The problem with the bookmaking business...

[Boomer]

The closing of Las Palmas today really made me think about bookmaking as a business, and what a risky, terrible business it can be compared to regular businesses.

How many businesses do you know of where you can have hard-working competent management with many, many years in the business, a solid financial base, and more so than any other business I can think of, have an extended run of bad luck which cause all your hard efforts to all be for naught.

I think about these things because there but the grace of God go I. If not for a real good friend of mine that knew mountains more than I did about the biz, I could have risked everything and lost it all too. And almost did, if not for his friendship and knowledge protecting me from myself.

I guess it's like money management from a player's point of view. You've got to have small enough limits relative to your bankroll to ensure your survival. But they have to be high enough to make your overhead and pay your employees.

Even so, it sure isn't a business I'd ever think about getting into ever again.

Good luck Las Palmas in whatever you do. You certainly were one of the class outfits.

[Underdog7]

I still remembered when SDB Global where shutting down when the Feds were after them. A friend of mine read it in a local newspaper and called me in the office and gave me the news. I had a few dimes with them and first thing I did of course was to call their #800 number and all I got on the very first day was a busy signal. I called my friend who lives in southern california area and told him about the news which he had more than what I got. First thing he did is call the 800 number and all he got was nothing. We went chaos and all I was thinking that time was my money is gone. Second day I called them again and finally I got a answer and the clerk told me immediately that we are not accepting wagers anymore and I couldn't say anything more for legal purposes. We are here to answer the phone for people who are requestiong for payouts. And what a relief for me, didn't expect that I will get it back. Last thing I heard from the guy was, WE WENT IN THIS BUSINESS IN A VERY PROFESSIONAL WAY AND WE ARE GOING OUT IN THE SAME MANNER!!

Reason I mentioned this experienced is simply because of how Las Palmas handles the whole situation. They could had just taken your money and run, but they indeed going out in a very professional way. Good luck!

[Boomer]

Udog...

With the old time bookmakers it was always that way. These supposed "criminals" in the states I grew up with were some of the most honorable people of any kind I ever knew.

Las Palmas was an old time bookmaker. There was no way he would have taken the money and disappeared. It isn't in 'em.

[Underdog7]

My father wasn't a criminal nor a bookmaker but he thought me a very good lesson in life. I was still a young boy and I saw our business growing rapidly and he told me, son, if you want to last in any business YOU HAVE TO DEAL WITH MANNERS AND RESPECT.

[chestrockwells]

I can appreciate all the sentiment here, to a certain point, but I must say Boomer that unlike what you said.......most businesses"fail or close, especially small businesses. We don't have to get into the statistics here but frankly I don't see why anyone has to overly lament the closing here nor do I see why the bookmaking business is any different. I know what your intending when you say "luck" but actually that word is a very big ingredient when it comes to the success of any business. You're out here in tech heavy California.......I'm sure you know how Microsoft started. Talk about timing and "luck".

[krackman]

"With the old time bookmakers it was always that way. These supposed "criminals" in the states I grew up with were some of the most honorable people of any kind I ever knew."

I COULD NOT AGREE MORE...

Also from my dealings with Underdog7 I know he is a honorable man and I am glad things turned out good for him.