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Re: Where do mobsters lay off?
[Re: CabriniGreen]
#860458
09/18/15 07:13 PM
09/18/15 07:13 PM
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Joined: Aug 2008
Posts: 8,534
IvyLeague
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Joined: Aug 2008
Posts: 8,534
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Aah, ok thanks I was a little confused thinking about it... It seems like bookmaking is a little complicated if you are into big action.. The idea is simply to balance your bets so you aren't exposed. Typically a bettor has to risk $110 to win $100. Assuming the bets are even on both sides, the bookie can pay the winner with the $100 from the loser and keep the $10 as profit. Obviously bets come in uneven, with heavier play on the favored or home team. So, for example, if there is 80k bet on the Pats and only 20k on the Raiders, the bookie is in trouble if the Pats win. So he will call up another bookie and lay off some of the action on the Raiders.
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Re: Where do mobsters lay off?
[Re: mulberry]
#861473
09/28/15 04:50 AM
09/28/15 04:50 AM
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Joined: Jul 2012
Posts: 375
strococs
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Capo
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Posts: 375
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Even the bookies can get in trouble as the spread changes during the week. By the time they start laying off their bets, they might fall into the crack and owe both sides.
Let's say Giants vs Cowboys and Cowboys are favored by 6.5
during the week, people bet $200K on the Cowboys and $100K on the Giants. Bookie realizes this and wants to lay off $100K of the Cowboys action on Saturday. Now the spread is Cowboys by 7.5. He lays off $100K of Cowboys at 7.5
Cowboys win by seven. He owes his customers $100K because they got in at 6.5 and he owes the layoff bookie $110K because he layed the bet off at 7.5. In that case, he would have probably kept the bet himself and lost $90K that week on the game. You would move the line accordingly , as the bets poured in on Dallas you would move the line and or up the juice on Dallas. So instead of laying -110 you have to lay -120 to win A 100 on Dallas -7. You make Giants -105 +7 to try to incite action on them .
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Re: Where do mobsters lay off?
[Re: DallasConnected]
#861474
09/28/15 04:57 AM
09/28/15 04:57 AM
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Joined: Jul 2012
Posts: 375
strococs
Capo
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Capo
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The line move is due to the wager on a side. -6.5 it will move to -7 before it moves to -7.5 so your not as explotied as you think. For one the numer guys and degenerates will bet the -6.5 and the +7.5 and try and middle it. If you are in Dallas your gonna open that line at -7 anyways and go whatever way the money comes in to keep it balanced. So the exposure all depends on the number of players you got. you got a small book you are more at risk, if your a big book you dont mind paying out guys especially early in the season. They give it back every time. Every book also has a few sharp guys that cock there leg on a bad number and you can adjust it quickly before word hits the street.... I have seen Allot of books wiped out because they don't layoff. If you are taking bets over your head you must lay off. Nothing kills A book faster then slowpaying your winners. Gotta love the parlay betters. Always fun when you have to make the decision to lay off or not on A huge parlay bet. When is one game left on it.
Last edited by strococs; 09/28/15 04:58 AM.
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