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  #1 (permalink)  
Old 06-13-2003, 04:47 PM
Sqrchris Sqrchris is offline
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Default Whats a fair price to let someone buy out of a Nets series price?

I have a customer who bet the Nets for the series at +290, he wants to know how much it would cost to let him out of the bet. Any ideas?
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Old 06-13-2003, 04:49 PM
Crony Crony is offline
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If you want the Spurs, you can get the Spurs -2.75 or better right now.
A fair price is to let him off for nothing, maybe even pay a little.

What book are you with?
I would gladly take over the bet.
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Old 06-13-2003, 04:50 PM
hatbox hatbox is offline
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isn't the series price basically the same now?
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Old 06-13-2003, 04:50 PM
Oddessa Oddessa is offline
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He can lay -275 on spurs out there at screen books right now.

Edit: Someone beat me to the answer, but take him for 10 cents. Use -300/+250.
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Old 06-13-2003, 04:58 PM
Sqrchris Sqrchris is offline
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Im sorry if I wasn't clear, he bet $300 laying -290, how much should I charge him to get off the bet? Or should I just cancel it? Should I charge him a percentage of the bet?
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Old 06-13-2003, 04:59 PM
Goo Goo is offline
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why does the guy want out, they just tied up the series at 2-2, brand new series take a shot with the Nets.
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Old 06-13-2003, 05:01 PM
Sqrchris Sqrchris is offline
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Goo-
These are the kind of squares I deal (live) off. They don't know anythgin about offshore, scalping, etc. The guy must think he has not shot at winning his bet now-I guess.
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Old 06-13-2003, 05:06 PM
hatbox hatbox is offline
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are you saying you gave him the Nets -290? and you sleep at night?
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Old 06-13-2003, 05:10 PM
Fishhead Fishhead is offline
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Dont let the sucker out!!!!!!!!!!!!!! LOL
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Old 06-13-2003, 05:12 PM
Sqrchris Sqrchris is offline
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Im sorry boys, the first message is right, +290, now he wants to cancel/buy the bet out. How much would you charge him?
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Old 06-13-2003, 05:14 PM
alysheba88 alysheba88 is offline
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I have the Nets at 20-1 to win it all. Obviously that is a future bet price.

How much to buy me out?

I am NOT selling mind you, don't believe in such hedges. Just interested in opinions.
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Old 06-13-2003, 06:28 PM
shoebox shoebox is offline
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He has the best of it right now, let him out for nothing, act like you are doing him a favor and keep him happy. He will lose much more to you over the next couple of weeks and by keeping him happy, you know he wont look elsewhere for a book, cutomers is all we have to make a living
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Old 06-13-2003, 06:38 PM
cash cash is offline
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this must be urban lengend..even squares are not
this stupid!
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Old 06-13-2003, 06:43 PM
TTinCO TTinCO is offline
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Tell him that you don't normally "let people out" of bets (....like anyone does) and charge him 10-20 cents for your services.

More than fair in my opinion
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Old 06-13-2003, 07:20 PM
Halifax Halifax is offline
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Tell him to set up another account at SportingBetUSA/SportsBook and purchase San Antonio Series -260 for a 30 cent hedge, while explaining to him what a scalp is and how it's important to line shop and use multiple books. [img]i/expressions/face-icon-small-wink.gif[/img]

In all seriousness, if he wants to cash in, you should give him a price based on whatever your shoppe's current selling price is for San Antonio series - in other words, if your shoppe's current SA Series price is -290, then it's a wash (you pay him +290). If your SA Series selling price is -270, then you owe the guy 20 cents. If your selling price is -300, then the guy owes you 10 cents. This is the "mathematically correct" way to handle it.
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