If the bookie is a good bloke and you see the bookie personally at the track, no problems.
You might even find that you are given slightly better odds at times, or some other favours. You might end up being able to get top official betting ring odds with a minimum odds requirement. You might even on top of this be given best tote odds if they beat the betting ring odds.
The bookie may also take bets to lose amounts that he would not normally take.
The bookie might also take bets on races that he normally wouldn't operate on.
He'll basically lay off with other bookies.
A friendly relationship with a bookie never harms anyone.