Yes bookies are illegal but there are tons of bookies in every city. I never had a bookie before but wanted to always ask these questions about bookies.
I know there are some small time bookies and the big time bookies. Small meaning they probably take bets only up to a certain amount and probably have at max ?? players? Is someone who takes place but only have 10 people who bet with their bookie still considered a bookie if their max bet is $50? I wouldn't even call that a legit bookie if that is the case. Would i be wrong here? What is the minimum bet usually to place with a bookie? I recalled many years ago i had a friend who bet with a bookie and the minimum he took a bet was $50 and not sure what the maximum was. But i know that my friends bookie was a small timer because the people who he placed bets with usually bet at most $200 a game.
But how many clients do most bookies normally have? Would those bookies that take bigger bets have say 300 plus clients who call them for nfl, nba bets? What is the largest bet a bookie takes assuming they know you will pay based on your history? Are there bookies that take $50,000 bets on games? I know bookies try to get their clients to get more people to see if they want to bet etc.
I know bookies make money by the vig. They are hoping for equal action on both sides. If let say they take $3000 in total bets on Atlanta -5 and $3000 in total bets on Buffalo +5 for $3000 in the football game, which is for the bookie get +110 odds, they are going to profit $300 no matter who wins and assuming no one stiffs him.
And if they have so much action on one side, they would need a certain team to win. But assuming they have too much action on one game in one side. Say $5000 total bets on Atlanta and only $1000 on Buffalo and they need Buffalo, do bookies go on say Matchbook and just bet Buffalo? I mean for the NFL there is going to be tons of liquidity on gameday and the odds you get on matchbook is the best. They can just bet $5000 on Buffalo and get +102 odds maybe and guarantee a profit. If they use a reduced juice online book, they can get -105 but only for maximum $500 usually but i know they can make these bets a few times after waiting a few minutes. But would doing this be a waste then? I mean you are going to profit this way as its scalping.
Also, is it true most bookies have a normal job and this is a side job? I heard someone mentioned this before. How do bookies spend their money since this money is illegally obtained? I am assuming just spend it slowly since they cannot pay taxes on it? Or can they but they call it other income and from gambling? Curious because we know there are many drug dealers who obtain money illegally selling drugs and they have much money on hand. I would assume those guys don't report anything?
Would you say the majority of bookies win money more often? I heard about 95 percent of bettors lose so how much percent do bookies win? I'm talking about the bookies from the bigger american cities like Miami, New York, Jersey, Philadelphia, Los Angeles, Las Vegas etc. I don't even think there are bookies in places like Idaho but i'm probably wrong
I know there are some small time bookies and the big time bookies. Small meaning they probably take bets only up to a certain amount and probably have at max ?? players? Is someone who takes place but only have 10 people who bet with their bookie still considered a bookie if their max bet is $50? I wouldn't even call that a legit bookie if that is the case. Would i be wrong here? What is the minimum bet usually to place with a bookie? I recalled many years ago i had a friend who bet with a bookie and the minimum he took a bet was $50 and not sure what the maximum was. But i know that my friends bookie was a small timer because the people who he placed bets with usually bet at most $200 a game.
But how many clients do most bookies normally have? Would those bookies that take bigger bets have say 300 plus clients who call them for nfl, nba bets? What is the largest bet a bookie takes assuming they know you will pay based on your history? Are there bookies that take $50,000 bets on games? I know bookies try to get their clients to get more people to see if they want to bet etc.
I know bookies make money by the vig. They are hoping for equal action on both sides. If let say they take $3000 in total bets on Atlanta -5 and $3000 in total bets on Buffalo +5 for $3000 in the football game, which is for the bookie get +110 odds, they are going to profit $300 no matter who wins and assuming no one stiffs him.
And if they have so much action on one side, they would need a certain team to win. But assuming they have too much action on one game in one side. Say $5000 total bets on Atlanta and only $1000 on Buffalo and they need Buffalo, do bookies go on say Matchbook and just bet Buffalo? I mean for the NFL there is going to be tons of liquidity on gameday and the odds you get on matchbook is the best. They can just bet $5000 on Buffalo and get +102 odds maybe and guarantee a profit. If they use a reduced juice online book, they can get -105 but only for maximum $500 usually but i know they can make these bets a few times after waiting a few minutes. But would doing this be a waste then? I mean you are going to profit this way as its scalping.
Also, is it true most bookies have a normal job and this is a side job? I heard someone mentioned this before. How do bookies spend their money since this money is illegally obtained? I am assuming just spend it slowly since they cannot pay taxes on it? Or can they but they call it other income and from gambling? Curious because we know there are many drug dealers who obtain money illegally selling drugs and they have much money on hand. I would assume those guys don't report anything?
Would you say the majority of bookies win money more often? I heard about 95 percent of bettors lose so how much percent do bookies win? I'm talking about the bookies from the bigger american cities like Miami, New York, Jersey, Philadelphia, Los Angeles, Las Vegas etc. I don't even think there are bookies in places like Idaho but i'm probably wrong