rainbow said:Atleast 7 DIGITS.
wantitall4moi said:Book should NEVER go broke. How hard is that to understand?
I don't care what expectation is. You take that expectation out when you balance BEFORE hand.
Who among us when they see a game that is -110/100 somewhere and -125/+115 somwhere else isn't going to scalp that play? The only ones who won't do it are gamblers. You just said it yourselves, not many gamblers win. Long term or even short term.
The guys that win are doing just what I do, taking both sides and getting the best of the ODDS/HOLDS not a SPREAD.
As for the quote you guys are mentioning. Let 100 books take all the bets for every bettor in the world. No fringe books, no rogue books, simply let those books have to balance and take unlimited action for the billions of dollars that is bet every year in sports.
I will guarantee their numbers would be a lot less opinionated, and their holds would increase. While their volumes would increase, their exposure would also.
If they were truly bookmaking it would be a windfall, but since many are gambling, it would mean they would have to tighten up the way they did business. You surely wouldn't see some of the opening baseball numbers you see.
I totally get what you guys are saying, but you are still thinking as GAMBLERS. You have to think that you have no positive expectation.
In a vaccuum then books are supposed to make money no matter what. Whether due to opinion or simpley putting up a "bad" number sometimes it is impossible to balance action.
That is why I say, if the number of books was reduced, those "mistake" the books make would eventually break them.
The analogoy Shrink used. Bettors don't really lose, they just make mistakes. The more money you have the more mistakes you are allowed to make. But eventually you make your last mistake and you are broke.
:+clueless You must have miss your FLIGHT in JULY to COSTA RICA.THE SHRINK said:Time out for Gambling 101 Definitions...
COLD MONEY= money left in your jeans when it is snowing outside and you wake up hungover not realizing you had it or where it is...
HOT MONEY=money you always have a keen awareness of because it is always sunny, warm and en fuego for these people..
:+signs99-
Willy Loman said:Not many BMs concern themselves with writing balanced action. Pretty much a thing of the past. However you do need to know exactly how much you are willing to hold on any one descion. Than when you hit the #, move the line.
Pancho Sanza said:Want your posts give me a headache.:doh1
The General said:Hey guys, since we are here. Could a major book prosper by writing even money wagers on the major sports which were standard vig of 110 sides and totals in years past, IF they have the proper & large enough volume?
The General said:Thanks for the replies and hypothetically speaking IF 10 books came along and had what it took to do this, what affect would it have on line services?
JC said:Absolutely not.
More on all of this later.
But for now, let me leave you with this thought.
The definition of "gambling" is to wager at unfavorable odds. A properly run book is wagering at favorable odds, not gambling.
THE SHRINK said:Ok Rainbow,
I'll bite...
Please define COLD MONEY as I thought it was meant to be perceived as SQUARE MONEY...
THE SHRINK
THE SHRINK said:DRUNK,
I wish we could go back to those days for a different reason...
Back in the mid nineties, there were LOTS of sports books not hooked up to the DON BEST feed or for that matter, they weren't even aware of the INTERNET...
I was NEVER put on HOLD back then too often, but when they did, I'd hang up!
OH, those were the days of EASY :+money-8+
P.S.
If that's what COLD money means, then that SHEDS a WHOLE NEW MEANING and LIGHT to some of his...
Bot being a bookie, I had to GUESS...
I need to :+clueless some more now...
THE SHRINK