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Message
Question for those with sports gambling and/or bookie experience...
Posted on 9/2/14 at 11:08 am
Posted on 9/2/14 at 11:08 am
Do bookies usually charge juice on the winnings or the losings?
Example:
A bettor wants to make a $50 bet. They say I want to put $50 on the Saints at -3.
Would the bettor risk $50 to win $45?
OR
Would the bettor risk $55 to win $50?
I've seen it both ways on the internet so I was curious what people with experience dealing with bookies have seen most often.
Example:
A bettor wants to make a $50 bet. They say I want to put $50 on the Saints at -3.
Would the bettor risk $50 to win $45?
OR
Would the bettor risk $55 to win $50?
I've seen it both ways on the internet so I was curious what people with experience dealing with bookies have seen most often.
7
Posted on 9/2/14 at 11:09 am to TheCaterpillar
quote:
Would the bettor risk $50 to win $45?
Posted on 9/2/14 at 11:12 am to KingRanch
-110
Posted on 9/2/14 at 11:13 am to Fusaichi Pegasus
I am just going to sit back and laugh at the replies! 
Posted on 9/2/14 at 11:17 am to lsu480
Have you ever given blood or plasma for money?
Posted on 9/2/14 at 11:20 am to TheCaterpillar
quote:
Would the bettor risk $55 to win $50?
Posted on 9/2/14 at 11:21 am to TheCaterpillar
When I use to bet on games, the bookies basically made money on the juice, that only came from the losers.
If I bet $50 on a game and lost, I owed $55 (bet + 10%).
If I bet $50 and won, I won $50.
A good bookie makes sure he has bettors on both sides of the line, so the losers pay the winners and the bookie banks the juice.
If I bet $50 on a game and lost, I owed $55 (bet + 10%).
If I bet $50 and won, I won $50.
A good bookie makes sure he has bettors on both sides of the line, so the losers pay the winners and the bookie banks the juice.
Posted on 9/2/14 at 11:21 am to TheCaterpillar
When I read the title, all I could think about was Charlie from Always Sunny asking "What's the vig?"
Posted on 9/2/14 at 11:22 am to TigerTatorTots
its the same set up as in vegas, -110. in fact, my bookie uses a 3rd party website to handle all the bets. It's just like betting online except i don't have to western union money to costa rica or pay with my debit card.
Posted on 9/2/14 at 11:22 am to TheCaterpillar
I always told him the number I was willing to risk so If I called and said I want $100 on the SAints @ -110 and lost I'd owe $100
Posted on 9/2/14 at 11:22 am to theantiquetiger
quote:This is correct
If I bet $50 on a game and lost, I owed $55 (bet + 10%).
If I bet $50 and won, I won $50.
Posted on 9/2/14 at 11:24 am to TigerTatorTots
quote:
If I bet $50 on a game and lost, I owed $55 (bet + 10%). If I bet $50 and won, I won $50.
This... but most bookies now have a website and you can do everything similar to online betting. The only time I talk to my bookie is at a settle or if I have a question.
This post was edited on 9/2/14 at 11:25 am
Posted on 9/2/14 at 11:26 am to TheCaterpillar
quote:
risk $50 to win $45?
Posted on 9/2/14 at 11:27 am to TheCaterpillar
You win, they take nothing
You lose, they take 10%
Don't do any 'sucker bets' no matter what anyone says ie parlays and teasers.
Need to win 53% of the time(it's actually 52.something), but whatever you're doing probably doesn't need to get that specific.
Don't know your situation, but if you're asking these questions, you don't need to be betting. There's a lot more to it than toy likely think. I generally go 70% during bowl season on my own picks, but I gave up gambling years ago. My advice is do something more worthwhile with your money and I speak from a lot of experience.
You lose, they take 10%
Don't do any 'sucker bets' no matter what anyone says ie parlays and teasers.
Need to win 53% of the time(it's actually 52.something), but whatever you're doing probably doesn't need to get that specific.
Don't know your situation, but if you're asking these questions, you don't need to be betting. There's a lot more to it than toy likely think. I generally go 70% during bowl season on my own picks, but I gave up gambling years ago. My advice is do something more worthwhile with your money and I speak from a lot of experience.
Posted on 9/2/14 at 12:49 pm to PurpleNGoldFan
quote:
You win, they take nothing
You lose, they take 10%
Don't do any 'sucker bets' no matter what anyone says ie parlays and teasers.
Need to win 53% of the time(it's actually 52.something), but whatever you're doing probably doesn't need to get that specific.
Don't know your situation, but if you're asking these questions, you don't need to be betting. There's a lot more to it than toy likely think. I generally go 70% during bowl season on my own picks, but I gave up gambling years ago. My advice is do something more worthwhile with your money and I speak from a lot of experience.
I have been betting college football for 10 years. I have had bookies do it both ways and most websites take take out of winnings.
Just curious what everyone else has experienced. FWIW, last year I went 63% on college football.
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