Lee Davy sits down with Mike “Da Bookie’ Hill to talk about the differences between a $5k event and a £200 event; why the WSOP betting book has never taken off, Fixed Odds Betting Terminals and much more.
When David Cameron recently called for great British values to be taught in schools, I wonder if he had the great British Bookmaker in mind? After all, it’s about as British as sausage and mash.
One man who has lived the life of the great British Bookmaker is Mike ‘Da Bookie’ Hill, and I caught up with him during a break in his $5k 8-max action to chew the fat about anything, and everything related to gambling.
This is a man who you are just as likely to see playing in a £200 event, down at the local pub, as a $5k event at the World Series of Poker (WSOP).
So where does Da Bookie place himself in the current poker ecosystem?
“Sometimes, it’s easier to play a $5k event than it is to play £200 event. If you play in the $5k everyone pretty much knows what they’re doing. They range correctly and the standard of play is much better. They under-estimate me in a $5k event, and in a £200 event they think I am a world champion, so it’s easier to play when you are being under estimated.”
The World Cup has just kicked off and gamblers are wetting themselves. I ask Da Bookie if he has had a flutter?
“I backed Argentina, and got a good price. I have also done the Brazil v Argentina final, and got a good price. Maybe France to make the semi’s, and Colombia to make the quarters.”
When the World Cup is held the betting industries make a killing, so doesn’t the same thing happen when the World Series of Poker (WSOP) is in town?
“As an ex bookie, it’s very difficult to make e WSOP book balance. You have such a wide range of players; such a big field and a lot of the money is going to be placed on the best players. Effectively, even though the odds are really bad on Hellmuth or Negreanu to win the World Series, it probably reflects the way the money is taken so you don’t get a big enough book.
“If everyone backed themselves, or everyone backed 3-4 players, and you built up a pretty big pool, then perhaps it could take off? What you could do is look at taking 30-players out of the field, and just betting on those 30-players, and whoever finishes the better out of those 30-players wins. That would create a more balanced book.”
So how did the Da Bookie become Da Poker player? What happened to the old business?
“I had three shops in the Manchester area and one day I got fed up with it. Coral and Betfred came along and offered my a few quid so I took it. These days I think the bookmakers business is suffering a little bit because of the lack of independence. The game has become a very software model-based business and the old days, when the bookmaker used to take on the punter, has unfortunately gone.”
I wondered what Da Bookie’s views were on the Fixed Odds Betting Terminals (FOBTs)?
“I have to be honest. It would be remiss of me to say they are a terrible thing as they made me a lot of money, and allowed me to sell my business. They are something that needs regulating, and looking at, because there is no way you could argue that they haven’t created too much gambling. People are playing them a little bit too much, and too quickly, and the crack cocaine of gambling is not a bad description unfortunately. I think they are here to stay, and the big firms will never want to get rid of them. They just need to be regulated, a little bit, to protect people from doing some damage.”
Does Da Bookie think the High Street bookmaker will one day go the way of the Dodo?
“No. Betting shops used to have to provide proof of a need to open, and you don’t have to do that anymore, hence the reason there are so many of them. I think this will rationalize over time, and the bookie will always be here to stay, but there is a problem. The old people are getting older, and the young people are using computers. My computer is steam powered.
“I also have to say, as a great racing enthusiast, it pains me when I hear that people struggle to get very small bets on in betting shops. The bookmaker is still is a big part of the community. It gives structure, and does have a social value. “
I would say it’s Britishness personified.
