choptalk said:
I don't think you need close to 200k to do this. 50-75k should be fine, IMO. You can't really lose, unless book fails. I think it ( $100 day +++) beats earning $25-30 a day in rent, with about equal risk. A $20/hour job only earns $160 a day.
Ted: I'd be betting as well, and only using top books. My regular bets aren't 5k so I'd use some lesser books, but the big bets would be at top shops.
This is why I ask you guys, thanks for all the input, especially D2.
doesnt take a 200K bankroll, and you can definately make more that 100 a day (even with eating a few leads)
I have been doing it for years now, and it really doesn't take a genius to do it. It is just boring and takes up tome so mostguys won't do it.
But you do have to take leads, there is really no way around that. Even with the best software, and fastest connections you might find 50 or 75 simultaneous scalps a year in bases these days. Lines just move too fast and the books are monitoring as well.
The problem with taking leads is that it doesn't take ttoo much to eat your profits, especailly if you are trying to bet 5K or so a side. You are running the risk of losing what it might take weeks to amass by getting a bad side. if a line moves against you, ot only is it moving against you, but the hold is probably going to go up as well. So if you buy a team -135, and the go to -125, then you have to buy that other side at +117 AT BEST. That is eating 18 cents, plain and simple. SO not only do you lose the move, but also the hold on theother side. Again, at best that is 8 cents (at Pin) could be a dime or even more if it goes accross some odds where the books make their split from 10 to 15 or even 20 cents.
It is what I do. It isn't hard, but it isn't exactly easy either.
As for taking out a loan onyour house. If the interest rate is more than 6% then you are looking for trouble. I try to average between 4-6% so if you are paying interest on the money, you are basically going to break even, and that is only if you are doing it all right. Which, if this is the first time you are trying it, is a lot to expect.
If you have the money sitting around then no problem, but borrowing it isn't going to pay off IMO.
I have been doing it for years now, and it really doesn't take a genius to do it. It is just boring and takes up tome so mostguys won't do it.
But you do have to take leads, there is really no way around that. Even with the best software, and fastest connections you might find 50 or 75 simultaneous scalps a year in bases these days. Lines just move too fast and the books are monitoring as well.
The problem with taking leads is that it doesn't take ttoo much to eat your profits, especailly if you are trying to bet 5K or so a side. You are running the risk of losing what it might take weeks to amass by getting a bad side. if a line moves against you, ot only is it moving against you, but the hold is probably going to go up as well. So if you buy a team -135, and the go to -125, then you have to buy that other side at +117 AT BEST. That is eating 18 cents, plain and simple. SO not only do you lose the move, but also the hold on theother side. Again, at best that is 8 cents (at Pin) could be a dime or even more if it goes accross some odds where the books make their split from 10 to 15 or even 20 cents.
It is what I do. It isn't hard, but it isn't exactly easy either.
As for taking out a loan onyour house. If the interest rate is more than 6% then you are looking for trouble. I try to average between 4-6% so if you are paying interest on the money, you are basically going to break even, and that is only if you are doing it all right. Which, if this is the first time you are trying it, is a lot to expect.
If you have the money sitting around then no problem, but borrowing it isn't going to pay off IMO.
