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Betting on credit...newbie question.

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Prospect
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Posted: #1
If I bet 100 on credit with my bookie, do I win 200 back when it's time to collect ? 100 for winning the bet and 100 for what I risked?

Or just 100 since I never actually paid before making the bet.
 
Legend
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Posted: #2
He is fronting you 100 to bet with so you collect 100.00, not 200.


 
MVP
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Posted: #3
Quote Originally Posted by Badaboomed:

If I bet 100 on credit with my bookie, do I win 200 back when it's time to collect ? 100 for winning the bet and 100 for what I risked?

Or just 100 since I never actually paid before making the bet.



you will owe him $200. 
 
Captain
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Posted: #4
Quote Originally Posted by VanDutch:




you will owe him $200. 

 
Prospect
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Posted: #5
lol thanks guys.
 
Prospect
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Posted: #6
lol thanks guys
 
All-Star
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Posted: #7
 
Veteran
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Posted: #8
We aren't the ones to be having this little talk.
 
Veteran
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Posted: #9
Best advice you will ever receive: don't start betting
 
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Posted: #10
Quote Originally Posted by Newtons Law:

Best advice you will ever receive: don't start betting
 
Legend
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Posted: #11
After 30-60 days of good history, ask for your deposit back. He doesn't give it up then close the accnt young feller. 
 
Veteran
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Posted: #12
i would rather bet my rent money then to deal with a local on credit.
 
Hall of Fame
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Posted: #13

please do not bet on credit,

 the juice for the extension of credit will eat any profit you could ever materialize. we deal in a gambling world of 50/50 you need to hit 55% of the time to amortize any profit. really gifted can hit in the high 60 percent of the time.

if you borrow at say 20% juice for a week loan... the juice will destroy any sense of winning anything.

substitute juice for interest if this word seem unpalatable.

 
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Posted: #14
Quote Originally Posted by Badaboomed:

If I bet 100 on credit with my bookie, do I win 200 back when it's time to collect ? 100 for winning the bet and 100 for what I risked?

Or just 100 since I never actually paid before making the bet.

You gotta bet 110 to win a 100 and he's not gonna charge you interest on the 110. 
 
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Posted: #15
Quote Originally Posted by hillardoh1:

i would rather bet my rent money then to deal with a local on credit.

I don't know what the hell you guys are talking about, nobody charges interest the money wagered. 

 Now if you can't pay up on Tuesday then maybe...
 
All-Star
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Posted: #16
Quote Originally Posted by Titan2:


I don't know what the hell you guys are talking about, nobody charges interest the money wagered. 

 Now if you can't pay up on Tuesday then maybe...
This.

What kind of bookie is juicing you from jump street?  
 
MVP
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Posted: #17
Credit Bet:
A bet accepted by a bookmaker where no cash has been deposited. Duh. 
 
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Posted: #18
Quote Originally Posted by VanDutch:

Credit Bet:
A bet accepted by a bookmaker where no cash has been deposited. Duh. 



 nobody charges interest on the wager..

My God, the ignorance here is unreal 
 
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Posted: #19
And who deposits money with a bookmaker?

 
MVP
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Posted: #20
Quote Originally Posted by Titan2:




 nobody charges interest on the wager..

My God, the ignorance here is unreal 


 No Sht Einstein 
 
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Posted: #21
Quote Originally Posted by Badaboomed:

If I bet 100 on credit with my bookie, do I win 200 back when it's time to collect ? 100 for winning the bet and 100 for what I risked?

Or just 100 since I never actually paid before making the bet.


Don't listen to some of these "guys", it sounds like they were literally born yesterday. You call the book  and make a 100 dollar bet.  On Tuesday you'll meet him wherever he meets up to pay and collect, usually a bar. If you lose your bet you give him a $110, if you win he gives you $100.  

You don't make a deposit before you bet,  lol and that $10 is how he makes his money- it's not interest, he's not loaning you money. 


 
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Posted: #22
always post-up....credit can be dangerous
 
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Posted: #23
Gamble to entertain yourself, not to buy a house. You will always be buying a bookie his house before you ever buy your own.

Credit means he fronts 1000. End of week the balance is 1400. You get 400 and he gets his 1000 back. Same scenario week to week. Good luck, you will need it!
 
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Posted: #24
Playing on credit doesn't work well with most gamblers brains. In general, put your money up front and play it however you want.
 
 
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Posted: #25
Quote Originally Posted by gofish3:

Playing on credit doesn't work well with most gamblers brains. In general, put your money up front and play it however you want.

The Bookie has a lot of customers and he only wants to see you for a minute, once a week on Tuesdays- You don't go to his house on Friday night to give him $100 so you can make a $100 bet and be all square if it losses


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