Let's say it's the 1960s, Bay Ridge, Brooklyn, and a guy is a compulsive, very bad gambler. Let's say he's such a bad gambler that when he later on dies, his life insurance is empty, having taken the insurance prematurely out as cash.

For one, who would he have worked with in loaning money and placing bets on horses - a standalone loan shark or a connected/made guy?

Two, how would he have been treated by said loanshark and/or wiseguy if he missed payments? Were guys who couldn't pay physically assaulted as you see on The Sopranos? How would the payment system work?

Third, were there any notable (Made) guys working in Bay Ridge in gambling/horses in the 1950s/1960s?