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Booking friends Bets.... Need advice

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Covers Rehab
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Posted: #26
You could pull a sportsbook.com, and just empty out his account...
 
 
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Posted: #27
Quote Originally Posted by rxpert:

i agree w/ refer EXCEPT you had to knock down his limits if you have no bankroll. Just like betting your own $ you have to set a limit on HIS bets. That was your mistake early on. NOW, take his bets but only keep maximum 5% of your bankroll. You can call the rest off for a % or a better line. He will lose. imho, i'd rather be a dumb bookie than a smart handicapper. I think i'm the latter, but can't be the former for fear of losing my job.

I concur but there are a number of ways to LIMIT your exposure without turning away his action. Running a book and taking games is still a customer service industry and a player at this level is going to have MANY choices of where to play. I will tell you I book for a small handfull of medium stake players ( the same level of action ) this guy is talking about and 3/4 of my my clients have come to me because someone else wouldn't book their action or didn't want it. My best advice would be # 1 Don't screw with the limits, if you need to limit your exposure do it behind the scenes. Not with the players involvement or knowledge. Even if it costs you the juice to lay the plays off elsewhere if you are running this like a business in the long run it will pay off $$$ # 2 Don't screw with the lines, someone playing this kind of $$$ is motivated by the action and can probably afford to lose when he does, don't make him feel cheated or screwed by jacking with the lines. Definetly take your side of the line if it is something that has different lines out there but in games where the line is a solid 3,4,6,7 or a critical point don't start adding hooks. You risk losing his action if he feels cheated or f'd with.

Other than than just sit back and trust the books and lines will take care of him over the season. There is a reason 92% of players that play football lose over the course of the season and with this guys betting paterns NO WAY he wins over a season. My experience as soon as dogs stops covering he'll start playing fav's in teasers instead of straight up and from there it is all downhill.

 
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Posted: #28
Here is an idea :
 
For the time being limit him to the dime action per game.  This way he will play more games, Later you can increase it when you get to a comfortable point again.
 
Also, instead of doing the two week payout thing, give him a window payout say... 5Gs (he's up 5Gs you pay or he's down 5Gs he paysout) he will get caught up trying to reach that window payout and you will get your money back.
 
MVP
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Posted: #29
You need to decide if you want to be a player or a book. Sounds like you're booking action for somebody that's playing at a higher level than you are. That's just crazy. You have no control -- this jackass gets to choose what games you play.

If you want to book, you need more players, not one guy that is 90% of your handle. Get a financial partner, and recruit more players.

Otherwise just drop it. Percentages only work in your favor over the very long haul, so waiting for this guy to cool off might bust you. Not worth it. If I'm going down, I want to go down with my own picks....
 
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Posted: #30
refer, i DO agree w/ you. i misunderstood. I also mentioned laying off. No limits are necessary within reason. 1. you need a place to lay off & 2. you have to be sure the bettor can afford what he is playing.
 
Prospect
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Posted: #31
Quote Originally Posted by Boston George:

Here is an idea :
 
For the time being limit him to the dime action per game.  This way he will play more games, Later you can increase it when you get to a comfortable point again.
 
Also, instead of doing the two week payout thing, give him a window payout say... 5Gs (he's up 5Gs you pay or he's down 5Gs he paysout) he will get caught up trying to reach that window payout and you will get your money back.

Boston-

The 5,000 limit either way sounds like an awesome idea!!!!!!!!!!!

 

 
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Posted: #32
Male,

I was once a local book before too and the one advice another large local book gave me that I will always remember, if you a certain player that has been killing you, just accept it and let him go.  It's better to loose one player than trying to hang on to him and let him kill your bank roll.  You're in this business to make money, not to loose money. 

Why try to ride him out thinking the tide will change when he's killing your bank roll right now?  Don't know when the tide will change but you might go bankrupt first.  Do you want to gamble like that or accept the loss and try to recover from others.  Refer him to other associates, may be his luck will change. 

That's my advice to you because that was the best advice I received from someone else.

GL!!!


 
Captain
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Posted: #33
Hey Male,
 
If this guy is betting over what you can handle you are going to have to do something, decide how much you want to keep of his bets say it is $500 or so if he gives you a $2000 bet give $1500 of it to the bookie do not lose this guy he will lose in the long run thru chases or what not, and if he is too hot and you feel uncomfortable just put his bets in for him, the key to winning in the bookie business is waiting, becuase once you dump this guy he is going to go on a cold streak it always happens, this guy will lose in the long haul, just lay off the bets or parts of the bets until you feel comfortable, from what i hear bookies are getting killed this year in football, the tide will turn and he will start chasing losses and what not and will in turn start to lose, and if he is betting the nba even better.  I also have a suggestion for you, if you are good friends with your bookie call him up and say to him this guy will be calling you and i want to take a % of the action that he is betting say you want 50%, say you answer the phone for him and what not and ill do all the collecting and you get 50% of the wins and losses and i get 50% of the wins and losses i am sure he will do that, this cuts you out of the loop as well, and when and if you are ready to start taking his full action just tell your buddy to not call the bookie any more and call you, just some thoughts, but dont book what makes you uncomfortable, remember you gotta sleep at night too and live your own life dont become a slave to this one guy because you are booking out of your range.
 
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Posted: #34
also male, make sure this guy is going to pay you if he loses as well, be 110% sure that he will give you whatver amount he loses on time
 
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Posted: #35
maleescort, i'm also a book and i have had a few similar situations happen to me.  email me and i will talk to you about this in detail.  i will tell you exactly how to handle this situation.
 
angel2fan@aol.com
 
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Posted: #36
My friend, I think you are about to make money here...Great run for a square, squeares WIN too but NOT in the LONG TERM, but If you cant handle his action you shouldnt had taken it, now you are in a problem here, but if he countinous wagering like these he will start to loose very soon, Favorites are hitting on NFL but Vegas is adjusting that, just trust Vegas, If you could tell us what Mr.X bet the 2 hot weeks he had we could see a little bit more how he bets, but for these bets, he is a square, anyway GL !!!
 
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Posted: #37
call his plays off maybe you can get a better number than you give him add a bit on if you like when he crashes a week or so start collecting agian......if he bets enough games he'll never outrun 11/10 unless hes really sharp ..if thats the case then post his plays for me!!!   besst of luck either way bud
 
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Posted: #38
        Cover yourself by putting his plays in a parle  and send it off . Avoid the possibilties of a clean sweep by him until things start turning around for you.
 
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Posted: #39
i am glad he is taking your money. why cal him a square  because he bets the favand over. bunch of idiots lol
 
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Posted: #40
Quote Originally Posted by georgem:

i am glad he is taking your money. why cal him a square  because he bets the favand over. bunch of idiots lol

 

Here come the ASS CLOWNS with nothing to add .........

 
Captain
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Posted: #41
You're in the game now, the only way to get your money back is to keep taking his plays. Don't lay them off, I doubt he is experienced just by looking at some of the plays you showed us.Ride it out man !
 
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Posted: #42
Square up every week too. When he does get pummeled,you don't want him in too deep that he can't pay off !
 
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Posted: #43

Guys,

 

Thank you for all of the good advice.... I am not a BOOK.... I take a few guys action... Matador is absolutely correct, I gave this guy a limit that I wasn't comfortable with....  Believe it or not, I am still makeing enough money to live, and pay this guy each week.... I am not quite sure what I am going to do yet....I will post his plays over in the NFL forum on Sunday....

 

 
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Posted: #44
Quote Originally Posted by wonwiththehook:

You're in the game now, the only way to get your money back is to keep taking his plays. Don't lay them off, I doubt he is experienced just by looking at some of the plays you showed us.Ride it out man !


you're not in the game now.

take your ass chewing and move on.
consider it lesson learned and concentrate on your own action. dude is obviously a square(who's uncle is prolly a DA) who is obviously gonna owe you 20k some weekend in november.

then your gonna have to decide whether you're in the game.
 
Covers Rehab
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Posted: #45
Guys definitely just hot.  I mean he may break even or even make a little here and there, but he wont win this much and probably not an amount that would effect you very often. (most likely.)
I have the same situation.  I would never hold more then what my bankroll could pay.  Its been just about 2 years with a couple of these guys and they each win about 1 month out of every 5-6.
 
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Posted: #46
male escort, trust me.  shoot me an email.  i'll help you out.
 
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Posted: #47
How do you make sure losing players pay you when they lose?
 
I use to do quite a bit of booking back in my early college days. And even though most players are losing players, there is always one or two that'll come up to you with "exceptional financial situations". I mean why gamble if you can't pay? It only takes one player to stiff you in order for you to lose your edge.
 
I never feel sympathy for these kind of people. He thought he was going to take my money, by betting without having money in hs pockets. And picture this:
 
He wins, I pay him $700. He loses $400 the next week, I ask him to pay me before I can take any more of his action. He begs me and insists on me taking his play, like a 3-year old and wouldn't take no for an answer until my phone runs out of battery and his 300 lbs wife comes out yelling at him. He ends the calls with "If you can take this parlay for me, you're gonna have to give me more time to pay you." And that was the last I heard from him.
 
Here is the worst part: I lose my money, I lose a client (REALLY square money) and I lose a friend.
 
What a box! He had no money and he thought he was going to pay me with my own fucking money.
 
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Posted: #48
shit happens every week.
 
Prospect
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Posted: #49
If you only have a few players and you're allowing one guy to play 2 dimes a game- your nuts.  There are about 7 or 8 scenarios of a 2 dime player.  Most of them have you, the small time book, ending up on the ass end.  Cut his limit down.He could roll you for 20-30k no problem.  If he loses that, he will probably stiff you, and I can guarantee that there isn't sh!t you could do about it- you wouldn't be asking advice on here if you could.  Not trying to be a prick, just my advice.  Cap him @ a nickel a play- he'll lose and you can survive his hot streaks w/out staining your britches
 
 
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Posted: #50
I guess he's really not much of a friend if your trying to bury him.
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