Starting a sportsbook?

**MadCapper** · 03-08-08, 09:09 PM

Easier to to become a local bookie.

Go to any university!

**The HG** · 03-08-08, 09:39 PM

Originally posted by MadCapper

Easier to to become a local bookie.

Go to any university!

I knew some niggas at Columbia Law School back in NYC that was doing that sh*t, they got busted and it was a big scandal. They got off of course, cause they Columbia Law School niggas, but it just go to show how risky it can be.

**BettingProphets** · 03-08-08, 10:04 PM

need at least a million and thats if you are having nickle limits

**INVEGA MAN** · 03-09-08, 12:13 AM

You start off by keeping the small bets and all the parlays you can get. Lay off the big bets and build your bank untill you can book it all. Make sure you have a few guys you can lay off to and maybe you can middle a few bets. Don't hold anything you can't cover.

**mmarino** · 03-09-08, 01:01 AM

Yea, I'd say you'd just have to be selective in the bets you take and your limits and that would then determine how much capital you'd need.

**purecarnagge** · 03-09-08, 01:08 AM

was just throwing it out there. I wouldn't want to be a local bookie. I'm just wondering what the internet companies most people deal with the bare bones MIN startup costs are...

**mmarino** · 03-09-08, 01:16 AM

Internet offshore companies have a much higher start-up than a local bookie. First, the cost to run a legitimate business. Land, workers, technology, IT, CS, web designer, web developer, etc etc.

**purecarnagge** · 03-09-08, 01:31 AM

Originally posted by mmarino

Internet offshore companies have a much higher start-up than a local bookie. First, the cost to run a legitimate business. Land, workers, technology, IT, CS, web designer, web developer, etc etc.

Thank You Capt Obvious....Local book isn't even part of the question here... I don't know where you guys got this local book stuff at... The problem with that is you guys don't think big and you'll get in trouble over stupid crap, for taking nickel bets?

You guys are funny. Who would start a local book? Thats how you get in trouble these days... There is absolutely no need for it. More Risk than Reward...

Why not just think big. You have to think bigger if you want to have bigger succes and run a bigger company or have a bigger position/title. Do it right, where its legal and take legal bets and make ALOT of legal money...

**Doug** · 03-09-08, 01:34 AM

It's a tough gig. If you go full juice, then why should I play at your book instead of Greek or CRIS ?

Low juice has lower profits, then you compete with 5D and Matchbook.

How are going to get players, bonuses ? You'll lose money for years to overhead before you gain trust. You'll have to advertise at RX, EOG, or somewhere

Less players now, and way too many books. How about a check processor, ** and ** receivers ?

You need something to offer that other books don't have already, most everything has been tried.

The only stand alone book I can think of that has made a go of it in recent years is Beted, and I wouldn't touch them.

There is little room for a new book, even if you had mad money like Mansion.

I think you have no chance, an exchange to compete with Matchbook might be better, but several have failed at that.

A new book just isn't needed, nobody will trust you over established books, as too many new books have failed in the last few years.

What can you do better than 5Dimes ?

**bookie** · 03-09-08, 10:19 AM

snap snap snap for what Doug said.

If you have a business plan that gives you a pre-established group of bettors who will deposit without solicitation, then you have a glimmer of hope. If you have to bear account acquisition costs, the market is too saturated for new kids on the block unless you have an compelling answer to Doug's last question.

**SBR Lou** · 03-09-08, 10:24 AM

Originally posted by Doug

It's a tough gig. If you go full juice, then why should I play at your book instead of Greek or CRIS ?

Low juice has lower profits, then you compete with 5D and Matchbook.

How are going to get players, bonuses ? You'll lose money for years to overhead before you gain trust. You'll have to advertise at RX, EOG, or somewhere

Less players now, and way too many books. How about a check processor, ** and ** receivers ?

You need something to offer that other books don't have already, most everything has been tried.

The only stand alone book I can think of that has made a go of it in recent years is Beted, and I wouldn't touch them.

There is little room for a new book, even if you had mad money like Mansion.

I think you have no chance, an exchange to compete with Matchbook might be better, but several have failed at that.

A new book just isn't needed, nobody will trust you over established books, as too many new books have failed in the last few years.

What can you do better than 5Dimes ?

This is an excellent post.

**jjgold** · 03-09-08, 10:41 AM

Originally posted by purecarnagge

Just tossing this out there as a realistic thread (we'll see how long this stays serious..)

What would it take for startup cost to run a book? What would it take to get online and how long until you actually turn a profit? What is the margin of profit for the actual book?

Just sit back and think of all the betting you do? Why not be the man taking the bets?

I'm guessing 500k min...

All new books fail...100% failure rate

**purecarnagge** · 03-09-08, 11:43 AM

So your saying it would be better to buy out a book thats C graded or worse with an active customer base already and attempt to breath life into it?

JJ your so negative...

**Doug** · 03-09-08, 12:58 PM

I think the problem is a shrinking base of players. I really can't think of a successful operation that has started since Neteller left the USA. Bigjuicyodds is too new to count, and the -103 juice is too low without huge volume.

Buying a book is an interesting idea, but has anybody done this before, and made it into a better book ? It seems bigger books buy out the smaller ones.

Maybe 5 years ago you could have done it, but I don't see it now.

It's like opening a Mom and Pop hardware store near a Walmart. The ones that have been around for decades are struggling and I don't see any new ones opening.

A local probably has a better chance, but is of course illegal. I really think a lot of these books are just barely making it.

Good Luck with it. I think you'd need several million to start. The good big books have a huge advantage, and the lower books like sportsbook.com have the good URL's