Editor’s Note: For his story on Super Bowl betting, Paul Solman interviewed an bootleg bookie named Tim. We don’t know his final name, and he asked us not to uncover his face on a NewsHour. But what he had to contend about how betting works was so engaging that we suspicion you’d wish to review more. What follows is Paul’s talk with Tim, edited and precipitated for clarity.
First, though, watch Paul’s shred on Super Bowl betting, featuring Tim and veteran Vegas gambler Teddy “Covers.”
So who are we rooting for on Sunday? And who would we gamble on? Keep reading for Tim’s pick.
– Simone Pathe, Making Sen$e Editor
Tim: So how many are we perplexing to bet?
PS: Mmm, a thousand dollars on a Super Bowl.
Tim: And usually for a one game? If it’s usually on a one game, we substantially would say, “I don’t wanna understanding with this person.” But if we ask me for an account, and we wanted to be an active user, and we was looking for players, I’d set we adult with an account. A thousand bucks isn’t that much, so we don’t know if we would privately accommodate them. That would count on how many income it is.
If we met a person, I’d kind of feel them out. You can tell who’s perplexing to make a discerning buck, and who’s perplexing to indeed build a attribute and gamble by we consistently.
PS: So we take my action, nonetheless it’s on credit. Suppose we can’t compensate up? Is that a problem for we or a problem for me?
Tim: Both of us. But we theory it’s some-more of a problem for we given we owe a money. If we owe me a money, and we can’t pay, I’m gonna ask we to set adult a remuneration plan. Back in my heyday, I’d get angry.
PS: Well, nonetheless “your heyday” – you’re usually 29, right? So “your heyday” was when we were how old?
Tim: Early twenties. we mean, that’s when we was unequivocally into it. That was my categorical source of income. we suspicion we was using some unequivocally legit, large business.
PS: Well, not wholly legit.
Tim: Not legit, nonetheless we consider I’m using a business, we know.
PS: So what did we do? What’s a misfortune we did?
Tim: Go to a person’s house, wait for them to go to their car, and and chuck ‘em a integrate good ones.
PS: You mean, strike ‘em. They’d compensate after that?
Tim: Yes, he did compensate me. This was someone we knew when we was younger. we had usually paid them a lot of income recently, so it unequivocally burnished me a wrong way. It was not unequivocally about a income and some-more about my possess ego and honour and principle.
PS: Did we ever take that person’s movement again?
Tim: No. You don’t wish a headache. You’re in this for a money. You’re not in it to enhance your business or be a man around town. It’s particularly a financial thing.
PS: You don’t wish to be a enforcer.
Tim: Ehhh, we mean, I’m not removing paid to do that. That’s additional work! It’s ostensible to be like really easy side income, we know? …And as we got older, we was like, “I’m not gonna go kick ‘em adult myself, so given don’t we compensate someone else to do it?,” and have them contend that it was me?
Why Deal With an Illegal Bookie?
PS: Why do people gamble with people like we rather than go to Vegas?
Tim: There are several reasons why. A, they have no entrance to to place a bet. So it’s convenience. B, we would offer reduce juiced lines.
PS: In other words, we gamble $107 to get a $100 as against to betting $110 to get $100?
Tim: Yes. And some are people who would keep losing to me, so we would cut them discounts, ’cause we feel bad. Also, a lot of people don’t have a income that they’re betting. So, in Vegas, we gotta go put adult a income to make a bet. Other people, they kinda like to make a gamble and wish they win, and if they lose, go and hasten and put a income together.
PS: And of course, if we gamble illegally, we don’t have to compensate taxes.
Tim: No taxes, no.
Why You Shouldn’t Deal With a Bookie…
PS: How is it that, as a bookie, we consistently win? That is, over a elect we get on a bets?
Tim: The residence always wins unless a home group goes on some run. When we contend that, we mean, if I’m goin’ outta New York, if a Knicks won 50 games in a row, and they win a NBA Championship, a bookie would substantially remove money. Because all a New Yorkers are betting on their team. Okay?
PS: Even nonetheless it’s undiscerning to do so.
Tim: In general, a bookie wins, and Vegas wins given you’re already losing $10 dollars on each $100 bucks we bet.
PS: The bookie’s commission. Aka a juice, or a vig, as it used to be called.
Tim: Also, many people have no self control, and they’re usually gonna keep betting and betting and betting on some-more nonsense, so that elect adds adult over time.
Another reason is that a guys creation a lines know some-more about a games than a infrequent fan. You competence think, “Hey, we watch SportsCenter, we know what’s going on, we know who’s gonna win this week.”
But these guys creation a lines – they’re smarter than you, it’s their job, and they’re gonna make it perfect. And there are infrequently lines out there that are called traps. They’re perplexing to trap we to make a wrong bet.
PS: And so we aren’t usually holding a commission. You’re on one side of many bets?
Tim: Yep. Definitely. You’re rooting for a Bills, a Browns, a Jaguars – those, those are your teams.
PS: The underdogs.
Tim: The bad underdogs. Those are a guys that make we a money. You know? You competence consider of it like guys who are operative on a batch market: they know when to remove a stocks. When a bonds go a certain way, they burst on these things. It’s kinda a same principle.
The Patriots contra a Seahawks?
PS: Well, Sunday is going to be a Superbowl.
Tim: People are gonna gamble on a Patriots. People gamble on them a lot. For some reason, people don’t like Seattle.
PS: So, then, a residence will win, we will win, if Seattle wins?
Tim: we don’t know yet. You don’t know until 5 mins before a diversion starts who accurately you’re rooting for given we competence have one man on your piece who bets some-more than everybody else combined. It’s what he bets on.
PS: Ah, given you’ve got to gamble on a other side from him?
Tim: Yeah. we kinda like Seattle myself. And I’d substantially gamble them heavy. So this way, I’m removing a giveaway juice; actually, you’re profitable a juice.
PS: So we consider Seattle will win on Sunday? Why?
Tim: we feel like given New England got held intrigue — and something always goes wrong in their large games now. They mislaid to a Giants twice… Something’s off, we know? They usually had this small liaison going on —
PS: Not so little.
Tim: Yeah. You’re ostensible to be focusing on a preparations for a game, and they’re focusing on how many ounces were in their football. we just. No one gives Seattle any credit. They’re a good football team.
PS: Well, they won a championship final year.
Tim: Yeah, so we don’t know. …I consider they’re gonna win again.