bookmaking gambling

[joeycigars]

Gambling , Prostitution, Pay day loans , 24 hour Casinos serving Alcohol all night , Opiates and Benzos , Sick porno , All legal now , The Goverment is the new mafia , RICO is there to defend the Govt against competition,....I even heard the FEDS control some unions .....just saying I aint saying

[Little_Al1991]

Bookmaking and loansharking is the mob’s bread and butter.Bookmaking being legalised is not a good thing for the mob because they will lose money from this.

[aray22]

Bookmaking and loansharking is the mob’s bread and butter.Bookmaking being legalised is not a good thing for the mob because they will lose money from this.

It will definitely hurt them but what the mob still has going for them is legalized sports books don't let you bet on credit/get loans and they aren't making you pay taxes on winnings.

[Ryan98366]

has legalized sportsbook put a serious dent into bookmakers? also is there still a numbers racket in nyc ?

My friend is a real estate broker. He bets big money. He NEVER bets with a sports book. He bets $10,000 to $50,000 a weekend. He said there are two reasons why he uses a bookie: #1 he gets to bet on credit without having to front the money. #2 He pays no taxes on his winnings.

[Wiseguy]

Below is an excerpt from an interesting article that suggests that, at least for many companies, legalized sports betting may not be such an easy windfall in the long term...



“This is what happened in Atlantic City for years. They gave these promotions, so they couldn’t make any money,” he explained. Eventually the introductory offers had to end, and then multiple casinos closed, including ones Donald T,rump owned at various times. “It’s going to be the same with this,” Mr. Woinski said, referring to digital sports betting.

That doesn’t mean online sports betting won’t work as a business long-term, it’s just that many companies likely won’t survive. Mr. Woinski said those that do are likely to be the ones that also offer online casino gambling, such as poker and blackjack. “Online gambling is a completely different animal. That’s where you make money,” he said.

Only a handful of states have legalized online gambling such as poker or blackjack, and that has made it even harder for online betting companies to make money so far. “Sports is a very low-margin product,” said Mr. Burns from the Canadian Gaming Association. Profit margins are often just 5 per cent to 6 per cent. “Sports books can lose money on a weekend if things don’t go well.”

Online casinos, meanwhile, can be quite profitable. There’s a reason for the saying: The house always wins. Already, some U.S. companies are trying to venture into this market to subsidize their sports betting losses, with DraftKings buying Golden Nugget Online Gaming Inc., an online platform in New Jersey and Michigan, last year.

“Sports betting should act as the top of funnel acquisition tool to bring users onto the platform,” suggests Mr. Fishman, the analyst at MoffetNathanson. The real money can then be made by cross-selling higher-margin online casino services.


The billion-dollar question for Ontario sports betting: Are profits possible – or is it the next cannabis bust?
https://www.theglobeandmail.com/busines ... e-profits/

[TommyNoto]

Interesting article that aligns with what I have heard about off shore books growing to big volumes and little threat of arrest, in NJ at least

https://www.cnbc.com/amp/2022/07/07/cas ... tors-.html

[Tonyd621]

Legalalized betting has been here in Jersey for three years now and I have yet to use a legal Sportsbook, not once.

I am a heavy sports better, usually betting 1-3 dimes a game everyday , year round. I have been with the same guy since I was a young adult, we have a solid relationship and understanding.

I am a degenerate, always need the action!! Especially during Football season.

LCN Sportsbooks aren’t going anywhere in my lifetime, I’m with Cheech on this one.

Marijuana is now legal in Jersey too and the LCN weed rings won’t be going anywhere either as legal weed is heavily taxed and sometimes double the price on the black market.

They’re always going to find a way to make money here in Jersey and it’s ingrained in our culture, we are one of the most heavily Italian-American states in the USA.

-Dante

I seond this, during college basketball season the local pizza parlor guy and I were laughing about how many different Mississippi college basketballs teams we can bet on in one day... legalized betting 1 doesn't have the comardie 2 you don't.need to send in your id and banking info to your your local 3 your local doesn't have 1800 G.A. ads and notifications of state limitation deposits/wager limits/etc 4 if you can't find a local your a bum 5 you can't bet on teams in the state your in (example I live in Conn. I can't bet on any teams based in this state... say if Uconn is in final 4- I can't and etc. I mean conn sucks for sports teams but if you live in Texas and Florida and legalization has that same kinda deal which I imagine it does it sucks. 6 if your a degenerate and you bet w/ local they're may be some perks for like carry overs certain breaks etc if your a degenerate on a legal site you get G.A. labels.
J could go on

[Johnny1and1]

PPH has made bookmarking in the US easier. That’s been the game changer. When I was getting out, everyone was transitioning to PPH. The other thing is the legal books have made it easier to risk manage a private bookmaking operation. I would suggest legal sportsbook has had very little impact of better run illegal books. It’s really made it easier in addition to the other benefits it offers it’s client base.

[Uforeality]

I'm with the guys who bet with their local bookie. I've got a really good guy I bet with. No bullshit and cash payouts when I sometimes win. Plus, lol, I'm investing in the local economy.

[Lefty Ruggiero]

I doubt the legalized betting has touched their base. I think the legalized apps attract casual bettors who wouldn't otherwise gamble at all. The people who have always used bookies will simply continue to do so. My ex's stepdad is a bookie - legalized gambling hasn't done a thing to his business.

[Tonyd621]

PPH has made bookmarking in the US easier. That’s been the game changer. When I was getting out, everyone was transitioning to PPH. The other thing is the legal books have made it easier to risk manage a private bookmaking operation. I would suggest legal sportsbook has had very little impact of better run illegal books. It’s really made it easier in addition to the other benefits it offers it’s client base.

Paying for those customer service reps in Costa Rica is key

[Johnny1and1]

PPH has made bookmarking in the US easier. That’s been the game changer. When I was getting out, everyone was transitioning to PPH. The other thing is the legal books have made it easier to risk manage a private bookmaking operation. I would suggest legal sportsbook has had very little impact of better run illegal books. It’s really made it easier in addition to the other benefits it offers it’s client base.

Paying for those customer service reps in Costa Rica is key

True. It’s an oversimplification, but it’s a true statement. The post isn’t intended to be disrespectful. Paying for back office allows one to set their own line. Extend credit and settlement terms, and takes away a lot of expenses. It’s easier to lay off or risk manage to guaranty profit. Risk mange client base also. There are some obvious safety issues, but there are ways around that as well, which is more labor intensive.

PPH is significantly more revolutionary than off shore betting for a domestic bookmaking operation. And there are ways to use it that still avoid law enforcement. I read stuff on here about getting paid online. That’s not the best method for obvious reasons. It depends on risk tolerance. You can pay off the locals, but you can’t really pay off the Feds. So if used correctly as record keeping and analytics, it’s still a burden for the Feds to prove. They almost need to catch you settling if that is still done the old fashioned way.

Quite a lot more to it than my post, but that’s an overview.

[Tonyd621]

PPH has made bookmarking in the US easier. That’s been the game changer. When I was getting out, everyone was transitioning to PPH. The other thing is the legal books have made it easier to risk manage a private bookmaking operation. I would suggest legal sportsbook has had very little impact of better run illegal books. It’s really made it easier in addition to the other benefits it offers it’s client base.

Paying for those customer service reps in Costa Rica is key

True. It’s an oversimplification, but it’s a true statement. The post isn’t intended to be disrespectful. Paying for back office allows one to set their own line. Extend credit and settlement terms, and takes away a lot of expenses. It’s easier to lay off or risk manage to guaranty profit. Risk mange client base also. There are some obvious safety issues, but there are ways around that as well, which is more labor intensive.

PPH is significantly more revolutionary than off shore betting for a domestic bookmaking operation. And there are ways to use it that still avoid law enforcement. I read stuff on here about getting paid online. That’s not the best method for obvious reasons. It depends on risk tolerance. You can pay off the locals, but you can’t really pay off the Feds. So if used correctly as record keeping and analytics, it’s still a burden for the Feds to prove. They almost need to catch you settling if that is still done the old fashioned way.

Quite a lot more to it than my post, but that’s an overview.

Why would the post be disrespectful?
Now, you can have 3 4 back up websites, easy-one gets shut down or loading too slow you go to the other url, same customer service and everything-seamless. More over, you usually pay per customer so you don't have alot of upfront costs because that fees pays for the service, back office, risk management etc, usually. Not to mention live betting and all that there. I can't imagine doing live betting by phone lol