Posted: 4/4/2012 4:12:51 PM
QUOTE Originally Posted by CoverMyLosses:
How long have you been a bookie for and has anyone not paid after a loss? Generally, do players play on credit and what is the maximum wager you would take?
My uncle. He had me started out by going out there and recurit my high school and college friends to place a bet. After a few months into the game, I realized that none of my friends are winning and almost have to collect from them each week. I then asked my uncle how much he makes being a bookie then realized after the answer he gave was what I wanted to do after high school. He told me he started out like me by going out there into the fields and getting clients that I knew who had the financial support and people I can trust.
We give them a limit and have to earn that through out the time. We usually start them off at $500 credit and max bet $50 back in the days. If I cant collect, I usually just intiminate them and if you cant get a monthly or any types of payment from them, we just took it as a lost and I just lost our friendship.
You will make enough to where you dont have to hunt down a person that owes you. I collect Tuesdays and payout Thurs. You have to give some time for collection. There will always be a middle man. I have over 10 middle men who goe's out and collect for me. I pay my middle men % on total money he collect off lost or wins.
I started being a booky right after High school in 1998. I was able to save enough money and my uncle was my back up. I wouldnt take more then what I cant cover. I take all parlays like nothing but those single bets are the ones that can hurt you if you dont know what your doing.
Right now as of current, my new clients has a bankroll of $1k and max bet $300. The bankroll is like a credit card payment. If you on time and never late, you credit limit goes up and so does your bankroll. I have to see no late payment for 3 months then I will ask the client if he wants to increase his bankroll. If they dont pay, I will sweat my middle men but thats all I can do and just take it as a lost. Move on because it is illegal and you cant do anything stupid to hurt them. You will make good money in a long run.
Those two sharps probably a bookie who just pushes bets to me..I dont know but all I see is there numbers. They have been winning so I dont know if its there picks or bets they are pushing to me.