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taking bets for a few clients taking bets for a few clients

11-15-2011 , 07:09 PM
Quote:
Originally Posted by greg nice
well i've read up on the "pay per head" sites that you license out, so that would probably be the approach. but at a <5% edge, i dont know if this endeavor is worth it. might be better off using the bankroll to just play higher stakes poker

although, if someone doesnt mind showing me how to calc the math to come up with the 4.5% number, i would really appreciate it
Two people bet the game last night. One bet $11 to win $10 on the Packers, the other bet $11 to win $10 on the Vikings. So you held $22 and had to pay $21 to Packers guy. The $1 left over is profit. 1/22 ~ .045

Your theoretical edge is going to be larger than this though, because parlays, teasers, props, etc.. will have a higher house edge.
taking bets for a few clients Quote
11-15-2011 , 07:27 PM
fwiw i think this level of discussion on booking wagers should not be allowed in this forum. hopefully bob agrees and dodgerirish gets the deserved infraction/ban for participating.
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11-15-2011 , 07:34 PM
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11-15-2011 , 08:16 PM
The absolutely only way to be a bookie is take deposits and make set rules. If people are too cheap to "deposit" with you then they are also too cheap to pay when they lose.

/thread
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11-15-2011 , 10:42 PM
Quote:
Originally Posted by ugotdempocket7s
The absolutely only way to be a bookie is take deposits and make set rules. If people are too cheap to "deposit" with you then they are also too cheap to pay when they lose.

/thread
you tell him cousin.... bookie bookie bookie bookie bet bet bet bet
taking bets for a few clients Quote
11-22-2011 , 08:18 AM
Quote:
Originally Posted by GoCubsGo
from reading this forum, it seems like people get stiffed all the time. usually the bettors getting stiffed by the bookies. i wouldn't have guessed that would happen. i mean i know it's a very shady endeavor, but a bookie has to establish trust with his clients, and if he has 10-15 people, i can't imagine one big bet for one client being worth risking his reputation.

how does the stiff usually go? stiffer just ignores texts/calls?
There are many ways people stiff. I know some guys who flat out left town. Others have zeroed balances for "wise guy action" and threatened to ruin your reputation if you had a problem with it. If you're relatively inexperienced and this guy's been taking action for 30 years and works under mobster types, you kind of have to accept what they tell you.

One guy accidentally stiffed a week's worth of winnings when he died since figures were only reported in weekly, and my great luck, I had what was probably my biggest NFL weekend ever. (I was pretty friendly with the guy so I went to the wake and actually did confirm there was a corpse, so at least my friends got some chuckles about joking that I was standing around with a stethoscope confirming he was dead.)

Other guys simply slowpay like molasses, and in that instance, you kind of have to accept it because otherwise you run the risk of them giving up and flat out disappearing or stiffing you. I had one case where I ran a new account up to 30k pretty quickly, and almost 7 years after the fact, I'm still getting sporadic payments. Annoying that the guy who referred me said I was "lucky to be getting paid" after he swore up and down that this guy was reliable.

You would be quite surprised what stiffs are out there. There's one notorious stiff who's pretty prominent in Las Vegas gambling circles via the radio and newspapers, has a prominent role in a large gambling forum, and is notorious for stiffing credit accounts. I'm not sure why the agents don't out him, but I guess the problem is that they can't draw attention to themselves without running the risk of legal problems.
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11-22-2011 , 04:52 PM
just play poker if you're good
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