I don't that that's what the Feds claim. I just dispute those claims. That's all. And I'm not a mob apologist. Any of the long time posters here will attest to that. But the claims that the Feds make in gambling cases are absolutely ridiculous.
Yeah I know what you mean. I'm not trying to prove you wrong or anything lol. I just gave you one of the links in case you wanted to research it yourself. How much money do you think they made approximately off of that gambling ring if you had to take a guess?
I knew one of the guys arrested in that bust. No way they made anywhere close to 2 bil. I actually kinda doubt they even had that in bets. The feds usually will word their press releases to saying, "suspects recieved wagers in an amount of UP TO $1m a week". Most likely super bowl week. But it usually hits the papers as, "$52 Million dollar betting ring taken down!!!" Truthfully the total amount of wagers would be more like 20 mil. Now whats weird about gamblers is more lose than win. Youd think if u flipped a coin itd be like 50-50 and you make money off the juice... Assuming ur a chump who believes wikipedia But usually the ratio of bets won to bets lost is around 45:55. Then u have juice (completely different subject).. Assume your gross profit is 10% of the 20 mil. (Very unlikely, but whatever). Now who handles the bettors? Agents. It varies, and theres no hard and fast rules to it but some agents can recieve 10, 25, 50, up to 75% of NET losses. Say the book doesnt have any packages of bettors at 75% and theyre all at 50, all thats left over is one mil. Now you got to pay your PPH Service (price per head), which is fucking rediculously expensive... So say your paying at a min 20k a month for ur offshore site. You have about 750k left give or take. Then you need at least one or two (armed) runners to carry around hundreds of thousands of dollars on a daily basis. You want to pay these guys good bc a, its dangerous work, and b- u dont want them to rob you. Now unless you want to run a multimillion dollar sportsbook out of your mothers basement, your going to need an office, phones, computers, etc... So you end up keeping like 550-600k out of the "50 Million Dollar Sportsbetting Ring", but thats still good money. Oh and i forgot to mention like Pizzaboy said u cant collect everything, so assume your collecting like 96-97% of losses and paying out 100% percent of winnings.. Haha. Sorry to write such a long post but i know a great bit about it.
But usually the ratio of bets won to bets lost is around 45:55. Then u have juice (completely different subject).. Assume your gross profit is 10% of the 20 mil. (Very unlikely, but whatever). Now who handles the bettors? Agents. It varies, and theres no hard and fast rules to it but some agents can recieve 10, 25, 50, up to 75% of NET losses. Say the book doesnt have any packages of bettors at 75% and theyre all at 50, all thats left over is one mil. Now you got to pay your PPH Service (price per head), which is fucking rediculously expensive... So say your paying at a min 20k a month for ur offshore site. You have about 750k left give or take. Then you need at least one or two (armed) runners to carry around hundreds of thousands of dollars on a daily basis. You want to pay these guys good bc a, its dangerous work, and b- u dont want them to rob you. Now unless you want to run a multimillion dollar sportsbook out of your mothers basement, your going to need an office, phones, computers, etc... So you end up keeping like 550-600k out of the "50 Million Dollar Sportsbetting Ring", but thats still good money. Oh and i forgot to mention like Pizzaboy said u cant collect everything, so assume your collecting like 96-97% of losses and paying out 100% percent of winnings.. Haha. Sorry to write such a long post but i know a great bit about it.
