March Madness is always an appropriate time to discuss the intricacies of running a successful sports book, especially when the world famous Bookie Handbook has been mentioned in previous Bo Hogan lifestyle Consulting blogs, which are read by literally millions of people a day… If you are a casual gambler, read no further. This article is not intended for you and you shouldn’t be visiting this website anyways. If you enjoy seeing, and subsequently taking down a mark, then you will end this article with a substantially higher understanding of how to do so. Here a few pieces of advice for you motivated young gamblers out there…
Humble beginnings…
It’s time to start making some money. Don’t expect or even accept large bets at first. This is a classic rookie mistake. Because you haven’t read far enough into this article yet, you don’t know what to do when someone wins a bet you can’t pay! You might be tempted to actually pay them. You also are not seasoned enough in your abilities to properly manage your client list and daily bet logs. Having said all that, why do drug dealers give kids the first batch for free? Same reason you’ll take small bets (and hope they win by the way)! Inevitably they’ll ask for payment, at which time you will counter offer with a suggestion they will always love. “Sure, here’s your money, although if you want I can just put you on a book and then as you continue to win I can pay you in one large lump sum each month”. They will eat this up, because they will think they are going to win and images of receiving large checks each month will flash across their idiotic and gullible minds. This will very likely be the last time they ever have reason to expect a payment from you, and will also (unbeknownst to them) be the start of a very dark time in their lives as they continue to escalate bet size to play catch up…
Yes, I can
That’s the answer to the question you will eventually be asked… “Can you take this action?” Here’s the secret, doesn’t matter if you can or not! More than likely, it won’t matter because they will lose, they usually do. If they win, it will inspire confidence that they don’t deserve and they’ll bet more the next time and lose and you’re back in the black. Over time, this pattern will always lead to good things for you and very, very bad things for them. If they win and want to then immediately cash out, that’s a different story. You will probably have to rough them up, or leave town for a while. They’ve probably paid you enough by now for a nice vacation anyways.
Psychologicalism…
This is a real word used to describe your eventual ability to make people do stupid things, like make a bet with you instead of a website. A good example would be dropping hints at a great betting opportunity, like “Man, Duke is going to KILL Texas. I can’t believe that line is so low…” Then, when they ask what the line is, you take the number of points Duke is favored by and double it, giving Texas twice the advantage they had before. The mere fact that they asked you what the line was means they didn’t know the answer anyways, so you could say whatever you want! Then maybe drop one more little piece of bait like “Damn, I shouldn’t have said that in front of you… I guess you can still bet if you want though”. Now simply look upset with yourself for the gambling advice you’ve just handed out, accept the bet, and collect your money.
Negotiations…
This last tip is not for the newcomer and may apply more to the making, as opposed to taking of bets… Only seasoned professionals like Tom Hammer and myself should attempt it. You must be armed with numerous stats (real or fake, doesn’t matter unless they can prove otherwise), an argumentative nature, and most importantly a goal bet. If you know, for example, that Roger Federer is a 2:1 favorite to be the 2009 Wimbledon champion, why not see if you can get 4:1?? Your argument… “2:1 is ridiculous!!! (be emphatic by yelling and hitting something) Federer is injured, hasn’t been playing well lately, has an ugly girlfriend, just flew back from Dubai on the red eye, and can’t beat Nadal! Come on man… (Attempt to receive sympathy at this point) I need 4:1 or I can’t do it”. The gambler at this point is forced to make a decision. Because you said you “can’t” do it, it’s either give you 4:1, or don’t bet. Gambling is addictive; the thought of not betting is more than likely not an option for the person you’re negotiating with. You win (unless Federer loses, in which case your points from the argument all look valid and you have better negotiating ground next time).
Other quick hits:
· No websites or business cards. What you’re doing is Illegal, dummy
· Accept bets on everything… Reality TV, natural disasters, elections, etc…
· Always claim you don’t keep any of the clients personal information
· Always keep the clients personal information
· Have at least one friend who’s willing to claim you have mafia connections
· Don’t worry about getting the money up front… No one will make huge ridiculous bets if they have to pay for it in advance!
· Go to Las Vegas a lot. This isn’t necessary for being a good bookie, but I don’t trust anyone who doesn’t see why this is a good idea…
Penned by:
Sam Rothstein Jr.
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