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lfigueroa
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08-22-2019, 02:47 PM

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Originally Posted by jay helfert View Post
So here's the scoop, which can be told today. Artie, who had no formal education to speak of, figured out that the Books were making incorrect/bad lines on many of their proposition (prop) bets and he could take advantage of that. He had confederates in various sports books comparing notes with him and he might make bets both ways to "middle" the line. This way he could also bet more, using the limits that each book placed on individual bets. Let's say the betting limit was 3,000 and he had eight guys helping him. They could now bet a total of 24,000 on that single action. Artie was the guy who wised up the books and all those high line handicappers to the error of their ways. He did them a favor in the long run, and to repay him they found a way to clean him out. He got taxed and penalized MILLIONS! Why, because he outsmarted the casinos.

Yep — he became somewhat infamous as Artie the “Middler.”

Lou Figueroa
  
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Sounds like a parley
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Sounds like a parley - 08-22-2019, 04:18 PM

Quote:
Originally Posted by lfigueroa View Post
Yep — he became somewhat infamous as Artie the “Middler.”

Lou Figueroa

It sounds like by betting with different books with different odds he was able to set up parleys. Happens in the horse world with a single betting parlor once in a blue moon, by betting right it is impossible to lose. Huge amounts would be bet both ways and in less tolerant days the person setting the odds might go to swim with the fishees.

Hu
  
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Wink 08-22-2019, 04:59 PM

Great post Jay,I haven't heard mention of Rocketman or Mike Bandy (a great 40+hr a week working family man)who could play.Tom got me to come to Marie,s and set me up with Wendall Wier.Another character . I started this thread just wondering about Artie never suggesting he was the G.o.a.t .But i know he knew how to get the cash.Thanks to all who actually did know and see Artie play and made this thread fun If Artie gave you 8-7 you needed 9-6. If he was getting weight it was a trap or bait.
  
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08-22-2019, 05:02 PM

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Originally Posted by ShootingArts View Post
It sounds like by betting with different books with different odds he was able to set up parleys. Happens in the horse world with a single betting parlor once in a blue moon, by betting right it is impossible to lose. Huge amounts would be bet both ways and in less tolerant days the person setting the odds might go to swim with the fishees.

Hu

He was a master at it and made huge dough.

I believe he did jail time for it (wrong or right) but I could be wrong.

Lou Figueroa
  
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08-22-2019, 11:31 PM

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Originally Posted by pt109 View Post
When I read the second part of your post, Hu...Larry McMurtry flashed into my mind.

Attachment 527793

Seems like Dairy Queens are the Starbucks of rural Texas...and that’s the part of Texas
I know much better than the big cities.
Read the book, Hu
His son is super talented too!! I have seen this guy play a bunch of times.

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08-23-2019, 05:08 AM

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Originally Posted by jay helfert View Post
You don't get let out much, do you.
So sorry, Julius, you're wrong again.
Your pool room 'heroes' didn't have enough brains to come up with how to middle a bet.
People been putting football bets in the middle since the 40's when the games came in on the Western Union wires.
Man, you are ignorant about those things. You shoulda' went ahead and became a doctor instead of loafing in pool rooms.
Have a nice day.


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08-27-2019, 06:13 PM

He’s selling his diamond table on Facebook
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08-27-2019, 07:39 PM

Quote:
Originally Posted by jay helfert View Post
So here's the scoop, which can be told today. Artie, who had no formal education to speak of, figured out that the Books were making incorrect/bad lines on many of their proposition (prop) bets and he could take advantage of that. He had confederates in various sports books comparing notes with him and he might make bets both ways to "middle" the line. This way he could also bet more, using the limits that each book placed on individual bets. Let's say the betting limit was 3,000 and he had eight guys helping him. They could now bet a total of 24,000 on that single action. Artie was the guy who wised up the books and all those high line handicappers to the error of their ways. He did them a favor in the long run, and to repay him they found a way to clean him out. He got taxed and penalized MILLIONS! Why, because he outsmarted the casinos.
Dead on -- if you google it comes up. Scroll down into this article for example:

https://lasvegassun.com/news/2001/oc...y-in-fbi-case/


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08-27-2019, 07:58 PM

Quote:
Originally Posted by jay helfert View Post
So here's the scoop, which can be told today. Artie, who had no formal education to speak of, figured out that the Books were making incorrect/bad lines on many of their proposition (prop) bets and he could take advantage of that. He had confederates in various sports books comparing notes with him and he might make bets both ways to "middle" the line. This way he could also bet more, using the limits that each book placed on individual bets. Let's say the betting limit was 3,000 and he had eight guys helping him. They could now bet a total of 24,000 on that single action. Artie was the guy who wised up the books and all those high line handicappers to the error of their ways. He did them a favor in the long run, and to repay him they found a way to clean him out. He got taxed and penalized MILLIONS! Why, because he outsmarted the casinos.
Ex brother-in-law, gambling degenerate, used to do basically the same thing back in the 70s, maybe still doing it. He had a few friends in different cities and, let's just say NY was playing LA and the spreads or lines were in favor of the home team, he'd bet the NY side in LA and the LA side in NY, he's hope to hit the middle...called it a "mouse". Worked occasionally, but mostly he paid the "vig".
  
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separate bookies down here
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ShootingArts
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separate bookies down here - 08-28-2019, 05:27 AM

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Originally Posted by jimmyg View Post
Ex brother-in-law, gambling degenerate, used to do basically the same thing back in the 70s, maybe still doing it. He had a few friends in different cities and, let's just say NY was playing LA and the spreads or lines were in favor of the home team, he'd bet the NY side in LA and the LA side in NY, he's hope to hit the middle...called it a "mouse". Worked occasionally, but mostly he paid the "vig".


Down here sometimes private bookies are setting their own odds with inside information to make a parley possible. A lot of catches to that, starting with private bookies being illegal. Most cap the odds they will pay also, ten or twenty to one last I knew. Seemed to be a sideline of barbers down here, or maybe more accurately the barber shop became the sideline! The dummy at the end of my street took thousands in bets while a police officer was sitting in the barber chair! One bookie ran a used car lot too. Like anyone making a lot of illegal cash the hard part was laundering the money.

Sounds like they probably got Artie on taxes, very possibly on money he didn't make! I remember a man hitting the slots for milllions over three days, he ended up with a whole line of people feeding slot machines for him. Originally uncle sam came after him for all of the payouts that had been recorded, ignoring the fact that almost all of it had been put back in the machines. He still won a few hundred thousand in the sixties or seventies, a nice score for a desert rat but nothing like the original claims that just noted his winnings without his losses. Something like this happened now and then and of course Vegas made major hay out of all of the customer big wins without detailing their losses.

Hu
  
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