Creating Your Own Sportsbook.

[crew34]

In theory how much cash do you think you would need in order to start your own book? I would use a third-party service such as payperhead and only accept max bets up to $250 (eventually). Starting out maybe $100 max. I was thinking 5-10K would be a good starting point but unsure.

Also, does anyone know some strategies that books use to minimize risk? There was a term that is slipping my mind where books would use their own cash to bet the opposite or same side of a lopsided bet.

Thanks and looking forward to your responses

 

[rolandcorts]

It's called 'laying off'. My advice is do not do this. It's illegal and you also seem like a rookie. There are pros out there who will eat you alive and you won't realize it til it's too late.

 

[baseballboy702]

Too much risk

 

[Headsterx]

This sounds interesting. I get the advice of stay away from doing it but does anyone have any info for op?

 

[ks1986]

5k seems like a good roll to start with

 

[aikman.tr]

Even a $10 10teamer could bankrupt the book with only 5k in escrow

 

[rolandcorts]

5k seems like a good roll to start with

crew, ks is being sarcastic

 

[sportsbettor5]

In theory how much cash do you think you would need in order to start your own book? I would use a third-party service such as payperhead and only accept max bets up to $250 (eventually). Starting out maybe $100 max. I was thinking 5-10K would be a good starting point but unsure.

Also, does anyone know some strategies that books use to minimize risk? There was a term that is slipping my mind where books would use their own cash to bet the opposite or same side of a lopsided bet.

Thanks and looking forward to your responses

If you're intent on doing this, you must do tons of research and careful planning first. In particular, do not do this if you are based in the US. Even if you are based outside the US, the US federal government is likely to go after you under the Interstate Wire Act if you use the telecoms infrastructure of the US to take bets.

 

[petrix]

He can focus on players outside the US

 

[crew34]

Thanks, everyone for your replies. It does appear that the risks outweigh the rewards.

 

[willyjoe]

Well I think there is risk but there is also high reward on this, If you start like a local bookie and limit your customers to a min and max wager this can be done with 10K to start with. I've been working in sportsbooks in Costa Rica for a very long time and seen this happen to the point that the bookie creates a good reputable book

 

[rolandcorts]

Well I think there is risk but there is also high reward on this, If you start like a local bookie and limit your customers to a min and max wager this can be done with 10K to start with. I've been working in sportsbooks in Costa Rica for a very long time and seen this happen to the point that the bookie creates a good reputable book

If you think you can start a book with a 10k bankroll, YIKES.

 

[willyjoe]

If you think you can start a book with a 10k bankroll, YIKES.

I mean if you start with a couple of guys you can

 

[rolandcorts]

I mean if you start with a couple of guys you can

Except 2 guys betting a few hundred a day will earn you $10 a day (which wouldnt even put a dent in your overhead). Good luck though

 

[hustledouble]

I mean if you start with a couple of guys you can

How many bites on the line for you so far dog

 

[willyjoe]

How many bites on the line for you so far dog

Not much so far, its been good

 

[jjgold]

What happens when guys don’t pay??

happens all the time

 

[rolandcorts]

What happens when guys don’t pay??

happens all the time

They get blackmarked

 

[hustledouble]

What happens when guys don’t pay??

happens all the time

You show em the guns just like in your profile pic jj