Being a bookie: The highs and lows of dealing lines, taking bets
The highs and lows of dealing lines, taking bets
For years, I looked for a bookmaker and finally found one in the unlikeliest of places: at a retreat for readers of a literary magazine to which I contribute.
The bookie, who asked me not to reveal his name because sports betting is illegal in California, lives in Los Angeles and makes his living as a poker player and by taking sports bets via e-mail.
On why people like a human bookie:
Typically online betting services make you put money on account before you bet.
The reason I grit my teeth and lose to everybody some nights is because I’ve been in the business long enough to know that I don’t know more than lines makers.
Guys who are not professionals at this invariably lose, and there’s only so much money that they will lose before they finally get that they cannot beat sports and they quit. ...
Typically, the gambler is risking 11 to win 10, so he has to win 11 of 21 bets just to break even.
If they’re going to honor their debt, it’s almost guaranteed money.