Numerous individuals engage in handicapping, even if it’s just taking the opposite side of a friendly bet among friends. However, my friend, this practice is essentially bookmaking or being a bookie.
In the past, I lived a bookmaking fantasy in Las Vegas, building my bankroll and accepting wagers from friends who didn’t reside in the city. I would set aside the money to cover any bets that exceeded my personal bankroll.
Nowadays, with the advent of legalized sports betting, some might wonder if the bookie game has come to an end. I believe not, as the age-old practice of “I’ll pay you Tuesday for a wager today” is still thriving. Returning to my story, I still have friends who owe me money from those whimsical deals we made—like the $5,000 bet on the Super Bowl that didn’t pan out well for them 😉. Hence, I firmly believe that the future of bookies remains secure.
Similar to handicappers, I have witnessed numerous bookies fall into financial distress. Proper bankroll management remains crucial in this pursuit.