Do bookie's lose money?

All true here. This is a the best analisys of the betting industry that i have ever read. You are absolutly right on this call. You just can win when your boarding pass (ticket) goes to the "Right Side" that Vegas Decide on that Contest. The Sad point of that is that trully Fans are Fading Down in their Hopes to come to see their teams winning when they sometimes just CANT goes and WIN against VEGAS call... Major Sports Events are Becoming like the WWE (World Wrestling Entertainment) Just to pay for the Big Fake Show!... What you lost in VEGAS, STAYS in VEGAS!.

Quote Originally Posted by boomersooner13:

good bookies don't lose money.  i have a couple of friends that run their own books.  one is great at it: he changes the lines depending on how much money is one one team, changes the juice, etc. he makes good money

the other keeps it the same all the time and loses a shit ton of money.  he'll stop for a couple of weeks or months, then come back to it 

Never changed lines and did great. look at this form and see how many people 'buy points". A .5 or 1 point change in a line is not going to cause a rush to the other side.

Quote Originally Posted by boomersooner13:

good bookies don't lose money.  i have a couple of friends that run their own books.  one is great at it: he changes the lines depending on how much money is one one team, changes the juice, etc. he makes good money

the other keeps it the same all the time and loses a shit ton of money.  he'll stop for a couple of weeks or months, then come back to it 

No local books that I did business with change juice. They have a 11-10 on games and 12-10 on O/U. Changing juice for a local book would be a nightmare. NO BOOK THAT I HAVE EVER KNOWN EVER LOST MONEY. PERIOD !!!!!!!!! Line changes are a small part of it. The GOOD MONEY comes from parlays and SUCKER GAMES !!!!!

Another cavet for a book to change lines. mGoing from 2.5-3.5 can lead to a nice little middle job. Books don't like that.

Bookies who know what they are doing keep a balanced book and will lay off the action if they have to in order to keep them balanced (bet an equal amount the other way so as not to get buried).

A professional book is saying, "Look, I've been there, I know I can't pick a winner, so pick your own loser and I'll book the action".

Maybe this will help you out:

Do Morons A}-Get Smarter

                 B}-Get Dumber

                 C}-Stay a Moron

                 D}-Become an Idiot

No way in hell a book can keep all lines balanced on all games. That is the biggest myth circulated about booking. Those that believe that have never been around a book and seen a weekend worth of action.

There will be losing weeks, but booking is a "cash cow", and I never bothered about balancing anything. I LIKED THE ONESIDED GAMES AS PLAYERS WILL LOSE MOST OF THESE.

Probably higher than 90%.

This type player is also a 'cash cow" !!!!

In Vegas every book has a formula that so many dollars worth of action  moves the spread one half a point in the other direction.

Smaller books lay off to larger books, etc.....

Granted books take a beating on some games but as been said in this thread over the long run the public loses 90% of the time.

People love betting football when the real money is in baseball. All you have to do is pick the winner and the dogs win often. But people would rather bet an exhibition football game than a baseball game.

Oh yeah PS, re: myths and being around books, I worked in casinos for many years. You?