Sports Betting As A Business!

Get Paid........Again, I am going to respond to you; perhaps, this time you can respond to my posting.

I know of several betting operations that "make a living" here in Vegas. There are two foundational basics that are necessary to make a profit (as a business) on sports betting.

First, you have to have the ability (and staff) to create a line that is superior to the lines that Vegas offers on their sports bets.

Second, you would need, at a minimum, $5-10 million in "seed money" in order to generate enough capital to run the business and pay your employees (runners, tech staff, etc).

So, if you believe that you and your buddies have the capability to achieve parts one and two of the basics....then, I am sure, Vegas would be happy to welcome you to the industry of sports betting.

PS....The last I heard, Billy Walters was selling his golf club, Bali Hai (next to The Four Seasons)...you could start with that also.

VegasGourmet I really enjoy reading your answers.  Honestly cannot say I knew any of this and frankly it is interesting to read.  Thanks for your contributions.

Couldn't agree more.

Thx guys....The one thing that we all have to remember BEFORE we respond to some posting is that the vast majority of posters are really clueless as to the industry of sports betting.

That does not mean that they are idiots or that their question is stupid....as your teachers used to say, "There is no stupid question, only stupid answers."....If we try to understand the nature of the question, we can, at the very least, be cordial and try to help somehow.

Whether or not the person posting the question understands the answer is another issue alltogether.

Mr. Bollox,

Hey ol man, you should be able to tell my level of intelligence from my ? and tell the way you think and the way we think (simple minds will never be wealthy) notice i didnt say rich, wealthy but no need for me to explain and a word of advice you should all ways think outside the box break even then why bother making the trip thats the difference between you and I will retire before the end of the year  and you will have to collect social security. Man if you only knew but i see im to deep and intelligent for you so miss me with any remarks i will not lower myself nor my standards to engage in conversation with someone who settles for mediocracy.

Paid...

You need to take it easy here....and correcting your spelling mistakes would add to your supposedly credibility also.

I did not misunderstand your question...My answer was correct, your interpretation of my answer was the problem.

I did not expect you to start a sportsbook, I don't think that the NGC is looking for anymore outsiders right now. My point, and to use current operations as the example...

YOU NEED TO HAVE THE COMPUTER AND INSIDER BACKGROUND TO CREATE YOUR OWN LINES, FIND THOSE LINES THAT OFFER YOU AN ADVANTAGE IN EXCESS OF 60%, AND A BANKROLL LARGE ENOUGH TO BET ON BOTH SIDES OF THE LINES IN ORDER TO ORCHESTRATE THE BETTING POOLS IN YOUR FAVOR. IN OTHER WORDS, YOU NEED THE $$$ TO MOVE THE LINE...AND IN EARLY BETTING, TYPICALLY, AWAY FROM WHERE YOU WANT THAT LINE TO END UP.

YOU NEED A TEAM OF RUNNERS WHO CAN, AT THE LAST SECOND, COORDINATE WITH HOME BASE AND PLACE MULTIPLE MULTI-DIME BETS UP AND DOWN THE STRIP TO TAKE ADVANTAGE OF YOUR EDGE.

IT ALSO WOULD BE A BIG HELP, ESPECIALLY IF YOU ARE LOOKING TO PLACE BETS IN EXCESS OF $50-100K ON A SINGLE GAME, TO HOOK UP WITH SOME LOCAL PERSONALITIES.....POKER PLAYERS, ENTERTAINERS, ETC ....WHO CAN MAKE THOSE BETS FOR YOU.

YOU CAN CHURN A BUNCH OF $5K BETS WITHOUT GETTING MUCH ATTENTION; BUT IF YOU ARE LOOKING FOR A BIGGER SCORE, YOU NEED CONNECTIONS HERE....

So, yes, I understood your initial question. I speak to, and have met, many people like you that believe they can hit that 60% number in order to make a good living.....in this town, you can count those doing it as a very small number.

I know Bollox.....his newly-created screen name is the clue here. But, in fairness to others that can understand, and would like to, at the least, have some background on this, I thought it best to contribute here.....and one more addition to the above explanation.

JUST TO BE AS CLEAR AS POSSIBLE...."SPORTS BETTING AS A BUSINESS" HAS LESS TO DO WITH PICKING WINNERS THAN IT HAS TO DO WITH MANIPULATION OF THE LINES. IF YOU ARE INCAPABLE OF UNDERSTANDING OR DOING THAT, THEN, YES...AS MR. BOLLOX SUGGESTS....IT IS NOT GOING TO WORK FOR YOU.

LOL maybe it is just me but that just seems I don't know WORK!  I guess that is why sportsbetting has always been a hobby to me.  BOL!