[ShowMeDaMoney]

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]

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

[ShowMeDaMoney]

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]

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

[ShowMeDaMoney]

Anyone use PPH systems? Which one do you use?

[ShowMeDaMoney]

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?

[pico]

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

[ShowMeDaMoney]

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!

[pico]

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

[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?

[Arnold]

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]

No small time books go to jail.

[twitchy]

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 shit 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

[pico]

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]

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]

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]

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

11-7 Texas =)

[pico]

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]

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.

[twitchy]

Originally Posted by cobra_king

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.

WORD... totally agree

[Dark Horse]

Are you in high school or something? Judging from your capital and projected client base it sounds as if you think this might be a good idea, but you have absolutely no idea what it takes to run a good operation. If you're not sharp as a bookmaker you're asking for trouble. Not too hard to see you being 'forced' into bets bigger than you can take and lose them. It's a numbers game, and you don't have the numbers.

[tomcowley]

You have a huge risk of ruin with a $2500 roll and $100 bets. You're close to your kelly stake against pure coinflippers (at +110, and you're over it for baseball if you deal tighter lines). God help you if people 1) bet the same game, 2) catch you with a bad number, or 3) are better than a flip.

[bigboydan]

$2,500 is not enough to start booking bets at all. I believe SBRJohn made a post a while back about a lot new post up books start with as little as $5,000 or less at time. He also went on to mention that every single one of them failed.

Now even though you would want to go the local route and hand pick your clients from a bar, country club, OTB, ect, ect. That does not always mean that you will be paid and in the clear sorta speak, because you will always have problems arise in some type of fashion in that department.

It's non-stop trying to keep up with the line moves and finding a good out to layoff your unwanted action, and have a good size bankroll to offset the the money moving between the weekly collections and or settlement figures.

As far as handling the phones go. I thats something that could be a real problem, because it's extremely time consuming unless you have a hard set closing time implemented from the start. I mean you could use a PPH place like Eagle Data Processing or autobookie or something like that, but thats something that would be something you need to explore yourself.

Good luck if you decide to go this route sir.

[ShowMeDaMoney]

We have set up a collect or pay up number of 250 for each of my friends. They aren't huge gamblers, I'm doing this for fun.

I said I had 2.5K to start, and then any extra income I make from work which sometimes is as much as a thousand a month. Having 10-20 pay outs ready to rock and roll while people are betting shouldn't get me into too much trouble.

As of right now, the book is killin it but of course these things swing back and fourth.

[moses millsap]

2500 is way too small. Even for 10 clients, I would want at least 50-100k to be able to handle the inevitable variance and swings, some players do go on upswings.

I don't trust PPH lines if they don't move fast enough, because you can get buried if you have a sharp on your sheet who knows what they are doing.

[Bullajami]

Originally Posted by ShowMeDaMoney

I would figure 2500 would be a decent roll to start up with?

The people I associate with would likely be making 50-200 dollar max wagers...

You're really gonna open your own booking operation with 12.5 betting units?

I suspect you will enter the rating guide here at F.

[topgame85]

For ten clients PPH is not even necessary, and $2500 bucks is not even enough to bet let alone be a book, 10k minimum I mean if you know your players suck since they are your friends then take the action but you may find yourself in a prediciment

[flyingillini]

Originally Posted by durito

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

hahha

[Mr Fury]

Originally Posted by ShowMeDaMoney

Anyone use PPH systems? Which one do you use?

Not knocking PPH but if you are starting with $2500 bank roll
and 10 players at say a charge of $30 a head then you just
may need to look at this business model again.
They are better ways to do the biz.

[Thor4140]

Originally Posted by Bullajami

You're really gonna open your own booking operation with 12.5 betting units?

I suspect you will enter the rating guide here at F.

[crinkle]

Just because you take bets doesn't mean you make money. Sportsbooks make $$ because they have deep pockets and can afford getting beat for periods of time. The odds are almost always in the house favor but that's over the long haul. Anything can happen in the short term.

I know I wouldn't get involved in taking action from a handfull of people. I believe it's way too risky.

[flyingillini]

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.

What if a client owes you a lot and you start to press him really hard. What if you cross the line and he goes to the cops and sets you up with a wire. You are screwed then. It is not worth it in my opinion. I value my freedom. I love to bet but I won't risk it doing the book part of it.