“My buddy Benny and I have been taking action since the mid ‘80’s. We try to keep each other informed as to who the wise guys are and how to reduce our exposure so as to avoid spending time away from our homes and family.
Being a bookie has always been sort of a social thing for Benny and me. We enjoy going down to the local bar and watching the games with the guys, most of whom have been wagering with us for years. Be that as it may, the appeal of the offshore sportsbooks back in the ‘90’s drew more and more of our players away to what appeared to them to be a convenient solution and a better deal all around.
How were we supposed to compete with an Internet and phone service that allowed the players to place wagers at any time of the day or night? Add to that the attraction of the casino and racebook action suddenly available.
Who could blame the players for switching over to offshore?
Trouble started brewing when a couple of the guys, who used to bet regularly with us, had a big weekend and won a bunch of money. Great for them, we said.
But, after a few frustrating days of waiting, it became apparent that getting a big payout from the offshore book was not going to be as easy as advertised.
The one good thing about Benny and me, we always paid off with a smile. One of the first things that I ever learned about the bookmaking business is that a bookie who does not pay off his players in a timely and friendly manner will not be a bookie for very long.
One afternoon another old buddy came into the bar and told us that he had just discovered a service company that worked just for professional bookies. Benny and I had never heard of such a thing, but right away it started to make sense.
These companies are known as Pay Per Head Services and what they do is to act as a write shop for all of a bookies action as well as providing up the minute reporting of all his players’ action as well. So, we made the call and talked with a knowledgeable agent who set us up an account………… we never looked back.”
