How to Become a Bookie

A bookie is someone who takes bets from individuals on sporting events, much like a stock broker takes money from clients to buy and trade stocks. The bookie sets the "spread" in order to set a break-even point. The bookie collects money from the losers and pay out to the winners. The bookie also determined the so that he can collect a percentage of the total money received, also known as the "juice."

Difficulty: Moderately Challenging

Instructions

1. Hang out at local clubs and bars during major sporting events like the Kentucky Derby, World Series and Super Bowl. Talk to people and see who is placing bets with other people and talk to their friends. Get known.

2. Buy a cell phone that you use just for the booking business along with a code of some sort where the person lets the phone ring two times then hangs up. Tthis signals you to call them back because it is a legitimate client waiting to place a bet with you.

3. Set a day that you will settle all bets: win or lose.

4. Check out the games currently running and learn the ins and outs of who is playing. From this information set the point spread and write down the teams and games and the spread in your book to reference to those looking to place bets.

5. Write down the initials and amounts of the bets that people make when they call - make sure they know you will be adding a 10% "juice" if they lose the spread. Make sure they know exactly how much they will be losing.

Tips & Warnings

• Never sell a game too short.
• Lower your spread to entice clients to make bets with you.
• Make friends with the other bookies and place bets against each other to even out the spread.
• Invest in a safe or safety deposit box.
• Placing bets on sporting events is illegal in most states - consult an attorney before attempting to become a bookie.
• Destroy your betting book as soon as you do not need it.