![]() ![]() ![]() You don’t want to be seen on camera with me.” Why not?, I ask him, trying to mask my concern. We stop at the edge of the Ocean Casino at the end of the boardwalk. But you’d be surprised how many people have trouble with that.” I don’t tell him that I wouldn’t be surprised at all. What if I said you should bet the Lakers +7 and the number is 7.5, do you bet it?” “Yes,” I answer, this time more confident I was right. “If I said you should bet the over at 134.5 and you see the number is 135, do you bet it?” “No,” I respond, not entirely sure whether I got it right, but careful to not show any hesitation. Then I can see firsthand how the corporations that are taking over the sports betting industry in the United States have killed off the art of bookmaking, and how they’re killing off the professional sports bettor in the process.Īs we walk down the Atlantic City boardwalk on a cold Monday night in March, the 40-year-old Spanky quizzes me on my knowledge of sports betting. He and I will pool our money, with me putting up 1 percent of the stake, and he will show me how to bet like a pro. But the way the business is taking shape in the United States troubles many professional gamblers, including Spanky, who has invited me to Atlantic City so I can learn more about what he calls the “dying art form” of bookmaking. Seven other states have moved quickly to follow New Jersey’s lead, with 29 more currently considering sports-wagering bills in their state legislatures. There are now 10 physical and 14 online sportsbooks in New Jersey that have collectively already handled more than $1.5 billion in wagers. New Jersey, where Spanky has lived his entire life, was one of the first states to do so, and in less than a year it has experienced a gold rush. Last year, the Supreme Court repealed the Professional and Amateur Sports Protection Act of 1992, paving the way for individual states to lift restrictions and regulate bookmaking. That misunderstanding stands to spread like wildfire. ![]() It’s important to Spanky that I understand the difference between bookmaking and betting, because a lot of people don’t understand or appreciate the distinction, including the Queens district attorney, who charged Spanky with bookmaking in 2012, a charge he says stemmed from a widespread misunderstanding of this business. “I mean, it’s probably an edge of, like, $12, but if you were walking down the street and saw $12, you’d bend down and pick it up, right?” “This is some real insider shit I’m showing you right here,” he tells me, referring to his spreadsheet, which has formulas for dozens of different slot machines plugged into it. On his cellphone he consults a spreadsheet that tells him how to play this particular machine so that it is “plus EV,” or positive expected value, meaning the player has an edge over the machine over time. “And I snipe ’em.”ĭespite the bag full of money, Spanky is transfixed by the penny slot machine, pumping one bill after the next into it. “Bookmakers hang a number,” he explains, as he pantomimes holding a gun sight up to his eye and pulling the trigger. ![]() It’s filled with bricks of cash, nearly $150,000 worth. His backpack, however, isn’t carrying school books and snacks. He’s known throughout the gambling world by the name Spanky, and in his hoodie, sweatpants, and backpack, he very much resembles a 40-year-old version of the Little Rascal. He bets millions of dollars each year on sporting events, from NFL games to the Nathan’s Hot Dog Eating Contest. “I’m a sports bettor.” Kyrollos is actually one of the highest-rolling sports bettors in the United States. “I am not a bookmaker,” Gadoon Kyrollos tells me as we walk through the Hard Rock Casino in Atlantic City, playing penny slot machines. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |