2012 Off topic thread(basketball,movies,etc whatever)

[MMA_scientist]

^^ That is pretty much what I do too. But I only keep enough to cover my bets in there, I don't keep anywhere near $9k online. I used to keep the whole thing online, but then I realized that I was much more likely to lose my bankroll by the book stealing it than by losing bets. I have no doubts that eventually a book is going to fold and keep my money. I pulled out of BM when the poker room got hit.

[edman5555]

Are you talking about a poker room that bookmaker owned and operated? Did the players get their money?

[MMA_scientist]

Yeah, the BM poker room where the feds stepped in and charged them or investigated them or something. I can't recall all the details, and I don't know if the players got their money or not.

[edman5555]

Bookmaker is generally considered a reliable pro book. They were one of the books i was hoping to go into. 5dimes, bookmaker and betdsi.

[edman5555]

More news. Betcris is taking all of bookmaker.eus non us citizens.

[edman5555]

Betcris is us restricted. I think betislands went down due to mismanagement tbh. They did steal balances more or less though.

[MMA_scientist]

We can try to rationalize the fear away, but the fact is having money in these accounts even at "reliable" or "trustworthy" books is extremely risky. There is a very good chance they will take your money and never give it back. The only way you are safe is betting in the good old U.S. of A. in a brick and mortar casino. The U.S. gov't might choose to fuck you at any moment with these offshore books. Or the book might choose to fuck you. It is a very real possibility. I accept that risk as the price of entry. It is also one of the main reasons I don't let my bankroll get very big. If we had a local book taking the same kind of action, I think I would be deriving a meaningful income from MMA betting by now.

[edman5555]

You are right. A few things though.

I can probably make a reasonable effort to keep a good portion of the money out of the books at all times.
If i consistently win money every month and slowly withdraw small amounts out i can probably recoup any catastrophic losses incured from the fbi or unscrupulous bookies confiscating my balance.

I am thinking that i should split up my balance amongst multiple bookies. 5dimes, bookmaker, betdsi, maybe legends.

I am of course worried about the fbi more than anything.

I think a lot of these books operate internationally so i would be hopeful that they would pay american balances if the fbi raided them in order to keep their rep but who can say that with certainty.

Either way it is either this or i go back to college. I think i can hit a 10 percent or so return every month. Maybe not. If so i can build up a big enough balance in a year to maybe consider a move to canada. Maybe two years.

My thought is if i can make it safely for a year and do a good job i could be golden.

[edman5555]

I hit 200 percent return in eight months before. If i do a rolling bankroll i might be able to pull it off.

[MMA_scientist]

I hit 200 percent return in eight months before. If i do a rolling bankroll i might be able to pull it off.

We've been through this. It might happen, but to hit a return like that you are risking a down turn of similar proportions. It isn't possible to hit 200% consistently IMO. You would be the wildly rich in very short order if you could do that.

As far making a go of it, I support that. The whole key is getting your lifestyle expenses to a minimum so you don't have to press your bets to pay your rent.

[edman5555]

Yeah i know we have. I still think it is feasible. This money will be outside all livi expenses.

[SPX]

I don't get why you would move to a foreign country.

I mean, if you're that serious about it, move to Vegas and do it the safe way where you never have to worry about your money getting stolen.

[edman5555]

You dont have to worry about much internationally.

[MMA_scientist]

Well I think the thinking is that the U.S. Govt isn't going to take the money, which is probably the biggest concern. If you use a book that doesn't take U.S. money, it isn't as worrisome. That said, I still wouldn't trust it with more than $10k or so personally.

When you say the money will be outside all living expenses, you mean you either have wealth that you have failed to disclose to us, or you are going to have a job? So it sounds like the betting is a side attraction to living abroad. I think about leaving the country all the time. If I didn't have the kids I probably would've done it. Even with the kids, we still talk about moving abroad and just playing by ear.

[edman5555]

I will be working my normal job next year and trying to manage this bankroll. Living abroad is sort of a misnomer. I would temporarily rent an apartment in canada in order to set up a vpn so i can access pinnacle and the likes from connecticut. As of now i am trying to get my shit together in my personal life in preperation for this. Im kind of a one legged drunk right now but i am working on it. So to be clear, i am shooting for a 15k bankroll that i will manage part time while not working my 40 hours a week job. I will roll the bankroll so that everytime i win the money goes right back into the bankroll increasing the size of it. If i am successful in getting enough money together by the end of the year i have some plans. I want to buy a condo and try to set up shop in canada. I dont really know if this will happen. Those are my hopes. It will obviously take a lot of money to do both.