60 Minutes on a sports gambler

[yyz]

I hope your ears get better.

 

[hedgehog]

I was feeling like shit last night with that post..........Way worse this morning. Went to the Dr., have double ear infection and sinus infection and a 101 fever, but since you asked so nicely YYZ.............

The guy that said that he takes his action so he knows what is going on, did not say how much action he took.

Walters has a very intricate web of hustlers under him. He has people locate friends of local books and asks them to have an account set up. Once you get the account set up with the username and password, you are no longer allowed to use the account. Walters places all of the bets for you under these false pretenses. He covers the losses 100%, but you get 25% of the winnings. You had better make sure that you're gonna get paid though because there is no telling Billy that the guy stiffed you. Whether you get paid or not, you are responsible for the entire amount of the winnings..........minus your 25% of course.

One of my locals got stung by one of his guys 3 weeks ago. The guy was supposedly in Tampa, but the IP address was out of Vegas. My book called the guy on it and he gave some story that he was out in Vegas for the early part of the week and would be back in town on Wednesday. Wednesday came around and he placed 12 bets. 10 winners. IP still from Vegas. He shut the guys account down and the guy went ballistic cuz he was goiing to be responsible to Billy. After three days of non stop phone calls, he hasn't heard anything from him again.

So when he was on the phone with those guys saying to put 350k on a game, his guy wasn't walking up to the sports book and tossing down the 350k.

Nice little scam which will catch up to you eventually.

Now I'm going back to bed.

:0003 thanks for sharing

 

[Four Corners]

Jack,
Off subject question. 60 minutes is on tonite and would like to get the link to the section on the housing bubble/collapse? How did you get that link. Trying to increase my technology skills.
THanks
Four Corners (Tuesday)

 

[MadJack]

Jack,
Off subject question. 60 minutes is on tonite and would like to get the link to the section on the housing bubble/collapse? How did you get that link. Trying to increase my technology skills.
THanks
Four Corners (Tuesday)

http://www.cbs.com/video/

I clicked 60 minutes in the left column and looked for the video. I doubt the one you want is in there if it hasn't aired yet.

 

[layinwood]

I was feeling like shit last night with that post..........Way worse this morning. Went to the Dr., have double ear infection and sinus infection and a 101 fever, but since you asked so nicely YYZ.............

The guy that said that he takes his action so he knows what is going on, did not say how much action he took.

Walters has a very intricate web of hustlers under him. He has people locate friends of local books and asks them to have an account set up. Once you get the account set up with the username and password, you are no longer allowed to use the account. Walters places all of the bets for you under these false pretenses. He covers the losses 100%, but you get 25% of the winnings. You had better make sure that you're gonna get paid though because there is no telling Billy that the guy stiffed you. Whether you get paid or not, you are responsible for the entire amount of the winnings..........minus your 25% of course.

One of my locals got stung by one of his guys 3 weeks ago. The guy was supposedly in Tampa, but the IP address was out of Vegas. My book called the guy on it and he gave some story that he was out in Vegas for the early part of the week and would be back in town on Wednesday. Wednesday came around and he placed 12 bets. 10 winners. IP still from Vegas. He shut the guys account down and the guy went ballistic cuz he was goiing to be responsible to Billy. After three days of non stop phone calls, he hasn't heard anything from him again.

So when he was on the phone with those guys saying to put 350k on a game, his guy wasn't walking up to the sports book and tossing down the 350k.

Nice little scam which will catch up to you eventually.

Now I'm going back to bed.

Not saying this isn't the truth but his winning percentage would have to be pretty damn high to cover paying people 25% of his winnings.

 

[Trampled Underfoot]

Not saying this isn't the truth but his winning percentage would have to be pretty damn high to cover paying people 25% of his winnings.

I think he means over a period of time. So at the end of a month they settle up and if there is winnings he keeps 25%, otherwise Walters pays up. Its not on each bet.

 

[layinwood]

I think he means over a period of time. So at the end of a month they settle up and if there is winnings he keeps 25%, otherwise Walters pays up. Its not on each bet.

Oh I know it's not on each bet. Doesn't really matter. 25% is 25%. I don't feel like doing the math but it would make the % needed to win be pretty high.

 

[kickserv]

Man oh man that was tough to watch, how the wife spoke was beyond me. Huge props to her for doing what she did.

Feel terrible for her two year old son.

 

[jhawksoon]

My math could be off but I believe you have to win 69% of your games to come out on top after factoring in a 10% vig and taking only 75% of the winnings. Any mathematicians out there?

 

[Trampled Underfoot]

Oh I know it's not on each bet. Doesn't really matter. 25% is 25%. I don't feel like doing the math but it would make the % needed to win be pretty high.

Really its not a bad deal if he hits even a decent percentage. There is no way to calculate it because we don't know the level of action. Just like he said though, he's never had a losing year. So i'm sure there aren't too many losing months in there. I followed him one year and he did pretty damn good.

 

[Trampled Underfoot]

My math could be off but I believe you have to win 69% of your games to come out on top after factoring in a 10% vig and taking only 75% of the winnings. Any mathematicians out there?

You have no idea how many games he is playing per month if we used that, so there is no way to calculate what he would need to hit. That is assuming he bets the same per play, which he doesn't.

 

[MadJack]

I can't imagine how he continues to get that kind of action down when books will boot your ass after only a few steam plays.

 

[Trampled Underfoot]

Just an example, but if he hit 55% of 200 plays this would be the result:

110 wins X 1 unit
90 losses X -1.1 unit

Net = 11 units

Billy's take = 11 units * .75 = 8.25 units

 

[Trampled Underfoot]

I can't imagine how he continues to get that kind of action down when books will boot your ass after only a few steam plays.

I don't think he is nearly as relevant as he used to be 10 years ago, but I haven't paid attention to his stuff in a long time.

 

[yyz]

Not saying this isn't the truth but his winning percentage would have to be pretty damn high to cover paying people 25% of his winnings.

There is no way he is paying anyone 25% of his wins. NONE!

 

[Trampled Underfoot]

There is no way he is paying anyone 25% of his wins. NONE!

So how else is he getting down? I disagree with you.

 

[yyz]

I think he means over a period of time. So at the end of a month they settle up and if there is winnings he keeps 25%, otherwise Walters pays up. Its not on each bet.

Oh I know it's not on each bet. Doesn't really matter. 25% is 25%. I don't feel like doing the math but it would make the % needed to win be pretty high.

25% is not 25% in a case like this.

I'll give you the easiest example:


He goes 10-0 week one, and makes $100,000

You get $25,000. (Well done, by the way!)

Week two, he goes 0-10, and is out $110,000

You are still up $25,000, and he is down $35,000????


Great business model there!

 

[Trampled Underfoot]

25% is not 25% in a case like this.

I'll give you the easiest example:


He goes 10-0 week one, and makes $100,000

You get $25,000. (Well done, by the way!)

Week two, he goes 0-10, and is out $110,000

You are still up $25,000, and he is down $35,000????


Great business model there!

I'm sure he doesn't settle up by the day or week. You are also assuming that he is a 50% handicapper long term.

 

[MadJack]

He probably pays the 25% but it carries over in losing weeks and he won't payout the 25% until he gets back into positive territory.

He has to win ~ 53% of his games to payout 25%. It's that simple. :shrug:

That's IF the bets are all the same but they're not.

I bet he pays out the 25%. It's not losing anything for him because if he doesn't win he doesn't pay.

 

[layinwood]

You have no idea how many games he is playing per month if we used that, so there is no way to calculate what he would need to hit. That is assuming he bets the same per play, which he doesn't.

Number of games per month doesn't matter. The %'s allways are the same so number of games don't matter at all. 10% vig and 25% out of profit, those don't change.