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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 6)

CA: Have there been certain teams that have consistently not covered their spread?

Pete: Yes, you read the newspaper, watch the TV, you know who they are.

CA: Are you an independent businessman?

Pete: Yes.

CA: So you are not part of a group or a syndicate around the country, where you basically lay off on a regular basis, to help each other balance the books?

Pete: Absolutely not. We are very independent, and like I say, we don't always balance the book.

CA: Outside of Vegas, where obviously it's legal, how big is gambling? How many bookmakers are there in America? Is there any way of knowing how many bookmakers there are in a city like Boston, or New York, or Chicago?

Pete: Hundreds.

CA: What is a typical bet? How much do people normally bet on a game or on a weekend?

Pete: A normal bet can range from twenty-five dollars to maybe ten thousand.

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