On the eve of the Super Bowl, an illegal bookie tells all

Editor’s Note: For his story on Super Bowl betting, Paul Solman interviewed an illegal bookie named Tim. We don’t know his last name, and he asked us not to show his face on the NewsHour. But what he had to say about how betting works was so interesting that we thought you’d want to read more. What follows is Paul’s interview with Tim, edited and condensed for clarity.

First, though, watch Paul’s segment on Super Bowl betting, featuring Tim and professional Vegas gambler Teddy “Covers.”

So who are you rooting for on Sunday? And who would you bet on? Keep reading for Tim’s pick.

— Simone Pathe, Making Sen$e Editor

Tim: So how much are you trying to bet?

PS: Mmm, a thousand dollars on the Super Bowl.

Tim: And just for the one game? If it’s just on the one game, I probably would say, “I don’t wanna deal with this person.” But if you ask me for an account, and you wanted to be an active user, and I was looking for players, I’d set you up with an account. A thousand bucks isn’t that much, so I don’t know if I would personally meet them. That would depend on how much money it is.

If I met the person, I’d kind of feel them out. You can tell who’s trying to make a quick buck, and who’s trying to actually build a relationship and bet through you consistently.

PS: So you take my action, but it’s on credit. Suppose I can’t pay up? Is that a problem for you or a problem for me?

Tim: Both of us. But I guess it’s more of a problem for you because you owe the money. If you owe me the money, and you can’t pay, I’m gonna ask you to set up a payment plan. Back in my heyday, I’d get angry.

PS: Well, but “your heyday” – you’re only 29, right? So “your heyday” was when you were how old?

Tim: Early twenties. I mean, that’s when I was really into it. That was my main source of income. I thought I was running some really legit, big business.

PS: Well, not entirely legit.

Tim: Not legit, but I think I’m running a business, you know.

PS: So what did you do? What’s the worst you did?

Tim: Go to the person’s house, wait for them to go to their car, and and throw ’em a couple good ones.

PS: You mean, hit ’em. They’d pay after that?

Tim: Yes, he did pay me. This was someone I knew when I was younger. I had just paid them a lot of money recently, so it really rubbed me the wrong way. It was not really about the money and more about my own ego and pride and principle.

PS: Did you ever take that person’s action again?

Tim: No. You don’t want a headache. You’re in this for the money. You’re not in it to expand your business or be the guy around town. It’s strictly a financial thing.

PS: You don’t want to be the enforcer.

Tim: Ehhh, I mean, I’m not getting paid to do that. That’s extra work! It’s supposed to be like very easy side income, you know? …And as I got older, I was like, “I’m not gonna go beat ’em up myself, so why don’t I pay someone else to do it?,” and have them say that it was me?

Why Deal With an Illegal Bookie?

PS: Why do people bet with people like you rather than go to Vegas?

Tim: There are several reasons why. A, they have no access to to place the bet. So it’s convenience. B, I would offer lower juiced lines.

PS: In other words, you bet $107 to get a $100 as opposed to betting $110 to get $100?

Tim: Yes. And some are people who would keep losing to me, so I would cut them discounts, ’cause I feel bad. Also, a lot of people don’t have the money that they’re betting. So, in Vegas, you gotta go put up the cash to make the bet. Other people, they kinda like to make the bet and hope they win, and if they lose, go and scramble and put the money together.

PS: And of course, if you bet illegally, you don’t have to pay taxes.

Tim: No taxes, no.

Why You Shouldn’t Deal With a Bookie…

PS: How is it that, as a bookie, you consistently win? That is, beyond the commission you get on the bets?

Tim: The house always wins unless a home team goes on some run. When I say that, I mean, if I’m goin’ outta New York, if the Knicks won 50 games in a row, and they win the NBA Championship, the bookie would probably lose money. Because all the New Yorkers are betting on their team. Okay?

PS: Even though it’s irrational to do so.

Tim: In general, the bookie wins, and Vegas wins because you’re already losing $10 dollars on every $100 bucks you bet.

PS: The bookie’s commission. Aka the juice, or the vig, as it used to be called.

Tim: Also, most people have no self control, and they’re just gonna keep betting and betting and betting on more nonsense, so that commission adds up over time.

Another reason is that the guys making the lines know more about the games than the casual fan. You may think, “Hey, I watch SportsCenter, I know what’s going on, I know who’s gonna win this week.”

But these guys making the lines – they’re smarter than you, it’s their job, and they’re gonna make it perfect. And there are sometimes lines out there that are called traps. They’re trying to trap you to make the wrong bet.

PS: And so you aren’t just taking the commission. You’re on one side of most bets?

Tim: Yep. Definitely. You’re rooting for the Bills, the Browns, the Jaguars – those, those are your teams.

PS: The underdogs.

Tim: The bad underdogs. Those are the guys that make you the money. You know? You might think of it like guys who are working on the stock market: they know when to lose the stocks. When the stocks go a certain way, they jump on these things. It’s kinda the same principle.

The Patriots versus the Seahawks?

PS: Well, Sunday is going to be the Superbowl.

Tim: People are gonna bet on the Patriots. People bet on them a lot. For some reason, people don’t like Seattle.

PS: So, then, the house will win, you will win, if Seattle wins?

Tim: I don’t know yet. You don’t know until five minutes before the game starts who exactly you’re rooting for because you might have one guy on your sheet who bets more than everyone else combined. It’s what he bets on.

PS: Ah, because you’ve got to bet on the other side from him?

Tim: Yeah. I kinda like Seattle myself. And I’d probably bet them heavy. So this way, I’m getting the free juice; actually, you’re paying the juice.

PS: So you think Seattle will win on Sunday? Why?

Tim: I feel like since New England got caught cheating — and something always goes wrong in their big games now. They lost to the Giants twice… Something’s off, you know? They just had this little scandal going on —

PS: Not so little.

Tim: Yeah. You’re supposed to be focusing on the preparations for the game, and they’re focusing on how many ounces were in their football. I just. No one gives Seattle any credit. They’re a good football team.

PS: Well, they won the championship last year.

Tim: Yeah, so I don’t know. …I think they’re gonna win again.