In theory, at least in theory, setting up a book is perhaps the easiest way of making money man has ever invented.
The problem is, there are too many ways of ****ing things up that lead to so many books going down hill.
Just the integrity or lack there of, of the owners of many books can be held directly responsible for the book going bankrupt.
Theres a million other things you can do wrong but most share the same root. When you're booking 50 dimes on quarters on an NBA basketball game to regular Joes, its almost impossible not to be succesful at it.
The problem is, there are too many ways of ****ing things up that lead to so many books going down hill.
Just the integrity or lack there of, of the owners of many books can be held directly responsible for the book going bankrupt.
Theres a million other things you can do wrong but most share the same root. When you're booking 50 dimes on quarters on an NBA basketball game to regular Joes, its almost impossible not to be succesful at it.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by -SLIM-:
Theres a million other things you can do wrong but most share the same root. When you're booking 50 dimes on quarters on an NBA basketball game to regular Joes, its almost impossible not to be succesful at it.<HR></BLOCKQUOTE>
But you need one hell of a bankroll... even the dumbest gamblers can hit some time...
greetz
forgi
Theres a million other things you can do wrong but most share the same root. When you're booking 50 dimes on quarters on an NBA basketball game to regular Joes, its almost impossible not to be succesful at it.<HR></BLOCKQUOTE>
But you need one hell of a bankroll... even the dumbest gamblers can hit some time...
greetz
forgi
forgi, yes and no.
you need a bankroll, no doubt about it bu you also need to know your own limitations, if you start off with say 100,000 and you're booking 35 customers that bet an average of 50 bucks per game and 1 guy that plays 10,000, you're looking for trouble.
No one starts off big, its just a matter of growing as the business grows.
And perhaps the most important thing to learn is, any profit you get, put back into the business or at worst minimize how much you take out.
Making 100,000 this month doesnt mean youre gonna make that much next month.
Some of the livestyles led by sportsbook owners resemble those of Hollywood stars....
If football season goes wrong, your name goes to hell, you have no money to pay and opt to disappear which is what so many have done.
Its only matter of time before 90% of all bettors lose their whole amount.
In conclusion, yes a bankroll is needed but patience and smart thinking is whats gonna pull you through.
you need a bankroll, no doubt about it bu you also need to know your own limitations, if you start off with say 100,000 and you're booking 35 customers that bet an average of 50 bucks per game and 1 guy that plays 10,000, you're looking for trouble.
No one starts off big, its just a matter of growing as the business grows.
And perhaps the most important thing to learn is, any profit you get, put back into the business or at worst minimize how much you take out.
Making 100,000 this month doesnt mean youre gonna make that much next month.
Some of the livestyles led by sportsbook owners resemble those of Hollywood stars....
If football season goes wrong, your name goes to hell, you have no money to pay and opt to disappear which is what so many have done.
Its only matter of time before 90% of all bettors lose their whole amount.
In conclusion, yes a bankroll is needed but patience and smart thinking is whats gonna pull you through.
There are key reasons why books go broke. Here are some more...
Not a big enough bankroll, and a mixture of greed. They go in with a 200k bankroll, and keep all bets and don't lay off any. They could book 35 dimes on a baseball game, which is almost 20% of their whole bankroll. At 200k bankroll, they should not keep any games for more than 3 or 4 dimes or else they risk of going broke after a bad run. But some books will keep all bets and not dump any out. They are looking for the fast buck and get rich quick, but this always backfires. You need cash to make cash.. deep pockets is big.. and NO greed. I know of many bookies who are also gamblers. They could have already too much on the NYY, and they'll go out and bet the other side for another 5 dimes, because the amount they have is not enough..
You should never have more than 2% (max) of your bankroll on any game or you are asking for trouble. Bookies also book with their hearts a lot and if they like a game, they will lower the price to get action on it and sometimes not even move the number because they are sick and think that just because they love that game, that they know something. NEVER ever should any book handicap a line too much bec they like so and so. If they do like em, fine, but don't move more than 5 cents on a 20 cent line, or more than 2 or 3 cents on a 10 cent line. So bookies should keep the lines accurate and follow the screen if they have to and not keep too much on a game.. And also, when a bookie sees a sharp player who is beating him to every number, alot of bookies have that dumb mentality that they will eventually lose. This is horse shit. Just because they are a bettor, does NOT mean they will lose. They will WIN.. Instead of taking his bets still, they should either lower his limits to very minimal, which will force him to quit, OR, just boot the guy. NO way should any book keep a bettor who is beating him to every number. These bookies just love the action and believe that just bec they are on the other side of the fence, that the vig will catch up to them. They couldn't be more wrong.. But bookies just love to write action, that is why there are a lot of deadbeat bookies out there who will fail and never make it in this business. And it all comes down to one word.. G R E E D..
Not a big enough bankroll, and a mixture of greed. They go in with a 200k bankroll, and keep all bets and don't lay off any. They could book 35 dimes on a baseball game, which is almost 20% of their whole bankroll. At 200k bankroll, they should not keep any games for more than 3 or 4 dimes or else they risk of going broke after a bad run. But some books will keep all bets and not dump any out. They are looking for the fast buck and get rich quick, but this always backfires. You need cash to make cash.. deep pockets is big.. and NO greed. I know of many bookies who are also gamblers. They could have already too much on the NYY, and they'll go out and bet the other side for another 5 dimes, because the amount they have is not enough..
You should never have more than 2% (max) of your bankroll on any game or you are asking for trouble. Bookies also book with their hearts a lot and if they like a game, they will lower the price to get action on it and sometimes not even move the number because they are sick and think that just because they love that game, that they know something. NEVER ever should any book handicap a line too much bec they like so and so. If they do like em, fine, but don't move more than 5 cents on a 20 cent line, or more than 2 or 3 cents on a 10 cent line. So bookies should keep the lines accurate and follow the screen if they have to and not keep too much on a game.. And also, when a bookie sees a sharp player who is beating him to every number, alot of bookies have that dumb mentality that they will eventually lose. This is horse shit. Just because they are a bettor, does NOT mean they will lose. They will WIN.. Instead of taking his bets still, they should either lower his limits to very minimal, which will force him to quit, OR, just boot the guy. NO way should any book keep a bettor who is beating him to every number. These bookies just love the action and believe that just bec they are on the other side of the fence, that the vig will catch up to them. They couldn't be more wrong.. But bookies just love to write action, that is why there are a lot of deadbeat bookies out there who will fail and never make it in this business. And it all comes down to one word.. G R E E D..
Should be at least a 1.5 years waiting period before advertisers can advertise a book, lets face it panam is a mom and pop small time operation right now and thats is all. No one will tell me differently and if they do I will make a fool out of them on this board and every other board in the country until I destroy him for good.
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by jjgold:
They are extreme high rish these days and virtually impossible anymore to dent the established places. There costs far out weigh their volume coming in.<HR></BLOCKQUOTE>
except books like betJamaica.
If Spiro's word isn't good, then the whole industry is screwed.
They are extreme high rish these days and virtually impossible anymore to dent the established places. There costs far out weigh their volume coming in.<HR></BLOCKQUOTE>
except books like betJamaica.
If Spiro's word isn't good, then the whole industry is screwed.
