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Is credit a necessary evil in the offshore industry?
I understand so many of the guys out there have operated in the states, and need to take their credit packages offshore with them otherwise they'd have no customers to start with.
But take a good look at the books who have started their businesses without credit, and have done things the right way. WSEX for example.
You would think that guys with solid bookmaking skills, would see the light. Get some solid investors, and set up shop as strictly post up. I wouldn't think it would be all that difficult to get the backing if you've got the skills.
When you take a good look at this industry and the characters that make it up, you find one big common denominator among all the big time bm's that still run credit. At one time or another in their careers, many/most of them were dead broke and in the hole for a ton of dough. That is a fact.
They are missing the big picture here I think.
Open a store with solid financial backing, and book according to the stores bankroll. No credit, and always be aware of your liability. Start small, and gradually build your business.
At least if you establish a solid post up business, if things get tough, your shop is still attractive to others as a possible buy out. But if a good chunk of your shop is credit, no one wants to touch you.
You would think that being around, and being in this biz for so long, that people, especially the old timers, would learn from theirs and their peers previous mistakes, but the same old thing keeps happening over and over.
I understand so many of the guys out there have operated in the states, and need to take their credit packages offshore with them otherwise they'd have no customers to start with.
But take a good look at the books who have started their businesses without credit, and have done things the right way. WSEX for example.
You would think that guys with solid bookmaking skills, would see the light. Get some solid investors, and set up shop as strictly post up. I wouldn't think it would be all that difficult to get the backing if you've got the skills.
When you take a good look at this industry and the characters that make it up, you find one big common denominator among all the big time bm's that still run credit. At one time or another in their careers, many/most of them were dead broke and in the hole for a ton of dough. That is a fact.
They are missing the big picture here I think.
Open a store with solid financial backing, and book according to the stores bankroll. No credit, and always be aware of your liability. Start small, and gradually build your business.
At least if you establish a solid post up business, if things get tough, your shop is still attractive to others as a possible buy out. But if a good chunk of your shop is credit, no one wants to touch you.
You would think that being around, and being in this biz for so long, that people, especially the old timers, would learn from theirs and their peers previous mistakes, but the same old thing keeps happening over and over.
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