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Do bookie's lose money?

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Posts: 173

axion

Captain

Joined: Jul, 2013

Posts: 6388

Posted: Oct. 30, 2013 - 4:02 PM ET #151

Quote Originally Posted by RantinRave:

Is there a place for archived lines? I swear the over has been hitting ALOT more often these days.

Christ, google can help you with that. But it looks to me that you have no business to be even near gambling, especially as a local bookie; you will go broke and/or will get your legs broken.

crazray

Prospect

Joined: Dec, 2002

Posts: 24

Posted: Oct. 30, 2013 - 5:52 PM ET #152

if you keep your players on a limit that you can stand-it will work out.def need teasers and pars.the more they play,the better off you are.

rstacey

Prospect

Joined: Jan, 2010

Posts: 65

Posted: Aug. 1, 2014 - 11:46 AM ET #153

Quote Originally Posted by Chadnailz6:

lightsout,

you are moronic if you are claiming that a bookie is not hoping for near equal action on the games. Why in the hell do you think spreads are created? To lure people into betting evenly on the matchup.

Take this as an example:

Bookie takes 100 bets on Monday Night Football game. Colts vs. Patriots, Patriots favored by 3. It is a bookie/sportsbooks nightmare if 85 people take the Patriots. They don't want to lose all of that money. By getting more even bets, the bookie is going to make money no matter what.

If you're bookie would rather take the 85-15 spread, then I would deem him an ignorant person...

The bookies should like a 85-15 spread, if they like to gamble. There is a better chance they will win than lose because vegas would not put out a spread like that unless they knew something that the public didn't. For example vegas thinks that the spread should be -6. They know that if they put that out that everyone will jump on the favorite, so they adjust it to try to get more balanced action and move it to -9. Still 85% go for the fav. The bookie ends up with the dog + 9 when they should only be getting 6. If they took $8500 on the fav and 1500 on the dog then they would either win $7850 or lose 6850 (after the juice is figured in) on what is at worse a even bet. Or they could move it to -12 and win $500. Most likely the smart money would win and the suckers who can't afford it and might not be able to pay would lose.

jimbodad

Prospect

Joined: Nov, 2011

Posts: 12

Posted: Aug. 15, 2014 - 3:09 PM ET #154

answer to your question?

EVER SEE A BOOKIE DRIVING A VOLKSWAGEN??

trust-me

Captain

Joined: Oct, 2008

Posts: 7654

Posted: Aug. 18, 2014 - 1:42 AM ET #155

Only if i bet there

Kidding

Mr Evil.

butkusmlb

Veteran

Joined: Jan, 2006

Posts: 1395

Posted: Sep. 17, 2014 - 9:38 AM ET #156

Quote Originally Posted by rstacey:

The bookies should like a 85-15 spread, if they like to gamble. There is a better chance they will win than lose because vegas would not put out a spread like that unless they knew something that the public didn't. For example vegas thinks that the spread should be -6. They know that if they put that out that everyone will jump on the favorite, so they adjust it to try to get more balanced action and move it to -9. Still 85% go for the fav. The bookie ends up with the dog + 9 when they should only be getting 6. If they took $8500 on the fav and 1500 on the dog then they would either win $7850 or lose 6850 (after the juice is figured in) on what is at worse a even bet. Or they could move it to -12 and win $500. Most likely the smart money would win and the suckers who can't afford it and might not be able to pay would lose.

Bookies don't like to gamble or they wouldn't be bookies they'd be customers.

The best in the business which is about 10% of books, all have lay off books and they work together. If one guy gets a monster 85-15 like you mentioned, he simply splits them with his lay off books.

15-3 x 5 lay offs and either everyone wins or everyone loses but the wins and/or losses are not as heavy so no one makes a killing and no one gets killed.

These discrepancies are so rare that they are not really even worth worrying about. 60-40 is a rare occurrence so don't bother bringing up an 85-15 in a serious discussion.

That's graduate course booking.

KingJohnI

Prospect

Joined: Sep, 2014

Posts: 31

Posted: Oct. 2, 2014 - 8:06 PM ET #157

Quote Originally Posted by goblue2424:

Bookies only lose money when I bet with them

LOL @goblue2424 U must BET against the 'house' that is the Big House......LMAO

KingJohnI

Prospect

Joined: Sep, 2014

Posts: 31

Posted: Oct. 2, 2014 - 8:06 PM ET #158

Quote Originally Posted by goblue2424:

Bookies only lose money when I bet with them

KingJohnI

Prospect

Joined: Sep, 2014

Posts: 31

Posted: Oct. 2, 2014 - 8:14 PM ET #159

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.

Easiest answer in all of Covers...though answer is 3 years coming

Find out direction your little peeps bet..set line 1 pt off line of your bookie. Take wager and lay off bet on bookie...1 of 20 should middle and are 'free' money (save for attorney's fees and of course dispose of your computers every 30 days..LOL)

aCTNATURAL

Prospect

Joined: Oct, 2007

Posts: 54

Posted: Oct. 12, 2014 - 1:09 PM ET #160

i'm understanding he's the bookie..... B. continue: only if he can get another bigger bookie to push out to and push out 75% of the action and keep 25%, if after that he is still losing then quit or find more degenerates to even out and profit....it's really depend on money management/ how deep is his pockets....alway push out the action and set a limit

MyAmbitions

Prospect

Joined: Sep, 2014

Posts: 5

Posted: Oct. 18, 2014 - 6:57 PM ET #161

Wake Up. Name of the game in Sports Betting is make a Profit, You are not going to win every Bet . Not even the Sports books can do that. But if you do your home work a Profit can be made, Done bet every day, trea this Business like Investing In Stock. find something you like, play it. let the fools bet every game. Smart bettors(investors) Watch there stock options! Good luck Gents

Buck_Manchello

Prospect

Joined: Oct, 2014

Posts: 14

Posted: Nov. 5, 2014 - 11:47 PM ET #162

Hell yeah bookies lose money, last year I shut one down. I didn't use him personally but the guy that was that I was sending my picks to never got a couple thousand because the bookie stopped paying and returning phone calls/text.

At first he would always get paid on time and in full, then as the season went on and I kept slaying as I usually do, the money started taking longer to come back. Then he started putting a spending limit on him and a max pick limit ($500 dollar limit/ no more then 8 bets). Finally he just cleaned him out we're guessing cause he got mad and never gave him the rest of his money LOL!

So far I'm 16-1-1 this NBA season. I'm good to shut another one of them down again!

KingJohnI

Prospect

Joined: Sep, 2014

Posts: 31

Posted: Nov. 9, 2014 - 3:11 PM ET #163

Quote Originally Posted by Buck_Manchello:

Hell yeah bookies lose money, last year I shut one down. I didn't use him personally but the guy that was that I was sending my picks to never got a couple thousand because the bookie stopped paying and returning phone calls/text.

So far I'm 16-1-1 this NBA season. I'm good to shut another one of them down again!

CI got forced out by a very very large bookie. Given a choice, work for them (and risk not posting winning picks = very bad outcome 4 me) and never call them again.

yes you can win too much....

tylerb2115

Prospect

Joined: Aug, 2013

Posts: 476

Posted: Dec. 4, 2014 - 4:29 PM ET #164

Quote Originally Posted by tadlodz:

I came up with is a system where if you bet the same game (teams and over/under) you are GUARANTEED to win 3 out of 4 outcomes.

The wins are:

Win 1 $30

Win 2 $40

Win 3 $90

But, if you lose, you pay $225. Is this something worth trying?

Tadlodz, who are you picking today for streak survivor? I want to tail you

barnz

Prospect

Joined: Feb, 2006

Posts: 48

Posted: Dec. 12, 2014 - 4:58 PM ET #165

Quote Originally Posted by seakev1:

YOU MAKE IT LAND 20-20.......By hedging...

Exactamundo!!!

The result is your juice sort of follows the same methodology as that of a horse track's takeout percentage.

jerzeebook

Veteran

Joined: Oct, 2007

Posts: 1174

Posted: Feb. 9, 2015 - 3:55 PM ET #166

How bout a local guy that takes action on credit and he wants to verify identity before paying out with current utility bill and your driver's license ? I guess he wants to make sure of your location so when you lose you pay the big guy ???? lol

turfplayer

Prospect

Joined: Feb, 2015

Posts: 1

Posted: Feb. 17, 2015 - 2:09 PM ET #167

Stick to your plan. - Just like the market there will be ups and downs. You need a good "call -off" person, and possibly expand a bit.

I would add parlays. Keep it at a 3-team max, and protect yourself a bit. I know there are a few who will disagree, but going from a (12-5) for a two team to (5-1) for a three team is a big plus in your favor. How many times have you gone 2/3 in parlay action ?

Stick to your guns ! - Best of luck !!

TotalLockSports

Prospect

Joined: Dec, 2013

Posts: 1

Posted: Feb. 17, 2015 - 11:10 PM ET #168

Why can't you losing bookies just be happy for your clients?

DegenDeluxe

Banned

Joined: Feb, 2015

Posts: 80

Posted: Feb. 18, 2015 - 4:04 PM ET #169

Jerzeebook, shoot me a PM if you get a chance

dustmiester

Captain

Joined: Aug, 2011

Posts: 5849

Posted: Feb. 22, 2015 - 8:55 AM ET #170

Come on man really how long have u been gambling lol...over my life span I am probably down 200 k ...why do u think there is Vegas Reno Indian casinos lol...u r fooling yourself....in the end the books always win...do,yourself a favor if u want to win...become a book ...google be your own bookie... Or payperhead ..u rent the website for 10'bucksplayer...u r the book and u will start winning trust me lol.......

braves5795

Rookie

Joined: Apr, 2008

Posts: 577

Posted: Feb. 23, 2015 - 1:47 PM ET #171

they would not lose money based on my cbb pix this yr. I suck

mjm1012

Legend

Joined: Feb, 2005

Posts: 41555

Posted: Mar. 9, 2015 - 6:43 PM ET #172

DUST

WillHit

Prospect

Joined: Feb, 2015

Posts: 1

Posted: Mar. 19, 2015 - 9:14 AM ET #173

Started with $10000 . Have between 10 and 20 players. Started beginning of 2012 football preseason. Up $230000 takin $5 to $500 bets. Can be stressful but overall all players are in the red so i say hang in there and always look for more players cause you will break players and have some with problems to pay but the saying goes the house always wins is very much true

William Hitt

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