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Wait, does a "bookie" need to find someone on both sides of a wager?

Sports degenerates, pls explain how this works, say for a gu...
lascivious tattoo hairy legs
  01/25/22
no, each person is betting against the house. the house want...
azure pocket flask
  01/25/22
But what if it's just some shlep in the Bronx and he's only ...
lascivious tattoo hairy legs
  01/25/22
i'm not a gambler, but presumably he's just a middleman and ...
azure pocket flask
  01/25/22
it's like an exchange or market maker, or a bank for that ma...
Aphrodisiac Sapphire Mood Tanning Salon
  01/25/22
You can also lay some of your action off at another book, ba...
Citrine cuckoldry
  01/25/22
This isn’t true, but it’s a common misconception...
trip nibblets
  01/25/22
With the vig you are fine as long as you impose limits on pe...
magical internal respiration
  01/25/22


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Date: January 25th, 2022 6:26 PM
Author: lascivious tattoo hairy legs

Sports degenerates, pls explain how this works, say for a guy who just runs a "bookie" operation out of a storefront

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846465)



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Date: January 25th, 2022 6:28 PM
Author: azure pocket flask

no, each person is betting against the house. the house wants half the bets on each side so they aren't taking risk.

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846471)



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Date: January 25th, 2022 6:30 PM
Author: lascivious tattoo hairy legs

But what if it's just some shlep in the Bronx and he's only getting bets on the Jets to win it all? What does he do?

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846484)



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Date: January 25th, 2022 6:32 PM
Author: azure pocket flask

i'm not a gambler, but presumably he's just a middleman and he's placing your bet with some real betting house. i could be wrong.

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846499)



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Date: January 25th, 2022 6:37 PM
Author: Aphrodisiac Sapphire Mood Tanning Salon

it's like an exchange or market maker, or a bank for that matter. he ideally has enough volume and capital to handle anyone's bet without the threat of getting wiped out, if things start to push it he shifts his odds or stops taking bets on one side. the value he provides is that his balance sheet facilitates betting without the need for finding a matching bet on the other side.

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846517)



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Date: January 25th, 2022 7:04 PM
Author: Citrine cuckoldry

You can also lay some of your action off at another book, basically exchanging some of your risk for theirs to balance it out

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846627)



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Date: January 25th, 2022 6:54 PM
Author: trip nibblets

This isn’t true, but it’s a common misconception by squares

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846590)



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Date: January 25th, 2022 6:39 PM
Author: magical internal respiration

With the vig you are fine as long as you impose limits on people who know what they are doing.

The storefront guy is taking a lot of action on local teams in markets where the line is on point.

(http://www.autoadmit.com/thread.php?thread_id=5016691&forum_id=2#43846525)