Quote:
Originally Posted by joshgirls
if you open a book, you run the risk of getting middled, or getting killed on one sided action. you need to know what the critical numbers are for each sport (NBA is 3, 6, & 10, while NFL is 3 & 7) & you need to ensure you hedge when you get one sided action. you can make money 364 days then on day 365 you get wiped out & them some. The only edge you have as a book is the vig, & you better know how to manage the lines & the action so you are not overexposed. & this does not begin to cover the issues of payment processing, money laundering & legal issues in some countries. unless you get the right experience running a book, you can easily get killed.
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This completely sums it up 100%. If you don't have an experienced linesmaker to set and move the number as money comes in, and if you don't have relationships with other books to lay off bets if you get too much one sided money on a game, then you could get wiped out a quarter of the way through football season. If you think adult programs that go belly up and run off with affiliates money is bad you should see how often it has happened over the years with well funded, experienced staff online sportsbooks.
You would also 100% have to move your operation to a location like Costa Rica that provides licenses for online books, and not just open a mail drop there, I'm talking about physically move your operation and call center there. Most players won't even give a new book the time of day if they don't feel they have a gaming board, even one as lousy as Costa Rica's, that has bonded a book so they have a hope of getting their money back if you go tits up.
There is so much more to it than that, and yes it is illegal in the US, and even though many big books still take US customers, it is a fucking headache for them to be able to transfer money to your book. You would have to find a company to act as a Western Union or Moneygram front to even be able to accept deposits and payout customers. Now if you're just looking to start a small operation where you take in some customers locally, and you want them to have a place to call in and place their bets or to be able to bet online, then there are offshore sportsbook staffing companies that will do that for you, but you will still have to move the line on your own...