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The Secret Life Of A Bookie

Not All the Big Bets Are on Wall Street
Marvin R. Shanken
From the Print Edition:
James Woods, May/Jun 97

(continued from page 2)

CA: What about special events such as the Super Bowl, or the big college bowl games, or a big boxing match, like Tyson versus Holyfield?

Pete: There's little betting done on boxing today. First of all, the lines are just so inaccurate. They start out so high, 20- or 18-to-1. People like me don't like to put up that kind of money, and believe it or not, there is a bad stigma to boxing. People don't trust the sport now. So, there's very little wagering.

CA: Give us an example. For instance, the Holyfield-Tyson fight. What was that like?

Pete: It opened 25-to-1 and went to 6-to-1. Somebody made some money.

CA: OK. But Trump goes on the news saying that he bet a million bucks and made 20.

Pete: Not true.

CA: Not true? But is there any way of...

Pete: Absolutely. If any substantial wager is made in the country, we know about it. I don't care where the wager is made.

CA: You know this because of your contacts in each of the casinos, and so forth?

Pete: Because the fluctuation in money is the dictator for the lines. You see the money. Everybody in the business has become very close, let's call it a camaraderie, even though it's competitive. Everybody finds out.


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