Starting a Book?

ShowMeDaMoney · 04-30-2008, 06:17 PM

A friend and I are considering starting up a small little book and get it going with about 10 clients going into the football season.

We are a bit reserved about the fact that most of our clients will be friends so we are considering telling people that we are just "working with someone" who lives up in the city. We would say this is my friend's Uncle who is known to be not the most fun guy to mess with.

Our problem is attracting clients...I know some friends who gamble but not a ton. I have about 2-3 people who would place bets.

I have another group of friends that would possibly want to place bets if I could offer them something their book doesn't. Perhaps a nickle line on every game?

We are also trying to figure out how to set limits to start out slow and work our roll up.

If most people are playing a bill a game, I would figure 2500 would be a decent roll to start up with?

How do you guys handle phone calsl as well? I can't be available at all hours of the day, so we were thinking of setting up an email system that triggers a text message to our cell phones. A confirmation email would then be sent back within 2 minutes.

durito · 04-30-2008, 06:22 PM

You want to start a sportsbook with $2,500?

ShowMeDaMoney · 04-30-2008, 06:31 PM

The people I associate with would likely be making 50-200 dollar max wagers. I meant I would have 2500 in disposable income, and also my salary that is not always needed immediately, which at times is a pretty high %

ChuteBoxe · 04-30-2008, 06:45 PM

$10,000+ is my recommendation, and that's assuming your customers are pretty dumb.

ShowMeDaMoney · 04-30-2008, 07:01 PM

Anyone use PPH systems? Which one do you use?

ShowMeDaMoney · 04-30-2008, 07:03 PM

I really don't see my customers going over $200-$300 dollar bets, especially at first... and if they are told they need to work their way up a bit slowly and establish some trust then 3-4K should be enough, but who knows?

picoman · 04-30-2008, 07:07 PM

can you take me as a client? my first wager 2.5k on kc bannister ml. you want to book it?

ShowMeDaMoney · 04-30-2008, 07:23 PM

This is not something that is being started immediately, and obviously I will be dealing with people I know, so no, sorry. Good luck if you do get the bet in though!

picoman · 04-30-2008, 08:21 PM

bookmaking is illegal in the US. it could land you in jail.

ShowMeDaMoney · 04-30-2008, 08:50 PM

who says I am in the United States? LOL, of course I am but if you are careful like anything else, they aren't looking for the small boys with 10 clients, are they?

Arnold · 04-30-2008, 09:28 PM

Quote:

Originally Posted by ShowMeDaMoney

who says I am in the United States? LOL, of course I am but if you are careful like anything else, they aren't looking for the small boys with 10 clients, are they?

Do you always plan to have 10 clients?

I think it's risky. Wouldn't want to end up in jail.

pokernut9999 · 04-30-2008, 09:29 PM

No small time books go to jail.

twitchy · 04-30-2008, 09:32 PM

u wont go to jail... only way they would throw u in jail is if your an actually bookie taking anyones bets.. if u have ppl you know.. 10 ppl they cant do

its like betting with friends.. ?? u wont go to jail dont listen to these ppl saying your gonna land in jail with 10 cleints that you KNOW

picoman · 04-30-2008, 09:44 PM

if they can get computer records or written records of booked bets, that'll land you in jail. the only reason you can stay clear of the law is to keep all the booked bets in your head...then you're untouchable.

twitchy · 04-30-2008, 09:56 PM

Quote:

Originally Posted by picoman

if they can get computer records or written records of booked bets, that'll land you in jail. the only reason you can stay clear of the law is to keep all the booked bets in your head...then you're untouchable.

yes if u have tons of ppl... but like i said if he has 10 clients.. he wont land in jail haha.... its a friendly betting wager all you have to say... I WRITE DOWN MY BETS WITH FRIENDS ON MY COMPUTER... WILL I GO TO JAIL HELL NO...

ShowMeDaMoney · 04-30-2008, 10:12 PM

Picoman... thank you for the advice I know some people do get busted.

That said, what if all my records are on a website and stored in HDs that are in Costa Rica? Plenty of PPH companies make it so you don't have to have physical records ever!

I dont know if that exactly protects you from the law, but I would imagine it'd make prosecution a bit tougher.

You aren't technically giving anyone a line, taking any bets, or anything like that. You are settling disputes between a call center and a client.

Hmm?

ShowMeDaMoney · 04-30-2008, 10:14 PM

P.S If I had taken that bet from you I'd be pretty happy right now!

11-7 Texas =)

picoman · 04-30-2008, 10:29 PM

the only thing you have to worry about is that if one of your friend snitched. otherwise, it is very hard to get busted. you never know when and who will get you busted.

for 10 people, you won't be making money at all.

cobra_king · 05-01-2008, 01:44 AM

You won't go to jail if you are booking for 10 or so people and they are betting a hundred here or there. Dice/Card games get busted all the time with thousands of dollars on the table and these guys only get fined which is probably what would happen to you. Though the question is whether you would have a 'criminal record' which could hinder future employment/travel out of country but i'd even highly doubt that would be the result. That said you absolutely have to have more than $2500 even if guys are betting a buck or two, as 3-4-5 guys all on the same game a day or two in a row that wins would bankrupt your little operation.