Reflections on the Life of a Hustler

Part 2


In the old days there was very little money to be won at sanctioned tournaments. A guy like Willie Mosconi could beat the world and barely make enough to cover his expenses. Now the television people had plenty of money to throw at the top players in head-to-head matchups. It made for great television, but the players were forced to show their best competitive game instead of trying to hide their true talent in order to bait suckers.

I decided not to play this game. First of all, my strength was in the old Chicago-style hustler games like One Pocket and eight ball, giving and taking spots, conning suckers. I had never been among the masters at straight pool or Nine Ball, and these were the kinds of games the TV people wanted to feature. Secondly, as I was getting older, I could tell that my interest was beginning to fade away just a bit. This is true in all sports. When you are young you have more stamina, stronger nerves, better eyesight and so forth. You can beat Father Time for only so long. I could still play well enough, but I knew that my future lay in some other business. From the days when I was a kid on the North Side of Chicago, I had always enjoyed sports playing games sports myself and

watching the Pros in action. Organized sports had not been a big part of my childhood in Austria after the War. For one thing, people who are poor and hungry after years of war have very little time for leisure activities like sports. We had no money for uniforms, balls, shoes and the other equipment, which is necessary to play even a sport like Soccer. Nowadays Europe is crazy for sport, but in those days, it was a luxury. When I came to the United States, I quickly noticed that sports were very popular. The schools sponsored football, basketball, baseball and other teams. This was unheard of in Europe.

And then the radio, the newspapers and later television were full of sports. Chicagoans seemed to have plenty of money and free time to attend Cubs and White Sox baseball games, Bears football games, Blackhawk hockey games. College football was a big deal people would go down to South Bend on the train to watch Notre Dame Football games. The Chicago Stadium would be packed for college basketball doubleheaders and later on the Stadium would rock for Bobby Hull and the Blackhawks, for Michael Jordan and the Bulls.

Chicago was always a red-hot sports town. People in bars and restaurants argued passionately about their favorite teams. Bookmakers would hang around the pool halls booking bets on the big boxing matches that were held at Chicago Stadium and in the ballparks. There were also several racetracks around the city Washington Park, Arlington Park, Hawthorne, and Maywood. In summertime the grandstands would be packed for the big stake's races.

I started belting on sports before I started playing pool because you had to be 18 years old to play in pool rooms. Wrigley Field, where the Cubs and Bears played, was my classroom in learning to bet sports. They Carnivals was my Harvard and Yale education. And I was number one. I learned all the tricks and gaffs you needed to know how to win at anything you gamble at. I'd first become familiar with the neighborhood around Clark and Addison when I shined the shoes of fans coming in and out of the ballpark. Occasionally people would give me tickets and I'd go inside to watch the action.

Everything about Wrigley Field excited me. The emerald, green grass, the ivy-covered red brick walls, the roar of the crowd on a hot summer day the place fascinated me, and I was always happy to spend a few hours there. The way my mind worked, though, I was never content to sit around drinking beer in the sun. I wanted to learn the ins and outs of the games and how to bet them for a profit. There was no better place to do that than the right field bleachers at Wrigley, because I soon discovered a group of regular bettors who hung out there every day. Many of them were old timers who knew the game of baseball inside out. You could sit next to them for hours they were professors of baseball, and their lectures were well worth listening to.

They loved to bet on anything that happened during the game. Of course, they would bet on which team would win or lose they had the bookie's odds on that well before game time. They would also bet over/under on the final score, which at Wrigley Field could depend a lot on the wind blowing out of the prairies or in off Lake Michigan. You had to be a weatherman as well as knowledgeable about pitchers and hitters. They would also make all kinds of proposition bets, many of them invented on the spur of the moment. Would the next batter make out or get a hit? If he made out, would it be by a fly ball, ground ball or strike out? Was he more likely to strike out or walk? How many total runs, hits and errors would there be in the game? Would there be a score in the next inning? Which team would hit the most home runs in the game? The possibilities for betting were endless and depended only on how agile your mind was in coming up with proposition wagers that might give you an edge.

It was a battle of wits among what seemed like two groups of bettors. One group knew what they were doing and how to bet smart. The other group were guys who just craved action, who needed to make bets any kind of bets in order to keep themselves in a state of excitement. In other words, there were a group of winners and a group of losers. It didn't take me long to decide which group I wanted to belong to.

To be continued:
 
Part 3

The same principles applied to sports betting and pool hustling you developed knowledge and skill enough to know what you were doing. Then you began to look for opponents who not only did not know what they were doing but weren't self-aware enough to understand their own ignorance. In other words, you looked for marks, for suckers, and for addicted gamblers who couldn't refuse a bet any more than an alcoholic could refuse a drink. You’d be surprised at how many guys will bet their favorite teams to win no matter what ridiculous odds they are given.

Up at the pool room on Howard and Paulina in Rogers Park, every weekend in the fall there'd be a bunch of rich suburban kids who didn't know their ass from a hole in the ground when it came to football point spreads or money lines. But they wanted to bet on the Bears to win no matter what. If the Las Vegas line was Bears + 3 (that is, the Bears an underdog where anyone backing them should be given a 3-point bonus) these kids could be persuaded to bet the Bears to win even if you were only willing to spot them +2 or +1. Or maybe they'd argue with you for a couple of minutes. "I saw in the Tribune where the Bears were plus three!" All you had to do was tell them a lot of late money had just come in on the Bears and this had shifted the line. Take it or leave it. If you just waited them out, they'd take it, because they couldn't stand the idea of not having some kind of bet down at kickoff time. The money was secondary to them. It was just an entertainment expense. But to me, more and more as I learned what to do, it was a numbers game and all business.
 
CHAPTER 18:


Vegas Bound


In 1984, when I arrived in Las Vegas for good, the sports betting business was booming. In the old days the Nevada bookmakers had operated a handful of free-standing betting shops downtown and along the Strip. These were sort of dingy, small-time operations that competed for a clientele of mostly hard-core gamblers. They were a bit like the old-fashioned off-track horse parlors, not very welcoming to women or tourists. The restrooms were as primitive as the language that ran through the joint. All the odds-on games and races were scribbled up on chalkboards by hand. There were cigar butts carpeting the floor and panhandlers camped out at the entrance looking to mooch a few bucks off the winners. But once the major Strip casinos started putting their own sports books inside the casinos, everything changed. And there was no messenger betting laws for runners.

Now the idea was to attract tourists, young people, women, sports fans of all kinds. And the use too says the reason they had sports books was for the convenience for their customers to keep them in their casino. It was all new to the casino's sports book betting. And they didn’t know what they were doing. The setting became more like a movie theatre with comfortable seats and huge screen displaying the action. The chalkboards became light displays of ever-changing numbers twinkling in red and green. The marble and cherry wood restrooms looked like something out of the Roman baths. The casino offered all the sports book patrons free drinks, and the heavy bettors got free rooms and free food. Everything was set up to encourage the customer to stay in the casino gambling on sports or craps or blackjack.

Why had the sports book business changed? One of the main reasons had to do with taxes. In the 1970s, the federal taxes on sports book winnings had been cut from 10% to 2%. Then in 1983 it was cut again, from 2% to 0.25%. These tax breaks resulted in making sports books much more profitable for the casinos. Then there were all the technological advances like satellite television, computerized tabulators and so forth.

Sports bettors, especially the recreational bettors, want to bet on games that they can watch on television. In the old days there were only a few games each week that were available for viewing either at home or in the sports book. Once the satellite dishes and cable networks came into being, there were hundreds of games to watch seven days a week. This meant that bettors bet more money on more games. Meanwhile America was becoming more sports crazy than ever. The Super Bowl, the NCAA basketball tournament and other big events attracted people to Las Vegas for weekend splurges at the sports books. On the first two weekends of the NCAA basketball tournament you could sit in a sports book at Bally’s, Caesar's or twenty other Strip casinos and watch nearly 100 tournament basketball games. Of course you could bet on each one of them, not only on final score point spreads but on half time spreads, over/under totals, parlay cards, teasers, etc.

On any Saturday afternoon in the fall, you could watch practically every Division 1 college football game being played across America. And you could bet on every one of them—which amounted to hundreds of wagering propositions. You could start watching and betting at nine o'clock in the morning and continue on until the final west coast games ended around ten o’clock at night. Then you could come back on Sunday and watch every NFL game being played that day between 10 am and 8 pm. Of course, you could put down thousands of dollars on a variety of wagers for every one of those games.

The casino sports books were packed with bettors and fans every weekend from late August until after the Super Bowl the first week in February. More than five solid months of action on America’s favorite sport. All the tickets were handwritten when they first started. But the computer age changed everything. From the old chalk back boards to handwritten tickets. Obviously, a good percentage of those customers would be wandering out of the sports books from time to time. But in order to put in a little extra gambling time they would not even have to leave the air-conditioned comfort of the casino. The craps, blackjack and roulette tables as well as the bars, restaurants and the showrooms were only a few steps away.

Las Vegas itself was becoming a huge tourist destination, with people flying in from all over the world. Now all the casinos and there were new ones opening their doors every year wanted to offer fancy sports books. This expanding situation was good for the casinos, bottom line. But it was also an opportunity for sports gamblers who knew how to take advantage of the growing pains in a new business. Because the casinos were falling all over themselves to get their books up and running, they were hiring a lot of inexperienced sports book personnel managers, bookmakers, odds makers who didn't know enough about setting and moving betting lines to offset the maneuvers of wise guy bettors. They even put up the wrong favorites. And didn’t take the lines down once the games started. They had no clue what to do. I could have gotten a top supervisor's job then just by what I knew, and I was offered many jobs as a supervisor, but I declined.


To be continued:
 
Part 2


The vice president at Caesars Palace even asks me what I would do if I was setting up the sports book. And I said I would make it look like an Arena back in the Gladiators days. And but big screens and lounges and slot machines everywhere then people could watch the games and play slot machines. And spread out he sports book and the horse books. And on the day off a big fight open up all the windows and take all the fight bets and props. Because the way they did it the lost a lot of business and money. And a lot off customers got aggravated and left and even went too another casino. And the same thing happened in football season with the parlay cards. All the customers did not get satisfied. And the casino lost a lot of money. If I ran their sports book they would have made so much more money.

You couldn’t imagine because of what I would have done, and I would have gotten all the business. And I would have had the correct odds and lines. And higher limits and more props where they could lose their money at betting. Even sports slot machines. There are all kinds of things they could have done. Because off all the people betting. And made a special room for the high rollers and the wealthy. You could have set up a room and made them feel like they were kings. But it is what it is. And Steve Wynn had some off those Ideas and they are great. But they are mostly for the outside off the casinos. And the key is to keep them in the casino.

In the 1980s when l first settled in Las Vegas there were about a half dozen big casino sports books at the Stardust, were the lines originated Caesar's Palace, the Flamingo, MGM Grand, etc. Eventually they all had sports books when the newer spots like the Mirage and Mandalay Bay weighed in. Nowadays there are many more books, with new ones coming online every year. At first, each of the casino books made up their own lines. They varied quite a bit.

What the casinos should have done instead off the big bettors getting a hold off the sharp handicappers and odds makers the Casinos should have gotten a hold off the odds makers. And the computer people making the prices. But the bettors had the sharp line makers not the casinos. And all the casinos should have only used one solid line, and they would have gotten all the money. But they were never smart enough to figure it out. And they wouldn’t have had to go through all that crap with runners. And all the illegal laws they made.

For example, during pro football season you might get an opening line Monday morning at the Stardust of Chicago Bears - 2.5 vs. Green Bay. If it was a poorly thought-out line and this happened often the smart early bettors might quickly force the casino to alter the line to -3 or even to -3.5. If that happened the smart bettor could "middle" the game. In other words, he could have bet big money on the favored Bears at -2.5, which helped forced the line adjustment in the first place, and then once the line adjusted, he could bet an equal amount on Green Bay at +3.5. If Chicago, then won the game by three points a likely possibility the bettor would win both bets. On two bets totaling $220 (that is $110 on the Bears at -2.5 and $$110 on Green Bay at +3.5) he would receive a payout of $420, which amounts to a profit of $200. If the game ends by any other score, the bettor wins one bet and loses the other, so that he ends up losing the $10 juice on one bet.

A skeptic might say, and rightly so, that using such a system the bettor will lose more often than he will win. This is true. The Bears winning by exactly three points may be the likeliest outcome, given the relative strengths of the two teams, but statistically it is still more likely that the game will end by any other score. However, statistics also tell us that about 14% of pro games DO end with a margin of three points and that about 8% of those have the favorite winning by three points! So, in order to middle the favorite to win by three points, I have roughly a one in ten probability of a $200 profit. You are getting a 20 to 1 shot that you shouldn’t even be getting 10 on 1 on your bet.

If probability says that for every nine of these bets I lose (a total of $90) I will win one for a profit of $200. It's simple arithmetic! If for every $110 you bet (ten bets at $110) you can expect a profit of $200, just figure how much you stand to win if your bets are ten or twenty times higher than the standard $110! Bottom line: if you can find enough "middles" to bet you can make a great living betting them EVEN If YOU KNOW NOTHING ABOUT FOOTBALL! You don't have to be an expert on sports; all you need to understand is basic arithmetic. A -2.5 points and + 4 points is a great middle with 10cent juice. Of course if it was all that easy to do, everybody would be doing it. In the old days when casinos put up their own lines it was easier because you could shop around at all the different sports books to find these kinds of numbers, and, 6 lines middles, etc. It was a hustle, but like all hustles you had to work at it to be successful! And the better your lines the more you would win.

To be continued:
 
Part 3


At first, I spent hours every day walking in the hot sun between the Las Vegas sports books in order to tabulate all the lines and probe for weaknesses. There was no other way to do it. Back in the 80s you had to be there physically at the sports book, eye-balling the lines on the board. If I drove a car back then it would have been a lot easier, but I didn’t drive at that time. Nowadays there are computerized sports services, which allow you to sit in the comfort of your own home and keep up on all the line changes instantaneously. But almost all the lines are the same. So, it is hard to middle games, and you need different lines to do that.

Later on, when I'd become halfway successful working the books on my own, I was able to hire other people to cover the sports books. I would communicate with them by walkie-talkie or telephone. When we would find advantageous lines, I would order them to place bets for me. All we did was bet different lines to make middles or different prices to scalp the money lines. It was all about the different prices. Without the different prices none of these things could have been done.

It was like running any small business l had employees and I told them what to do. Sometimes they used our information to make bets for themselves, and they made a good living. Runners were people who didn’t have a life. And being a runner gave them something to do. And they felt worth wild. And they spent all day just making bets and looking for good prices. Digging out the golden nuggets called “middles" became my trademark, to the point where I became known in Las Vegas as "***** the Midler”. I was successful for the same reasons I had been successful as a pool hustler I mapped out a logical plan and worked hard to reach my goals. I learned the tricks of the trade and applied them consistently. I treated my employees well and in turn they rewarded me with loyalty.

I tried to get along with the bookmakers and managers in the casino sports books. Why not? They were my customers every bit as much as I was their customer. If they wanted to pay me with free drinks, free food, free rooms and other perks in exchange for wagering thousands of dollars at their sports books, I was willing to treat them decently as well. As I had learned long ago, the best way to take people's money is with a modest shrug and a smile and keeping them happy. Don't get people stirred up against you. Eventually though, I was taking so much of their money that they began thinking up ways to stop me. But I'll get to that part of the story later on.
 
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CHAPTER 19:



It’s all about the Numbers



The theory of "middles" holds true for sports other than football. In pro football, there are certain key point spread numbers you look for. For example, the numbers 3, 6, 7, 10 because the scoring values in football (three points for a field goal; seven points for a touchdown plus extra point) means that many games end by those margins of victory. So, you look to middle those numbers especially. Point spreads are also used for setting lines on basketball, so you might try to use a similar system when betting that sport. But middling works best on football, because you can focus on the "key numbers” which do exist in basketball too.

Baseball betting is mainly on the so called "money line", which means you are betting on a team to win or lose the game at specified odds. For example, let’s say that the New York Yankees are playing at home against the Boston Red Sox and the posted starting pitchers are rated about even. If the two teams and the starting pitchers are rated about equal, the Yankees will be listed as slight favorite because they are playing at home and have last bats.

Let's say the line for such a game is New York -120/Boston +110. This means if you want to bet on New York to win, you must bet $120 to win $100. If you want to bet Boston to win you must bet $100 to win $110.The discrepancy the "juice" tax charged by the bookmaker for handling your bet allows the bookmaker in Las Vegas to make his profit. Providing, of course, that roughly 50% of the money wagered is on New York and 50% on Boston. Obviously, if the bookmaker is altering his line in the hours before game time, he is doing it in order to maneuver the bettors into placing around 50% of the total wagers on each side. If he is successful in doing this, he is guaranteed a profit on the game.

However, as in the case of the Bears pro football game mentioned above, sometimes large bets may come in on one side, tempting the bookmaker to alter his line in a way which puts him at risk of being middled. Let's say somebody bets $120,000 on the Yankees at -120 and this suddenly results in the book carrying $120,000 more on New York than on Boston. The bookie may alter his line to Yankees -130 or even -140 in order to attract more money on Boston, which now is offering a good value at +120 or +130. Now I have a chance to "scalp" this game. If I happen to be the one who got down the $120,000 on the Yankees at -120, when the lines changes, I can bet the Red Sox at +120 or +130. (It goes without saying that in order to have a chance at manipulating line changes through your wagers, you have to be able to bet considerable sums of money!) You also have too no witch way the line is going to move. Let's say I wind up with $120,000 on the Yankees at -120 and $100,000 on the Red Sox at +130. If the Yankees win, I collect $100,000 on that bet and lose $100,000 on the Red Sox bet. It's a wash. If the Red Sox win, I collect $130,000 on the Red Sox bet and lose $120,000 on the Yankee bet. Thus, I've won $10,000 at no risk of losing anything!

Again, although we're dealing simple math if it were that easy everyone would be doing it. The sports books would be out of business in no time. If, however, you can accumulate enough information on enough sports book betting lines with the money to back it up it, it is possible to find just such sure-fire nuggets. Or at least you could back in the 80s and 90s. You could find enough of them to make a good living, but you usually needed help from so-called "beards" or "runners", the people you employ to report online changes and to bet for you in the casinos. You needed the runners for two purposes. First of all, they could report back to you by phone on what betting line changes were being made on the boards of all the sports books. Secondly, they could place bets for you, which cumulatively might add up sums large enough to influence line changes.

Frankly, as a “middler” you are often playing a cat and mouse game with the line makers at the sports books. They impose individual bet limits on the customer let’s say $10,000 on a baseball money line bet as a way of forestalling line manipulation by the bettor. The line maker does not want a sudden influx of big money on one side because he then feels obligated to make a significant change in the line. Of course, it is just this significant change that the scalper is looking for as in the case of the New York/Boston example mentioned above in order to create his scalp.

Thus the “middler” is not only looking to “find” advantageous line discrepancies, but he is also sometimes trying to “create” the discrepancies by placing large wagers in order to actually force the line changes to occur. In order to place those large wagers instantaneously at an individual sports book, or at a group of sports books which use the same lines, the “middler” needs runners to place several bets at the individual bet limit say ten bets of $10,000 each for a total of $100,000 which might add up to enough money to alter the betting line.


To be continued:
 
Me too! I'm learning a lot more here, thanks to Billy, about someone who I only knew as a legendary money player from Chicago. I do know about some of his outrageous gambling escapades in Vegas, second only to Archie in money won....and lost. What a life he lived!
 
Thanks for posting for us! I can't wait to go home, hit my recliner, and start enjoying these.
 
CHAPTER 18:


Vegas Bound


In 1984, when I arrived in Las Vegas for good, the sports betting business was booming. In the old days the Nevada bookmakers had operated a handful of free-standing betting shops downtown and along the Strip. These were sort of dingy, small-time operations that competed for a clientele of mostly hard-core gamblers. They were a bit like the old-fashioned off-track horse parlors, not very welcoming to women or tourists. The restrooms were as primitive as the language that ran through the joint. All the odds-on games and races were scribbled up on chalkboards by hand. There were cigar butts carpeting the floor and panhandlers camped out at the entrance looking to mooch a few bucks off the winners. But once the major Strip casinos started putting their own sports books inside the casinos, everything changed. And there was no messenger betting laws for runners.



Why had the sports book business changed? One of the main reasons had to do with taxes. In the 1970s, the federal taxes on sports book winnings had been cut from 10% to 2%. Then in 1983 it was cut again, from 2% to 0.25%. These tax breaks resulted in making sports books much more profitable for the casinos. Then there were all the technological advances like satellite television, computerized tabulators and so forth.




To be continued:
I am old enough to remember some of this era in Las Vegas. But I was a kid and didn’t have the bankroll or inclination to bet sports. Probably good since if I had the inclination I probably wouldn’t have a bankroll. But I was fascinated by Little Caesar’s on the south end of the strip. I could go there and play $1 blackjack and get a cocktail (auto correct tried to put in “cockroach” there, LOL) and see the goings-on. A dingy place that took big sports bets. Just a handwritten board at the desk. But guys with expensive loafers and pinky rings would be on the pay phone outside writing in a little notebook. Hmmmm…? Later I found an internet thread where guys were talking about “Mayday” and layoff bookmaking and how things were in sports betting back in the day. Interesting stuff.

Sounds like this was similar to Billy Walters in some ways, but not as much focus on the handicapping itself. The Walters autobiography was a good read.
 
I received an unexpected very enjoyable call from a Very good old friend today!

He seemed excited about the previewing of this book and gave me His 'Stamp of Approval'!

Himself being an accomplished Author!

We 'Cut up Jackpots' about the 'Old Days' Hustling, and how it's a 'Lost Art' nowadays!

We wished each other the Best, and He wanted to see what the next few months will bring with my project.
 
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Me too! I'm learning a lot more here, thanks to Billy, about someone who I only knew as a legendary money player from Chicago. I do know about some of his outrageous gambling escapades in Vegas, second only to Archie in money won....and lost. What a life he lived!
Difference is one knew how to keep the cash, the other one didn’t……

I miss Vegas, it’s all over with now🥲
 
Everyone, I'm going to 'Slow my Roll' here on the book.

I have a couple of medical procedures coming up soon.

I'll be back at it soon.

Bill, You can number me among your well wishers on the procedures. In all honesty they aren't nearly as rough as they used to be. Nowadays I just go in and tell them to wake me up when it is over!(grin)

Hu
 
Bill, You can number me among your well wishers on the procedures. In all honesty they aren't nearly as rough as they used to be. Nowadays I just go in and tell them to wake me up when it is over!(grin)

Hu
Unfortunately this particular procedure, I'll only be under 'Twilight' sedation!
 
Everyone, I'm going to 'Slow my Roll' here on the book.

I have a couple of medical procedures coming up soon.

I'll be back at it soon.
Best wishes on your procedures, this is for you and everyone here who is having procedures done. if you haven't researched the people doing them, I suggest you do yourself a big favor and check them out , just like everything else ,not all doctors are created equal. And they are like lawyers, they almost never go after each other. I found this out the hard way, luckily it just caused me a lot of pain, not my life.
 
Everyone, I'm going to 'Slow my Roll' here on the book.

I have a couple of medical procedures coming up soon.

I'll be back at it soon.
I’m being a little selfish here….I hope your medical difficulties work out well….because I want to read more of what you’re writing.
I know of whom you write….gambled at Bensingers when I was a kid…I was a snooker player but I did pretty good at 9-ball on a 5x10 pool table.
 
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