We asked one of our oldest friends, a Wall St. bond-trader , to write a bio for the site, this is his e-mail back:
Bankrupt Bookie (BB) is a northeast based sports blog that handicaps professional and college football. The site has been profitable for paying customers every year since its inception. BB became a household name in NYC gambling circles after the 2008 bowl season, when the site picked 72% of the bowl games correctly ATS. The site also covers college basketball and the NBA (with an extremely heavy Knicks bias). (The creator of the site has had season tickets since 1991)
The site is different from most pay-for-pick sites, because it doesn't brag in all caps, it doesn't claim to talk to "wise guys", and it doesn't have writers with names like "Vinny the Vig." (No hair gel was used in the creation of this site.) Bankrupt Bookie is a hybrid form of sports writing that I haven't seen anywhere else. It talks about gambling (which everyone thinks about, but only talks about with people who 'get it'), picks winners that make money, and writes like a blog (humor, mocking, and bad grammar).
BB faced early criticism for charging for football picks, but the small percentage charged in comparison to the amount bet should only be seen as a necessary cost of doing business. The most asked question to BB is, "If you guys are so good, why don't you bet yourselves?" The answer is always the same. First, BB does bet. Second, same as the Joker's response as to why he hadn't yet killed the Batman, "If you're good at something, never do it for free."
The writing is unique, but in all honesty, the picks are what have made BB successful. You can throw words all over a page, but like in money managing, people just want a positive number – they want returns.
Their strategy is very similar to value investing. Find something people don't know that much about, make yourself and expert, and then exploit it. Your bookie might laugh at you when you call him and say, "Can I get $500 on Louisiana-Monroe +31?" but who cares. No one makes money just betting MNF. BB finds the soft spots and bangs it home.
Did you know Middle Tennessee State was 10-3 ATS (against the spread) last season? I did and I knew last year, when it was relevant. I made a lot of money on MTS, and guess how I found out.
I won't put my stamp on approval on anything unless it's elite. That leaves me with Titlist Pro V1, Bloomberg, Mad Men, and Bankrupt Bookie.
Good luck folks, and follow my boys on twitter @fearthefan
