when you bet for money - Printable Version
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when you bet for money - who - 12-07-2008
what is the ratio of points versus straight up?
when you bet for money - BIRD33 - 12-09-2008
I want to participate in your thread who I really do!I just don't get what the question is.
when you bet for money - Flumper Barflusterbutt - 12-09-2008
BIRD33 Wrote:I want to participate in your thread who I really do!I just don't get what the question is.
2nd. I have no idea what this question is.
when you bet for money - CT280 - 12-09-2008
10 for every 6. over/under, or "back" numbers pay 1 for every 3.
when you bet for money - who - 12-10-2008
Do you place more wagers on straight up bets or do you use a point spread
when you bet for money - BIRD33 - 12-10-2008
who Wrote:Do you place more wagers on straight up bets or do you use a point spread
Its hard to get a real bookie to take straight up bets.He's not trying to win any bets he's trying to get people to take both sides of the point spread as close to 50% on each side as possible so he can get the vig which is the 10% or so that he gets just for taking the bet.He's almost just in it for a processing fee and needs the balance on each side to pay the winners with the losers money.
when you bet for money - Paddy - 12-10-2008
99% of gambling in Ireland is straight up bets. Horses, soccer etc. I still haven't figured out spread betting. I understand the concept, it just doesn't appeal to me.
when you bet for money - BIRD33 - 12-10-2008
Paddy Wrote:99% of gambling in Ireland is straight up bets. Horses, soccer etc. I still haven't figured out spread betting. I understand the concept, it just doesn't appeal to me.
How do you do a straight up bet on horse racing?There has to be odds involved.
Soccer makes sense since you can't really do a point spread.
Point spreads are the only way to make money.Straight up bets would pay shit for football.
when you bet for money - Paddy - 12-10-2008
BIRD33 Wrote:How do you do a straight up bet on horse racing?There has to be odds involved.
You're right, I took straight up to mean anything other than betting against the spread.
I think betting on soccer in Ireland is the equivalent of the betting the money line here.
when you bet for money - Flumper Barflusterbutt - 12-10-2008
BIRD33 Wrote:Its hard to get a real bookie to take straight up bets.He's not trying to win any bets he's trying to get people to take both sides of the point spread as close to 50% on each side as possible so he can get the vig which is the 10% or so that he gets just for taking the bet.He's almost just in it for a processing fee and needs the balance on each side to pay the winners with the losers money.
the "vig". we call it the "juice".
Anyway, the way that I understand how most medium to big size local bookies, they tend to lay off their bets before games to balance them out so that they are only in for the juice.
When you go to Vegas, you see tons of guys hanging out in the sports books and the cell phones and phone booths are packed. I think a local bookie, say in Philadelphia, will take bets on games, and then if, for example, the Eagles are playing and he has $5,000 on the eagles to cover the spread and nothing on the other side of that bet, then he will call in a $5,000 bet (to some guy in Vegas at a sports book) against the Eagles to even his book. Then he will either break even or make $500.
when you bet for money - BIRD33 - 12-10-2008
If it pushed he would lose big.
when you bet for money - Flumper Barflusterbutt - 12-10-2008
BIRD33 Wrote:If it pushed he would lose big.
How so? On a push bet around here, the bet is off. No juice on a push bet. At least I don't think so. I haven't bet in a couple of years and can't remember the last one that was a push, but I think that its nothing either way.
when you bet for money - BIRD33 - 12-11-2008
Flumper Barflusterbutt Wrote:How so? On a push bet around here, the bet is off. No juice on a push bet. At least I don't think so. I haven't bet in a couple of years and can't remember the last one that was a push, but I think that its nothing either way.
I shouldnt say lose big but you wouldnt be breaking even after you lose the bet and the juice to the vegas bookie.
when you bet for money - Flumper Barflusterbutt - 12-11-2008
BIRD33 Wrote:I shouldnt say lose big but you wouldnt be breaking even after you lose the bet and the juice to the vegas bookie.
What? If the bet is a "push" then that means the favorite won by the exact spread. so neither side loses. The bookie wouldn't lose his bet in Vegas and the guys that bet with him wouldn't lose their bets to him.
when you bet for money - snarg - 12-11-2008
chill out, flump, tweety is playing the stupit card again
(wait til you see the lame wiggle that is coming)
when you bet for money - Flumper Barflusterbutt - 12-11-2008
BIRD33 Wrote:I shouldnt say lose big but you wouldnt be breaking even after you lose the bet and the juice to the vegas bookie.
But, where a bookie can really clean up, is by having a local favorite in a big game and pushing his odds away from the favorite knowing that he is going to get a ton of bets. And then laying off at better odds in Vegas. He can potentially win both bets.
Example. A philly bookie has the Eagles in the Super Bowl (stop laughing). And he puts them as a 6.5 point favorite. He has $25,000 in favor of Philly as it gets close to game time.
He calls in a $25,000 bet in Vegas (betting on Philly) where Philly is a 3 point favorite. Now, if Philly covers at 4, 5 or 6, then he wins both ways ($52,500) and if Philly covers +3 then he wins one way ($27,500). If Philly covers by more than 8 then he wins the juice one way. Other wise he breaks even.
when you bet for money - BIRD33 - 12-11-2008
Flumper Barflusterbutt Wrote:But, where a bookie can really clean up, is by having a local favorite in a big game and pushing his odds away from the favorite knowing that he is going to get a ton of bets. And then laying off at better odds in Vegas. He can potentially win both bets.
Example. A philly bookie has the Eagles in the Super Bowl (stop laughing). And he puts them as a 6.5 point favorite. He has $25,000 in favor of Philly as it gets close to game time.
He calls in a $25,000 bet in Vegas (betting on Philly) where Philly is a 3 point favorite. Now, if Philly covers at 4, 5 or 6, then he wins both ways ($52,500) and if Philly covers +3 then he wins one way ($27,500). If Philly covers by more than 8 then he wins the juice one way. Other wise he breaks even.
I know a few bookies and none of them lay money with other guys to break even.Not saying it wouldnt work but they all seem to just want the vig money and thats it.I don't think its as easy as you think to lay money in vegas from another state and collect on it.
when you bet for money - snarg - 12-11-2008
it's very easy, unbelievable easy
when you bet for money - BIRD33 - 12-11-2008
snarg Wrote:it's very easy, unbelievable easy
Know anyone who does it?
when you bet for money - Flumper Barflusterbutt - 12-11-2008
BIRD33 Wrote:I know a few bookies and none of them lay money with other guys to break even.Not saying it wouldnt work but they all seem to just want the vig money and thats it.I don't think its as easy as you think to lay money in vegas from another state and collect on it.
So what do they do when they have some game that is really lopsided on their books? Just gamble that in the long run they come out ahead? I mean, if I was booking bets, that's probably what I would do, because I wouldn't have the time to set up anything with someone in Vegas.
But, even a small local bookie could lay off bets with a bigger local bookie.