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How the FUCK do bookies make money?!? ***Mind-boggling stats inside***

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Posted: #26
Quote Originally Posted by cutebrute:


nice stuff. here's another one. if a guy is up, delay and stall for a week. hopefully they lose some of it back.


agreed. always offer them to play with house money

9 times out of 10 they will do it
 
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Posted: #27
and for people ripping AgainstDaConsen; his people dont have to bet with him

his house, his rules. the lowball paying people i dont agree with but the other stuff is fine. if you dont like his rules, dont play through him
 
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Posted: #28
Quote Originally Posted by KOAJ:

and for people ripping AgainstDaConsen; his people dont have to bet with him

his house, his rules. the lowball paying people i dont agree with but the other stuff is fine. if you dont like his rules, dont play through him

hehe, I knew there would be backlash but I wanted to say something... 

You have yo do some dirty shit but that pales in comparison to the shit we have to do when we have to collect from stiffs...  All of which I will not get into on a covers forum... 

The stiffs are why I/we do what we do, this is just my first year large going it alone...  

I have a partnership with an offshore website and I offer everyone of my players the access to an online account, but they still bet with me

But I will guarantee, everyone of my clients is happy, everyone has fun because I make it fun... and they all know not too mess with me...

Get Stabbed, not likely... LOL
 
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Posted: #29
Quote Originally Posted by eddothebook:



Good fucking read!

You have no idea how much I admire you for all this. But isn't it too much work? I mean taking bets, taking the extra juice, etc is all good but if you have that many players and you're making money, isn't it a risk that you will get busted by the cops?

Plus, isn't the small juice difference peanuts? Even if the bet is risking $600 to win $500 and you make a "risking $575 to win $525", you only make $25.

The other issue that I have is, even when I have 1 or 2 clients, they call/text me at the most random times to place their bets... while I'm eating or with people or with my girl. I have to hurry up and look up the lines on my iPhone before confirming. Imagine if I had 20 players?

Let me go over what you said in your post.

If there is a game that you dont want to take action on you have to not take it...

That's one thing I cannot do. In the business of booking you are selling one product: Hope, Dreams. For people who want to risk what they worked hard to earn to make what they don't want to work for, instead watch it unfold on a playing field. There is no worst feeling for a gambler than not getting action on a game that he was dead right about. My last client won 11 straight, but gave all his "sucker action" to his other bookie only because the other bookie gave him a credit line. So what? He still has to pay it. Imagine if bookies didn't take action on Stanford this year. Or any of the Baylor Overs...

-If you got a guy hitting totals, try not to take em or tell him the limit is really small... People tend to get hot hitting totals, and it may last for weeks...

It's funny this never affected me. Totals are as unpredictable as ever and my players have been losing quite some money in totals. It's true that total streaks can go hot. It's written everywhere, on almost every betting advice sites and even backed with the fact that most books have smaller limits on totals. I just never had the experience.

-bet against your home town team when "your" public is betting them... When people bet on my Redskins they always fail to cover...

I don't know what you mean by that. I agree with the whole "make your home team pay a bigger price". But I do not believe who bets on a game affects the outcome. I also believe being as honest as you can with the lines will keep a client loyal. Some like to bet against the home team as an "insurance" ("If they win I'm happy, if they lose I get paid"), kind of like an emotional hedge.

-For people who you know are casual betters or dont know the difference, give them a line that is 1.5-2 pts aways from where the line is... These pts are HUGE in the NFL...

I can't do that because I always tell me clients to go on X web site to get the lines that I follow. That makes my work a lot easier.

-If you have too much action on one side, do yourself a favor and place a bet on your online account... Its not worth the risk... Dont let one game make or break your day...

Agreed. I do that and if I actually like the other side, I'm actually getting +110 on it without placing a bet :)

-If you can get guaranteed dough take it...

It's usually pennies. I don't mind sweating out the game at +juice.

- If a person is on a losing streak, ride em till they die, extend em credit.. and take that big bet they make on the Cowboys... It is risky, but THEY WILL LOSE...

Not sure if I agree. The losing streak, the chase, etc is said to be true. But I have witnessed countless times when someone (myself included) chased losses in a form of Martingale and eventually got even. Not that there is anything wrong in letting someone bury themselves, that also increases the risk of getting stiffed. "I am down $2K that I cannot pay back, I am behind on rent and other bills. Fuck it I am ruined anyways. I'll go 3K on this bet and if I lose, I'll stiff my bookie. What's one more creditor?"

- Lastly, lie... If someone wins 20k tell em you have em winning 18k

Pure dishonest. But in order to protect myself from someone who can say "I took the other side", I always have plays in writing (email or text). So I can't really do that either.

HAVE A WEEKLY POKER GAME...

Too much competition from the mob in my city :-/

delay and stall for a week. hopefully they lose some of it back.

Mathematically, it does not give you an advantage. You are getting a better chance of getting your money back but just as much as losing double. I once stalled a guy after he turned a $50 "deposit" into almost $2K. I had no means to pay him and told him "not to lose his balance until I come back to town with the money". I actually had no intention to pay him that time, since I was broke (one of many times in my life). Sure enough, he went on monkey-tilt degen mode and lost it all on 4 plays!! He cried about me not paying him on time, blah blah blah.

I guess all I am trying to say is make your own rules... You are already conceding to the fact that you owe these people something... You dont... Its not easy or even legal to bet and you are doing them a favor and taking on a risk... Not a huge risk but I risk... Sorry about the mob, but you are just gonna have to risk it, if you have to cut someone in do it, I am sure the mob will be happy with a 2-5% rake, or just rake more than 10%, people will still play.... The poker game is a must... You need people to be recycling there money win or lose... 

It is time consuming... especially on the weekend, but this year it is worth it, and the way I see it, one good year will make it so I ca afford to have a losing one next year... 


 
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Posted: #30
Couldn't help being intrigued by your thread title because it just looked ridiculous to me....  come on! Losing book-makers? lol
OK, I understand now that your experience as a small-time book has been....well, not much fun.
I have never known a book who wasn't a winner. And casinos and such are always profitable in the long run. Sure, they take big hits and bad a weekend here and there...but in the long run, they kick ass. They have deep pockets and they can withstand the outliers which exist in the field of probability. In the long run, they WILL always win.
It's because Joe Public is a loser. Yes, there are winners out there but the typical gambler in NOT a winner. Look, I'm not slamming losers. We need losers, I need losers. If not for losers, I could not be a winner. There would be no books, and I could not wager. Thank God for losers!
That being said, and not even have read all your posts, I can tell you why you are losing.
You're a math guy (according to you), so I don't understand why you don't already know yourself...
You are a small-timer. You said so yourself. You do not have an appropriate sample of clientele to even out your results over the long run. I will hypothesize  that your small sample of betters out of the big pool of bettors out there happens to be a group of above average FB cappers. That's a losing recipe. I would no way, no how want to be making book against a small group of winners. OUCH! You need the typical FB bettors in your clientele who typically stink it up week after week.
I will guess that due to the illegality of book-making, unless you are a casino or offshore book, and just giving you the benefit that you are a smart person, that you have limited your clientele to people you know and trust (friends).
You say you are a winning gambler. I would say your friends (we tend to befriend others who are more like us, not less like us) are likely above average gamblers too. And your friends are going to recommend their friends to you who are also probably better than average.
For me personally, I have a few friends that gamble. Do you think I hang out with idiots? Do you think I want my mind polluted by listening to shit-gamblers who are friends? No, my gambling buddies are also above average gamblers as am I. If I am going to discuss FB with friends, I want the discussion and thinking to be astute and intelligent. There is an old saying which applies "if you argue with idiots, they will bring you down to their level" There's some truth in that one....  I wouldn't make book for my friends!!!  Anyway, in your situation I'm going to suppose that you sir, are the fish, they are the sharks.
My advice would be to shit-can your business. You are not going to win in the long run making book against winning gamblers. You could try to find some recreational gamblers to build up your clientele but then you are taking much larger risk because these will be people you can't necessarily trust (you won't know them very well) and the odds are you will get into a shit-load of trouble sooner or later.
Please don't take my comments the wrong way. I am not putting you down, honestly!  I'm offering my thoughts only in the spirit of trying to help.
BOL to you in the future!

 
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Posted: #31
is that waht people do to avoid welfare in the north west territories? that like the shithole of canada
 
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Posted: #32
Quote Originally Posted by efro:



kinda hope u get stabbed :/
   if there is a god.. worse bookie I ever  heard about.. must have clowns for clients.. along with the book it makes sense..
Be careful with the axe Eugene.
 
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Posted: #33
I have been CRUSHED by betters this year! It is fucking CRAZY! One week of collecting all season....The rest paying out.
 
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Posted: #34

By sticking with it for the long haul, and not freaking out when their clients catch lucky breaks over a small sample size.

If you don't know this, you're probably not a bookie, or shouldn't be trying to be one.

 
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Posted: #35
Quote Originally Posted by numbersbuster:

Only an idiot would deal with scum like this.  Glad you found  some willing idiots.  Congratulations dirtbag. Hope your idiots get really stupid lucky despite your buggering and clean your clock.  Someone will.  Karma baby.  Don't judge me for thinking you are a total a-hole.



The problem is, even if they do get "stupid lucky", he will probably stall them, shave their balance or use some of his other tactics until they dump it all back or get raked away at his Poker game.

I don't understand how this guy can have so many clients when I don't have more than a few in spite of being a stand up guy. And I don't believe he lives in the Northwest Territories either. If he does, then kudos, there are no cops in the NWT. Everyone lives in an igloo.


 
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Posted: #36
Yes I know bookmakers "should" win in the long run. I mean even if I have a small sample of small bets, I am still taking action as +110 on every game. That -110 is a worst proposition than playing Blackjack or Pai Gow at the Casino and I have been losing my shirt playing small time house games at the Casinos.

Most of this year in college has been a bad year for the bookies. I found out I wasn't the only bookie getting rocked.

Favorites covering spreads, totals hitting Overs. In a magazine a sportbook manager in Vegas mentioned how bad Vegas was running in sportsbooks and how that cover by Stanford against USC was a shot "way below the belt". He also said that "the house always wins" and "we hope things go back our way (and then some) as they always do".

He was right. I got destroyed in my bets in college from that week on (week 10 I think).

Is it time I forgot about betting football in the 2012 season and just take action from players?
 
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Posted: #37
where's billy walters when you need him?
 
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Posted: #38
you have to be  in with  SEVARAL  bookies  AND  you have to  have at the most  30  to players  if to much action  you have to be able to flluff  bets  to other books......this is NOT a easy  thing to  do the many years ive  been around......this is not a single  operation
 
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Posted: #39
[ ] - mind boggling
 
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Posted: #40

lol be a middle man, not the bookie. They call you a bookie because you book for them but technically you are the middle man of let's say MR. Boss bookie, and every win or loss they spit you 10%-30% com. So in order for you to live in a long run and not selling everything you have or going bankrupt then don't take over the lines, send them, and win your com $. that's how "local bookie" win... ofcourse people get greedy and don't send the lines out, to win 100% instead of 30% com, guess what you may take a chance of losing 100% and no com.

For ex I bet Philly 1k this week, you decided to hold my line and philly won, you just lost out of your poket 1k- but if you send my line out to your bookie, and philly won, you would have made $100 com. (well depend on how your com work), so goes the other way around...

Best advice- Dont be too greedy! Find like 5 big betters 5k-10k avarage weekly and you would make over 3k per month on com $ easy...

 
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Posted: #41
I would never play with a bookie that told me couldn't take action on a game b/c he was maxed out..that's bush league. And if I noticed he was inflating lines, I would seize betting with him as well.

I wouldn't follow againstdaconsen's advice. he must have some real suckers betting with him
 
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Posted: #42

I don't understand the back lash against ADC's post. I've never been a bookie but none of that surprises me. As some people have said: congratulations on finding suckers to go along with it. One of the smartest things I've ever heard is "if you can't spot the sucker in the room - it's you." For the most part, unless all of us are in one of the few cities that allows gambling, everyone that is wagering is doing something illegal - it's a bit preposterous to get on this guy's case for hedging the odds of being profitable in his favor.

He makes his own rules. If any one of that surprised you, then you're a sucker, not him. Keep tabs on your own bets and balance, then you'll have no problem. If some guy ran up to you and said "I'll pay you $100 to kick me in the nuts," you'd jump all over it and the same thing applies here. If someone wants to be stupid enough with their money and not follow-up on their own "investments," then they're to blame.

Don't judge the guy for being dishonest when he's the one that takes your illegal bets.

 
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Posted: #43
Quote Originally Posted by Kaufee:

I would never play with a bookie that told me couldn't take action on a game b/c he was maxed out..that's bush league. And if I noticed he was inflating lines, I would seize betting with him as well.

I wouldn't follow againstdaconsen's advice. he must have some real suckers betting with him


What if he was the only game in town?  You know you would hit up the occasional dog. 
 
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Posted: #44
Great read....people will always deal with house rules when there is only one in town.  As long as there's a guy who pays out they will deal with the BS.

To the OP: If you are small you need to key in on the big players and know their tendencies and adjust the line and total accordingly. I know a guy who I used to bet with who would adjust lines 1-4 pts I always told him he's nuts but he has so many parlay players he always gets paid.

Why do you end on a Sunday?  If you collect or pay Wed/Thursday they will always play Monday to chase or to play with house money.

Few things my guy (middle man) does that pisses me off.  Texting out lines and having a due date (prevents him from being tied to phone and internet all day). Caps per game.  Shitty Parlay and teaser odds (not sure why must have gotten kiled in past on these).  Why do I use him?  Only game in town who pays.
 
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Posted: #45

i had a nice 8 yr run bookn mostly small action 2-4 guys regular dime players. Anyway economy goes in dumper guys cant pay.ILL.crime strike force visits 1 sunday 1130 am  one of the smaller players didnt wanna pay . Im still on probation 2yrs later. But  i would do it all over again! GLTALL  DK

 
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Posted: #46

" Sorry man, that game has been maxed out."

 
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Posted: #47
So what do people do when bookies stall or don't pay?
 
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Posted: #48
Quote Originally Posted by KOAJ:

and for people ripping AgainstDaConsen; his people dont have to bet with him

his house, his rules. the lowball paying people i dont agree with but the other stuff is fine. if you dont like his rules, dont play through him
a KOAJ sighting
 
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Posted: #49
 
 
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Wow, tons of misinformation on this thread.....I  was a bookie about 12 years ago, The internet killed my business, at my peak I only had 7 customers and was doing it for about 10 years.

I never had a losing year, I definitely had bad streaks, but all the money always came back. Near the end of my run I was down to only one customer, I only took NFL bets with him, in 2002, he had 18 straight losing weeks. I think including playoffs he had 2 winning weeks and 20 losing ones.  and he did not bet parlays.

It was not huge money, averaging about 1k per week, but I was in  my early 30's and the money really came in handy.

Once my last customer bailed, I resumed betting myself, and have never had a winning year since.

Here are the basic rules that I followed:

1-only take bets from people that you know
2-always pay promptly
3-Dont play games with your customers, (playing with lines, taking games off the board)
4.pretend that you are part of a big operation

In the long run you will make money, just absorb the losses, you will get the dough back.






Quote Originally Posted by AgainstDaConsen:

I have been taken action this year and am up huge...

In order to win you have to be a little dirty...

If there is a game that you dont want to take action on you have to not take it...

-I didnt take a Green Bay Bet all year....  when people asked I said "maxed out" as in too many people had taken the side and I couldnt take the action.. I also have done almost every week for Patriots games as well

-If you got a guy hitting totals, try not to take em or tell him the limit is really small... People tend to get hot hitting totals, and it may last for weeks...

-bet against your home town team when "your" public is betting them... When people bet on my Redskins they always fail to cover... 

-For people who you know are casual betters or dont know the difference, give them a line that is 1.5-2 pts aways from where the line is... These pts are HUGE in the NFL...

-If you have too much action on one side, do yourself a favor and place a bet on your online account... Its not worth the risk... Dont let one game make or break your day...

-If you can get guaranteed dough take it... Once again this is the dirty garbage, but some people are just not savvy and you can charge them ridiculous juice...  if they will pay 20 cent juice, go on pinny and make there play for 3-5 cent juice and take the profit if you lose... This work mainly if it is a game where you do not have too much action...

- If a person is on a losing streak, ride em till they die, extend em credit.. and take that big bet they make on the Cowboys... It is risky, but THEY WILL LOSE...

- Lastly, lie... If someone wins 20k tell em you have em winning 18k, pay em and if they dont pick up the error, darn em.... if they do, be a girl about how it is there responsibilty and at the worst just give em a few play... 

I KNOW IT IS DIRTY, but remember you are doing them the favor... It aint easy to bet... 

LAST BUT NOT LEAST...  HAVE A WEEKLY POKER GAME... Its always best to have people settle and then have access to a poker game where you rake 10%... If people have a problem, tell em to darn off... have Pizza and booze and a nice girl to serve em...


GL... It has been working for me big this year... NFL is a GOLD MINE... I have only lost money one week taking bets... and even then I was probably close to even after hosting Monday night poker.  
, and pplease dont judge me... LOL

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