting winners and sharp players, in my view this is not sustainable.
In the end such a policy is no substitiute for hiring competent people to begin with who can set decent lines and move them sensibly.
Internet betting is still very immature which is one reason why there are so many profit opportunities in it. As it matures, the good will drive out the bad. Those books whose employees know what they are doing will drive out the ones who have the fools.
I have been limited by books with lines as soft as Swiss cheese. However, this does not really restrict my action as I have several friends I can bet through, it will take these books years to limit all my accounts.
IMO no matter how solvent these books are for now, there are serious questions for them to answer in the medium to long term. If they maintain a policy of booting winners and sharp players, in my view this is not sustainable.
In the end such a policy is no substitiute for hiring competent people to begin with who can set decent lines and move them sensibly.
Internet betting is still very immature which is one reason why there are so many profit opportunities in it. As it matures, the good will drive out the bad. Those books whose employees know what they are doing will drive out the ones who have the fools.
