Buying and selling betting slips.

[SteveRyan]

Have you even known of anyone to do this?

Basically what happens is, someone wants to place a $100.00 bet on an NFL team or something. They PayPal you the $100.00 + a $5.00 fee. You then go down to a Vegas sports book and buy the slip.

If the bet wins, you mail it to the guy. He then mails it to the Vegas sportsbook where it was purchased and they mail him the winnings.

There would need to be some way of insuring the transaction so that the buyer has no fear of getting ripped off.

There used to be a website called slipjockey. It only lasted for a couple years, but you could sell your slips to people and I guess it was totally legal.

Thoughts?

[Itsamazing777]

Have you even known of anyone to do this?

Basically what happens is, someone wants to place a $100.00 bet on an NFL team or something. They PayPal you the $100.00 + a $5.00 fee. You then go down to a Vegas sports book and buy the slip.

If the bet wins, you mail it to the guy. He then mails it to the Vegas sportsbook where it was purchased and they mail him the winnings.

There would need to be some way of insuring the transaction so that the buyer has no fear of getting ripped off.

There used to be a website called slipjockey. It only lasted for a couple years, but you could sell your slips to people and I guess it was totally legal.

Thoughts?

Or just deposit at the online book of your choice.....

[SteveRyan]

Or just deposit at the online book of your choice.....

The problem with online books is that they can shut down and walk away with your cash at any time and there isn't much you can do about it. Also, those lines are often over-juiced.

Maybe instead of mailing the slip it could just be cashed and then have the money transferred back to the buyer via PayPal.

[Big Bear]

sounds interesting.

[packerd_00]

Thats a new one me,how did you hear about this.

[SteveRyan]

sounds interesting.

I believe it is also legal because the ticket is being purchased in Vegas and being paid in Vegas. What happens with the money is sorta irrelevant I think. As far as I know, it's not against the law for someone from outside of Vegas to send you money and place a sports bet for them. Why can't you charge a $5 fee for it?

The main downside is that there is a lot of trust involved here on behalf of the buyer. He would have to trust that the payment will actually be used to place a bet and that the winnings will actually get sent back to him.

If I was to do something like this, the minimum wager would have to be $50. After receiving a PayPal payment of $55, I would place the bet and email the purchaser a picture of the ticket. If it wins, I deposit the money in PayPal and transfer it to the winner.

Why isn't anyone doing this already? Obviously, it would be more lucrative if it was based on a percentage of the win, but then the idea isn't as attractive to the buyer.

Thats a new one me,how did you hear about this.

I was on the internet doing some research on arbitrage and stumbled across an old website called slipjockey. It was a place for people to sell their slips. That way, there was an alternative to winning or losing. You could sell your slip and at least get something out of it if you decided you no longer liked the bet. If someone else liked it, they could buy it.

What was neat about it was that they had cooperation from the books! The book would actually pay the guy who bought the slip. For some reason the concept did not catch on.

[tto827]

Pretty sure it is illegal to have/be a runner.

Next, offshore has lower juice then you'll find anywhere.

Third, all you're doing by paying the guy is in effect paying EVEN MORE juice, no way to make it work safely and effectively for all parties.

[James D]

Pretty sure it is illegal to have/be a runner.

Next, offshore has lower juice then you'll find anywhere.

Third, all you're doing by paying the guy is in effect paying EVEN MORE juice, no way to make it work safely and effectively for all parties.

Agree with TTO. Even if you are betting NFL sides and other things where juice is the same trust is the key issue.

[SteveRyan]

I did a bit of digging around and it turns out that in Nevada it is indeed illegal to place a bet for someone other than yourself. It's called "Messenger betting."

[chipper]

I was always told that it was illegal to act as a runner for someone outside of Nevada. I honestly don't know if he was right or wrong though.

[greenhippo]

Fukk I want to go back to Vegas.

[SteveRyan]

Fukk I want to go back to Vegas.

A friend of mine moved to Miami a few months ago. That was all it took for him to decide to come back to Vegas. He was paying for everything in Miami (Parking, laundry, etc...). Everyone speaks Spanish and everything is expensive.

Packed up his shiit and hit the road a couple days ago. Back to Vegas baby!! I love it here. Everything is cheap and the town never sleeps. You can buy Jack Daniels at 4:00 am.

[SteveRyan]

I was always told that it was illegal to act as a runner for someone outside of Nevada. I honestly don't know if he was right or wrong though.

In Nevada it's against the law to place a sports bet for anyone other than yourself.

Here's an article about a guy who was "Messenger betting" for Billy Walters. He faced felony charges.

http://www.reviewjournal.com/news/crime-courts/messenger-betting-case-nets-probation-fine-plea-deal