I've been into the whole mob thing for quite some time now and i STILL havent come to fully understand a few things 100%. Im asking anyone who knows but I'd really like Turnbull to answer regaurdless of any other response i get (not to sound rude at all or say anyone else wouldnt know its just i like the way he puts things) but whoever knows just reply, all answers will be appreciated.

1st... Whats an good example of Extortion?

2nd...whats a good example of what a "bookie" does?

3rd... Whats a good example of what a Loan Shark does?

and 4th ... what exactly IS a union and how does the mob make money off of them?

My dad tried explaining the last question to me but I still didnt fully understand. Whoever replies please try as hard as you can to make the examples as easy as as possible and make them real life situations (create characters if u must and a storyline lol) im a little slow on things...THANK YOU!

1. Extortion means paying a gangster so you or your family or business won't be harmed by the gangster. In GFII, Fanucci extorted Genco's father: if the father didn't pay Fanucci, Fanucci would hurt or kill Genco's father and/or family, and/or damage his store. In a deleted scene, Fanucci held a knife to the actress in "Senza Mama"'s nose to get her father to pay him.
2. A "bookie" (bookmaker) takes bets on horse races and other sporting events, keeps the losses, pays the winners. Bookies exist for the convenience of gamblers who don't want to have to go to the racetrack to bet--and want to hide their winnings (if they ever win) from the government. Carlo was a bookie in GF.
3. A loanshark makes cash loans to people who can't borrow money from banks and other legitimate institutions--especially gamblers and crooked businessmen. Loansharking goes hand in hand with gambling: a bookie is almost always affiliated with a loanshark Loansharks charge exhorbitant interest--4-6% per week is not unheard of; and threaten to break the kneecaps, legs, arms, etc., of people who don't pay on time.
4. A labor union is an association of workers in a particular business or industry (i.e., longshoremen, airline flight attendants, construction people) who band together for "collective bargaining." As a group, they have more clout with the owners and bosses than they would as individuals. The union negotiates collectively for its members for wages, benefits, etc. The threat they hold against employers is that they will go out on strike (refuse to work) if their demands aren't met. Organized crime exploits unions in several ways. Unions have treasuries (filled with workers' monthy membership dues) that mobs plunder. They have huge pension funds for workers' retirements that the mobs also dip into. They can turn out hundreds or thousands of workers to vote for or against a particular political candidate, or contribute to their campaigns, and crooked officials use this power to get favors from the politicos. Mob types can have a union they control call a "wildcat strike" against an employer (like a construction company putting up a building under deadline) to extort payments from the bosses. And they also use unions as sources for "no-show" jobs: putting mobsters or relatives on the payroll for phony jobs for which they never do a day's work.

I always wondered how that worked. I knew they had to 'pretend' to work to account for money etc but never knew how they managed to pull it off. Thanks Turnbull.

FH

once again the Mighty Turnbull has the answer,,,,, you the mang

I have a quick question: what does La Cosa Nostra stand for again?

This Thing of Ours . . .

GoodFella

Thank you VERY much Turnbull, you are truly amazing. So basically Extortion is like a bully stealing a weaker kids lunch money at school? I once heard extortion was offering buisnesses and such protection. (this adds to a question related to "Goodfellas". When Henry is explaining that all the "organization" and pauly does is protect people who cant go to police, who are these "people"? crooked buisnessmen?)...also One other question I have pertaining to your answers is, when you say a bookie keeps the losses and gives the winners their fair share, how does that work? If the bookie is keeping the losers money, what money is the winner making and where is it comming from? For example, if little ol me were to start my own booking agency haha or whatever u call it (im stupid) how would I possibly make profit if im keeping the losers cash and have no money from some other source to pay the winner? (im sure i misread and this question is answered so i apologize if thats the case).

Goodfella: Sonny Bunz provides a graphic example of how Paulie functions as a police department for people who can't go to the police. Sonny not only runs a legitimate restaurant, but as you saw, he uses it to receive and sell stolen goods (like the fur coats Henry brought in). So, he's breaking the law. Then Tommy owes him $7k and is muscling him. Since Sonny is a lawbreaker, he can't go to the cops to get Tommy off his back (and since Sonny is connected to the Mob, it'd be fatal for him to do so). So he begs Paulie to become a partner in his business, so he can be protected from Tommy. That's a classic "protection racket."
In betting, the odds on any horse or dog race, jai alai contest, or the points spread on any ballgame, are made to favor "the house." Since the bookie is "the house," he will, under most circumstances, make more money from losers than he has to pay out to winners--just as the horse track always comes out ahead.

Thanks again Turnbull the explanation for the "protection" racket was great. I now understand more about one of my favorite films so grazi! I've pretty much "assumed" these things your explaining but never in such detail as you could put it. Being the annoying prick that I am (un-intentionally) every answer you provide insist another question in my retarted brain (probably because im alot younger and dont understand much about anything in the real world right about now) but im gonna take what you said in your second answer about bets and ask my dad to help me understand "the house" thing better. I'd rather have him smack me upside the head then make you wanna, your my idol . (just kidding about the smacking upside head comment lol)

Read this thread about betting and bookmaking

http://www.thegodfathertrilogy.net/ubb/ultimatebb.php?ubb=get_topic;f=1;t=002957#000002

You should definitely click on the thread plawrence posted, Goodfella. He wrote the definitive view of how odds work. It'll answer your questions.

whoa plawrence that was mind blowing. Much respect to you for actually taking the time to type all that up. As always, I have a new
question(s) that spawn from your explanations. (if anyone does not feel like answering my many questions because i KNOW they come off as ignorant, then by all means dont bother or worry about it) but if you have the time then they will surely be here. Ok heres my questions.

1. The VIG plays an important role in bookmaking yet I still dont fully understand how its operated. Vig is interest if im not mistaken, so does a bookmaker make all his betors pay a certain amound of interest from the time they place a bet to the time the game is actually over? and if so how much?

2. You stated that "the bookie collects $500 from the Tampa Bay bettors (they put up 5.00 to win 7.50) and pays out $500 to the Oakland Backers (they put up $8.50 to win $5.00). So the book breaks even." Im just curious, why would someone put up more money then they are going to recieve if they win? place an 8$ bet to win 5$? Im probably just being ignorant and dont understand so if you could please help me out Id be greatly appreciated.

THANK YOU!

How exactly do you pronounce "La Costa Nostra"? Is it "coast" and "noast" (to rhyme with coast)?
Or "cost" and "nost"? Thanks in advance...


-Ethereal

You're right about the term "vig" meaning "interest", as in a loan, in some contexts. When you borrow from a loanshark, for example, the interest you pay is known as the "vig". In the context of betting, however, the vig refers to the extra 10% that the bettor must put up as part of his bet, i.e. risk $11 to win $10. And no, the bookie does not charge the bettor any interest from the time the bet is placed until the time the event takes place.

As for your second question: The reason people are willing to risk more to win less is simple. In sports betting, as in life, while outcomes of events are seldom certain, their is a measurable degree of probability that makes one outcome more likely than another. Here's an example that will answer your question: Suppose Team A, which rarely loses, is playing Team B, which seldom wins. Team A is clearly the better team. As a matter of fact, suppose they've already played 10 times this year, and Team A has won 8 of those games If you or anyone else were contemplating a bet on the game, if the odds were 'even' you and everyone else would bet on Team A. Although a win for Team A is far from certain, it's certainly very likely. So to discourage evryone from betting on Team A, which, if they win, will guarantee a loss for the bookie, he establishes "odds" on the game, let's say three to one. That means if you want to bet on Team A, you have to risk $3 to win $1. You still think Team A will win, but if you make the bet 4 times, Team A has to win 3 out of 4 just for you to break even. But if you think that team A, under the same conditions, will continue to win 8 out of 10, then you don't mind putting up 3-1.

Am I contributing to the delinquency of a minor here?

why yes you are plawrence, I am 16 years of age and planning to start my own rackets, so this info is very important.


lol, im just joking. I am 16 years of age but I only want this information for personal knowledge. Not to mention I probably couldnt fully understand everything you explained to me anyways so running my own booking racket would be pretty much impossible, though I think itd be a great extra curricular activty at school that could make me some nice cash. While the other kids deal narcotics (a risky buisness according to Don Corleone) I can run different rackets in which no one would suspect such a young man as myself capable of. .

It isn't "Costa", it is Cosa. Pronunciation varies, but I ponounce is to sound like Coast-ah (without the "t") Noast-rah.

Mick

It's La C-OH-ZAH NOH-STRAH. La Cosa Nostra.