Where do mobsters lay off?

So New England plays the Raiders or somebody, they crush em and cover. Everyone picks New England, where does the bookie layoff? Do the layoffs have layoffs? Are there like, super layoff bookies where that's all they do? Any thoughts?

Good question CG, but the layoffs have to happen before the game is played...what most books will do is try to "balance" their book by the end of the week, and then layoff their "excess" to a larger book. And as you asked above, there are layoffs to layoffs right down the line so that everyone gets "balanced" or as balanced as they want...often times even books will hedge their bets on one team or another if they feel a hunch or have some inside info. that they think will give them an advantage.

Considering how many wiseguys are degenerate gamblers themselves, do guys ever get in trouble for "gambling" with their book (i.e, not laying off if they think the spread is unbalanced)?

Aah, ok thanks I was a little confused thinking about it... It seems like bookmaking is a little complicated if you are into big action..

The idea is simply to balance your bets so you aren't exposed. Typically a bettor has to risk $110 to win $100. Assuming the bets are even on both sides, the bookie can pay the winner with the $100 from the loser and keep the $10 as profit.

Obviously bets come in uneven, with heavier play on the favored or home team. So, for example, if there is 80k bet on the Pats and only 20k on the Raiders, the bookie is in trouble if the Pats win. So he will call up another bookie and lay off some of the action on the Raiders.

Even the bookies can get in trouble as the spread changes during the week. By the time they start laying off their bets, they might fall into the crack and owe both sides.

Let's say Giants vs Cowboys and Cowboys are favored by 6.5
during the week, people bet $200K on the Cowboys and $100K on the Giants. Bookie realizes this and wants to lay off $100K of the Cowboys action on Saturday. Now the spread is Cowboys by 7.5. He lays off $100K of Cowboys at 7.5

Cowboys win by seven. He owes his customers $100K because they got in at 6.5 and he owes the layoff bookie $110K because he layed the bet off at 7.5. In that case, he would have probably kept the bet himself and lost $90K that week on the game.

The line move is due to the wager on a side. -6.5 it will move to -7 before it moves to -7.5 so your not as explotied as you think. For one the numer guys and degenerates will bet the -6.5 and the +7.5 and try and middle it. If you are in Dallas your gonna open that line at -7 anyways and go whatever way the money comes in to keep it balanced. So the exposure all depends on the number of players you got. you got a small book you are more at risk, if your a big book you dont mind paying out guys especially early in the season. They give it back every time. Every book also has a few sharp guys that cock there leg on a bad number and you can adjust it quickly before word hits the street....

You would move the line accordingly , as the bets poured in on Dallas you would move the line and or up the juice on Dallas. So instead of laying -110 you have to lay -120 to win A 100 on Dallas -7. You make Giants -105 +7 to try to incite action on them .

I have seen Allot of books wiped out because they don't layoff. If you are taking bets over your head you must lay off. Nothing kills A book faster then slowpaying your winners.

Gotta love the parlay betters. Always fun when you have to make the decision to lay off or not on A huge parlay bet. When is one game left on it.

I agree Strococs gotta layoff when heavey on a side. Was saying moving the number thru key numbers usally bring action on both sides. Alot of other things fall in to play also, other games, action, from what i know.... Yes a slow paying Book is asking to get stiffed, or lose his bread and butter guys.... Collect on Tue pay out on Wed is the norm....