For example, you have the $60 million gambling bust back in 2008 that involved 24 members, associates, or people otherwise connected to the Philadelphia family.
First, this $60 million was what the operation handled in wagers over a 20 month period. If you wanted to frame that within a year'since time you're looking at handling $36 million in bets. Net profit I've seen anywhere from 5-10% after payouts, expenses, uncollected debts, etc. So what is that? Somewhere between around $2 million and $3.5 million profit over a year. Now divide that among the two dozen guys involved in the ring with a good chunk going to the higher ups in the family.
They can and do make some good money but it's obviously a much different situation than what the average person who sees that $60 million figure must think.
$3.5 millions profit per year is pretty good. I assume the majority of that is going to the guys running the operation. Chop up 1.75 million between let's say 5 made guys up and down the ladder it still averages out to $350,000 per year per person. Add in other smaller books and the Philly guys are getting paid off of gambling. Nothing close to $60 million, but still.
