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Author: [Streak Survivor] Topic: Do bookie's lose money?
Football10 send a private message View Space | Friends | Playbook |
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#51
Posted: 1/30/2011 1:30:34 AM
QUOTE

Originally Posted by daTownDrunk:

haahahah
bookies want even money on both sides
get a clue!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

the he!! they do!

CORRECT  In a whole day of college or pro football, there is no way in hell that all games will be evened out.Basketball even more so. IT AIN'T GONNA HAPPEN. Just another myth. Why do I want to work all weekend for "juice" when I can "kill" the players with some one sided losers. Parlays are "great money makers" for books. Some are surely going to be hit, but the odds are definitely in the books favor. In 25 years of booking, I never had a losing year. Some years I did not make much, but never lost. Over a season parlays were a "cash cow" that made the difference some years between winning or losing.

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#52
Posted: 1/30/2011 10:03:16 PM
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#53
Posted: 2/4/2011 2:46:23 AM
One thing Vegas books have in their favor now is the fact that they have multiple SB side bets. If by some rare chance they get beat on the game, there are lots of opportunities to recoup on side bets. Most local books will not handle the amount of sides that Vegas does. The smaller book is not equipped to get that much info out to his bettors. A small book also has to "handwrite" his bets which makes handling these multiple sides a "nightmare".
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#54
Posted: 2/15/2011 7:41:50 PM
QUOTE Originally Posted by RantinRave:

This is all hypothetical of course..


A person loses a lot of money to online sports books and this person's local guy. He then decides to take action from close friends and some others. In four weeks he gets cleaned out for 4k. Usually a bad weekend would be -500. He's doing everything "correctly" (i.e. charging 10 cents on the dollar, taking straight wagers only, game and halftime lines, etc.)

What would you do?
A. Stop
B. Continue
C. Other

PS - 50% are known degen's. The other 50% never wagered on a game in their entire life.

you dont have enough bank..quit or get a larger bank and ALWAYS TAKE TEASERS AND PARS.. they need 2-3...you need one...no brainer.
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#55
Posted: 2/16/2011 3:43:22 PM
[Quote: Originally Posted by Football10]

Yes, people would be surprised at the bettors that have to be CUT OFF toward the end of the season because they are TAPPED OUT and unable to pay !!! THATS WHY LAS VEGAS GETS THE MONEY UP FRONT!!

If you are going to be a local book and treat it as a career or serious form of income I suggest two things...

#1- Dont take bets from your friends 
#2- Dont give out large credit limits unless you carry a handgun and are not afraid to use it.
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#56
Posted: 2/17/2011 3:07:35 AM
Charge -110 lines but book your action a Pinnacle... PROFIT
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#57
Posted: 2/19/2011 2:36:28 PM
QUOTE Originally Posted by CatchNRun:

Originally Posted by Football10]

Yes, people would be surprised at the bettors that have to be CUT OFF toward the end of the season because they are TAPPED OUT and unable to pay !!! THATS WHY LAS VEGAS GETS THE MONEY UP FRONT!!

If you are going to be a local book and treat it as a career or serious form of income I suggest two things...

#1- Dont take bets from your friends 
#2- Dont give out large credit limits unless you carry a handgun and are not afraid to use it.

I took bets from some friends, those that were $10-100 players. Never let any play do over $500 on any game and never let anyone play a larger amount to "catch up" on losses. That's when players usually end up "broke" and unable to pay. Never let anyone go over a "settle up" limit of $500. Most bettors were required to "pay up" each week. Even at that, I still got "stiffed" by several players. Some never paid and others "paid up" and played again. It's a business and has to be treated that way. It's also a great way to make money if you can stand the substantial "down" weeks when the players "tear your head off". That happens usually when a very large number of favorites "roll in" causing parlays to hit at an abnormal rate. With about 25 or so players the worse losing weekend was about $5500, but I had about three of those in a row.

 

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#58
Posted: 2/23/2011 1:54:39 AM
QUOTE Originally Posted by cisco:

When bets swing heavy to one side you gotta lay some of it off so you won't get buried if you lose. My bookie in Philly had guys in Vegas that would do this for him.

what does that mean exactly... can u explain pls? Like instead of going to big... split it into smaller straight bets?
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#59
Posted: 2/23/2011 8:29:40 PM
QUOTE

Originally Posted by ONEforthaMONEY:


what does that mean exactly... can u explain pls? Like instead of going to big... split it into smaller straight bets?

Say that Texas is playing Oklahoma  and Texas  is -4and I am booking bets and before game time I add up all the action I have on this game. I total it up and I have $8500 on  Texas and $3200 on Oklahoma. I can choose to "sit on" the whole amount and if Oklahoma wins I win $5350, but if Texas wins I lose $5300.

Before this game starts, I can choose to call another "book" and lay of some of the Texas money to him so as to protect myself from a big loss. It is up to the "book" to decide how much risk he is willing to take.

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#60
Posted: 2/24/2011 4:52:12 PM
Keep taking action... you can get beat a month straight , but eventully the bookie is always on top...... Just make sure your friend has the bank roll to back it up.. its risk vs reward , but he will end up in the green!
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#61
Posted: 2/25/2011 1:19:46 AM
QUOTE

Originally Posted by NickCapone:

Keep taking action... you can get beat a month straight , but eventully the bookie is always on top...... Just make sure your friend has the bank roll to back it up.. its risk vs reward , but he will end up in the green!

Yep, you can get beat even a great portion of some seasons, but  by the time the bowl games and the Super Bowl has been played, you are a winner.Some years are much more profitable than others, but in all my years, I never had a losing season. You just need to keep some money in reserve to get you through the weeks that the players blister you. In a marginal year, it will be the parlays that make you a winner. Guys seem to risk more on parlays and play more parlays when they get ahead. They rationalize that since they are playing with the "books money"they can risk more which leads to profit for the book. Parlays can be hit(you have a 1 in 6 chance of hitting a three teamer) but in the long run they are a "cash cow" for the book.

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#62
Posted: 2/28/2011 12:24:16 AM

RantinRave,

If your action isn't balanced you should lay it off to another book.

 

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#63
Posted: 2/28/2011 6:57:21 PM
QUOTE Originally Posted by Coin Toss:

RantinRave,

If your action isn't balanced you should lay it off to another book.

 

BALANCER ACTION  That's the biggest myth in booking. The public is wrong a lot more than they are right. I did't want balanced action. I wanted to make "lots of money on ONE SIDED games. I DID. I lost money on som one sided games, but over a week or usually a weekend, I cleaned up on these games and parlays.

Think about it, there is no way you will ever get balanced action on games. I surely don't want to LAYOFF winning money.

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#64
Posted: 3/18/2011 4:44:47 PM
Bookies don't lose Money.  I was one and It was awsome until things happened after 20+ years of doing a service for my community.
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#65
Posted: 3/18/2011 4:48:02 PM
To football 10 you don't always have to even $ out and move it because remember the players lose.  If you have a 50-100 K difference than maybe think about moving half.  Bookies do studying themselves.  To see how close lines are when they come out
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#66
Posted: 3/18/2011 4:49:55 PM
to Dj  destroyer.  You always have a juice that's how you make your $.
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Posted: 3/20/2011 1:56:46 PM

[Quote: Originally Posted by gambler66] to Dj  destroyer.  You always have a juice that's how you make your $. [/Quote

That "juice bit" is a myth. Books make their "big money" on one sided games. There are at least 5- 10 or more onesided games a weekend in football. THERE IS NO WAY THAT A BOOK WILL BE JUICED OUT ON ALL GAMES. NO WAY IN HELL. I did it for 34 years and loved getting onesided games because I knew I was going to win the majority of those games.Like the SUPER BOWL, I had about 4 bets on GB and twenty plus bets on Pitt which was about a $5000 dollar difference. I won the game "big time". Raked in all those Pitt bets plus the juice.

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Posted: 3/20/2011 1:59:35 PM
QUOTE

Originally Posted by gambler66:

To football 10 you don't always have to even $ out and move it because remember the players lose.  If you have a 50-100 K difference than maybe think about moving half.  Bookies do studying themselves.  To see how close lines are when they come out

I was not big enough to have a 50k difference, but maybe 5-7k difference. Never moved my lines. If players were betting one side only, I just left the line alone and sucked in that money. The majority of the time I won those games.

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Posted: 3/20/2011 2:34:01 PM
QUOTE

Originally Posted by gambler66:

Bookies don't lose Money.  I was one and It was awsome until things happened after 20+ years of doing a service for my community.

Right, BOOKIES DO NOT LOSE MONEY. Maybe a streak of two or three weeks or maybe some marginal weeks, but there will be some weeks where the players get "their heads ripped off" Bookies win, players lose. Some guys are better than others at picking winners. It's usually the player that plays a limited number of games each week. Give me a player that tries to play lots of games and i'll show you a loser.

 

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#70
Posted: 3/20/2011 2:47:31 PM
QUOTE

Originally Posted by RantinRave:

This is all hypothetical of course..

A person loses a lot of money to online sports books and this person's local guy. He then decides to take action from close friends and some others. In four weeks he gets cleaned out for 4k. Usually a bad weekend would be -500. He's doing everything "correctly" (i.e. charging 10 cents on the dollar, taking straight wagers only, game and halftime lines, etc.)

What would you do?
A. Stop
B. Continue
C. Other

PS - 50% are known degen's. The other 50% never wagered on a game in their entire life.

You need to take PAR'S and ROBIN'S

Player needs 66% to break even in a ROBIN

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Posted: 3/20/2011 4:55:34 PM
QUOTE Originally Posted by arnie11720:

You need to take PAR'S and ROBIN'S

Player needs 66% to break even in a ROBIN

Yep. the parlay was my very best friend when I booked. There is a one chance in six of hitting one. It can be done, but most guys play parlays loaded with the favorites. A guy will not do much dammage on a robin hitting one out of three. On a robin, a guy can hit one out of three but can't pssibly hit two out of three. He will either lose all three, win one, or win all three.

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Posted: 3/21/2011 12:52:06 PM
QUOTE Originally Posted by RantinRave:

This is all hypothetical of course..

A person loses a lot of money to online sports books and this person's local guy. He then decides to take action from close friends and some others. In four weeks he gets cleaned out for 4k. Usually a bad weekend would be -500. He's doing everything "correctly" (i.e. charging 10 cents on the dollar, taking straight wagers only, game and halftime lines, etc.)

What would you do?
A. Stop
B. Continue
C. Other

PS - 50% are known degen's. The other 50% never wagered on a game in their entire life.


Doing everything correctly would be taking all those sucker parlays, teasers, reverse bets. He is doing everything wrong by taking just straight work. You also need to ride it out because in the long run EVERYONE loses. That's why good books and Vegas always wins in the long run. Learn from the experience ones. 
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#73
Posted: 3/21/2011 12:53:28 PM
QUOTE Originally Posted by Football10:

BALANCER ACTION  That's the biggest myth in booking. The public is wrong a lot more than they are right. I did't want balanced action. I wanted to make "lots of money on ONE SIDED games. I DID. I lost money on som one sided games, but over a week or usually a weekend, I cleaned up on these games and parlays.

Think about it, there is no way you will ever get balanced action on games. I surely don't want to LAYOFF winning money.



100% true. 
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#74
Posted: 3/22/2011 9:18:55 PM
I say always play underdogs and unders in nba, play favorites and overs in college football, and anytime a bookmaker moves the line 3 or more points one way or the other follow their lead.. also in hovkey always go under totals of 5 goals, cos u can also land on a push alot also.. And of course dont play the whole board, pick 2 to 3 plays per night max.. good Luck
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#75
Posted: 3/26/2011 10:03:23 AM
I loved players that had an appetite for lots of action.
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