The Hall of Shame - Bookies Gone Bad

[Spartacus]

i really cant think of a way to make money off the karma bookie room, although i do hope once you make the hold em room it can turn a profit.
like i told you before i play poker at ultimate bet and people love to play poker.
i play almost exclusively with play chips there and ub gives your account 2000 play chips to start.
with time and good poker you can really build up your play chip account, mine is now at about 50 million.
they have a lot of bigger play tables at ub where the ante is 1000-2000 and the pots usually get up to about 75,000 every hand. in order to play these tables you need a lot of chips in your account.
and what some players would do after they got a good amount of chips is they would go sell them at ebay and you would be surprised how many people bought them. they would usually sell like 100,000 up to 1,000,000 at a time.
ub frowned on this and was able to stop people from doing it but they werent smart enough to make their own store at the ub site and have people buy play chips from them directly. why they dont do this is beyond me.
i think seeing this you may be able to get people to buy karma from your store in order to play at your tables if you are going to gamble with karma and not just make only real money tables. its at least something to think about

it's part of the attraction of the site
he can make money by neccesitating a bookmaker to buy karma to cover bets
as it is if "the field" wins in the nascar subway 500 at 35-1 I have two 1K bets to cover
-70000 K would put me in the red and then I need to buy karma
albeit though this outcome is unlikely

 

[swole]

I guess we can drop chase152's name on this thread. Kid's in red. Deep.

 

[will b huge]

This is a great post Hammy,

I'm learning more about bookmaking too. I'm a blackjack player after all.

We could build Juice into the system, but as you can imagine, there's a cost to all new features. We're working on a Poker Room, more things to buy in the Karma Store, and much more, but we do need to turn a profit from all this.

Can you think of ways we can make more money from the Karma Bookie? We've invested a lot in our new features and if we saw more return from them, we can further develop them.

ABSOLUTELY, You can make more money!!! Juice should be mandatory!!!!


ALL LOSSES simply add 10% to the bettors bet and he/she would owe this
ALL Wins are wins
ALL TIES are pushes---even money......

EVERYONE DOES 10% JUICE----All of the bettors out there (including me) will have to pay 10% more on losses......In reality, the house ALWAYS WINS in the LONG HAUL.....and the more ALL THE BETTORS have to pay up with karma, the MORE KARMA (IN THE LONG HAUL) THAT ALL OF THE BETTORS WILL BE BUYING!!!! (During football season, I will be wagering SO MUCH KARMA---(I will probably end up supporting the site for an entire month just by myself with all of my losses---LOL)



Simple Economics (and former "karma" bookie in college---many, many years ago)

 

[swole]

I'm glad you'll be betting NFL like a crackhead, because the amount of events I'm going to have will make your head spin I'd like to encorporate a better system than simply setting house-favored odds, maybe George can hook us up somehow.

 

[will b huge]

I'm glad you'll be betting NFL like a crackhead, because the amount of events I'm going to have will make your head spin I'd like to encorporate a better system than simply setting house-favored odds, maybe George can hook us up somehow.

Incorporate simply setting house-favored odds??????

I mean its very common outside of Vegas such as never having a half pt on an OVER/Under always a real number, etc......but that is the same as the book now gambling......

The true standard for success---is guaranteed FUNDS coming in......THE GOLDEN RULE is to keep 1 million people betting on the FAV. and 1 million betting on the DOG..----THEN the BOOK doesnt give a crap who wins/loses----EITHER WAY SOMEBODY IS PAYING FOR 100,000 EXTRA KARMA (due to the 10% VIG (juice)).......You can achieve this by properly adjusting the line plus add the extra money (karma buying) with the 2 team dips, 3 & 4 team teasers, the 2-10 team Parlays, ETC> ETC>---



One question though---on a straight line in the NFL---how are you going to set house favored odds???? Why wouldnt I bet with the House then??????

 

[HumorMe]

I guess musclemuscle deserves his name on this thread.

 

[needtogetaas]

I'm glad you'll be betting NFL like a crackhead, because the amount of events I'm going to have will make your head spin I'd like to encorporate a better system than simply setting house-favored odds, maybe George can hook us up somehow.

you ganna be doing anny over under bets.I think the pats vs radaers game is going to be a very high scoring game.

 

[PolfaJelfa]

Whats this now...were betting on juice...im in for some deca!

 

[fivefold]

Whats this now...were betting on juice...im in for some deca!

LOL

 

[JohnRambo]

http://www.elitefitness.com/forum/showthread.php?t=464693