Deadbeat Bookies

[phep]

Attention all bookies. 110/100 is as good as growing money on a tree. Add in the fact that most sports gamblers are undisciplined, clueless squares that last six months at most, and you should be rolling in a mountain of dough. If you are not getting rich or at least showing a very nice profit, then your incompetence is overwhelming and you should not be in this business. In fact, you should not be in any business - start punching a time clock.

There is absolutely nothing more disgusting than a bookie that doesn't pay a player. You have everything working in your favor and still manage to screw it up, forcing the player to pay for your gross mismanagement and complete lack of business acumen. The recent rash of bookies skipping town is both sad and tragic. Winning players spend countless hours dedicating themselves to beating very difficult odds. Some do it, most don't. Isn't it amazing that some of these bookie operations with everything in their favor still manage to screw it up? It is to me.

Bookies that don't pay are one of the lowest forms of life. Those bookies reading this know who you are, you bunch of hapless boobs. Stop making the players pay for your stupidity !!

[Blowfish]

Phep,

You're right on most counts there, but you failed to take a couple of things into account. 110/100 is like growing money on a tree if you don't need miracle grow, additional water, good potting soil, special lighting, and pumped in carbon dioxide to make it grow. In other words, if you are an inner city bookie who does it all himself with next to no overhead.

For those who work offshore that 10% vig is reduced by salaries, bandwidth, technology, software, bonuses, hackers, poor seasons, unbalanced books, owner/operator gambling, the list could go on forever.

Oh, don't forget the picking up of fees on credit card transactions, the Western Union fees, bank wire fees, payment to local governments for employee costs and licenses.

Other than that, it's a piece of cake.

[Parlay Guru]

Phep, the profit margin is not as great as you think. The problem is that they spend more than they make. They look at the short term gain as profit. Then they don't have enough funds when they do get it hard.

[Fraidy Cat]

Even with the costs involved, it must still be profitable with all these books that have been around for several years. Why do some make it and some fail? Aside from the obvious reasons, such as the deadbeats who gamble with players money.

[Dragon]

Some make it and some fail because some know how to run a business and others don't. Look at Sportingbet and their group of books. That's a corporation. Then look at the books who failed and what they did. Caribi snorted the profits. Premiere League and Aces Gambled it all away. The point is you don't have to look to hard to find what went wrong with certain books. Take a close look at which books are run professionally and which aren't and you'll be on your way to NOT getting stiffed.

[Blowfish]

A lot of these guys aren't tested until times get tough. They may be the most upstanding, professional guys until the cash starts to run short and they panic. Aces couldn't have always been gambling, and neither could Premiere League or they would have been history long before they were. So how do you know when someone gets desperate?