NO ONE WILL ANSWER MY QUESTION!!!!!! help?

Question

PLEASE ANSWER ALL PARTS OF THE QUESTION!!!

what is the person calls that TAKES BETS...he does not bet, just takes other peoples bets and writes them down. what does he do? does he get money from this, since he isnt betting? is this illegal? is this related to the mofia?

Answer 1

The person taking the Bet is called a bookmaker or a bookie for short.  

What he does is he takes and accepts bets.  Once bets are taken he make sures to collect any losing bets and pay out any winners.  His most important job is to Basically balance the books, meaning to balance the bets so he get equal action on both sides of the bet.  

Accepting bets is illegal in most states, however neveda does allow it so most of the big bookmakers are in Neveda mainly vegas.  Of course there are bookies all over the US and everywhere else and a lot of it is run through the mafia, but a lot of it is not as well.  Mafia comes in handy because if you dont pay they have ways of collecting, because its an illegal activity, a bookie is not going to take the bettor to court to try and get his money on a losing bet.  

The bookie makes money because of the Vig or Juice.  The Vig is usually a percentage anywhere from 5% to as high as 20% sometimes higher.   Basically if the vig is 10% and you want to bet on a football game you have team A and team B.  If you want bet $100 on team A, inorder to do so you must bet $110 because of the 10% to win $100.  If you win you get to keep your $110, and the bookie pays out $100.  If you lose you must pay the $110.  Ideally the bookie will get equal action on both sides of a game so that no matter what happens he still makes money off the VIG.  So let say Team A beats Team B,  since he has money on both sides, He will collect $110 from the loser and pay the winner $100, and keep $10 as his profits, and he takes no risk.

Answer 2

are you talking about a bookie?    froim  what i understand  yes he gets a percentage.   he takes others bets  but take a commission of it.   then he calls the field or another who is at the races, ect  and he places the bet.   there are several places in ky  that allow bookies to do this.   i  would suppose that each city/county/state has its  own set of rules.

Answer 3

Most bookies do have a connection to some kind of organized crime. Three reasons why that is the case.

1) To be a successful bookie you need to have plenty of action so you can get even action on both sides. Being associated with organized crime creates a network where you can lay-off action and thus mitigate exposure

2) Bookmaking is very profitable for organized crime so they want to keep a monopoly on it. If I started taking bets an on each sided it was just from a few people I'd be ok but I started to take a lot of action I'd quickly get a visit. I'd be required to pay a fee to organized crime in exchange for the right to keep running my book.

3) Collections. Degenerate gamblers are not really the kind of people that pay debts if they don't have to. Association with organized crime ensures the losers pay.

Edit: How a bookie makes money.

Losers pay 10% vig. The idea is get get even money on both sides. So for example say the Giants are playing the Cowboys the bookie wants to get the same amount on both teams. Then the loser has to pay the bookie what he bet =10% and the bookie makes pays the winner and keeps the 10%. If the numbers are uneven say $50k on the Cowboys and $40k on the Giants the bookie would call a bigger bookie and bet $10k on the Cowboys to get his exposure back to even. A good bookies is only looking to make the juice. He doesn't want any or very little exposure.

Answer 4

maybe not related to the mofia...but maybe related to the Mother And Fathers Italian Association LOL

Answer 5

I think it's a bookie or bookmaker, and it is illegal in the United States except for sports that can be legally bet on, and Nevada is the only state that has legal bookmaking.

In terms of making a profit, they keep whatever the losers wouldn't receive. You make sure that the winners get their due and keep whatever was left when the losers made their bets.

And I don't think it has anything to do with the Mafia unless of course it might be run by them...it's best not to get involved.