NJ Loanshark Bust

[Rocco]

Why didn't the Toms River Victim grab two friends and a couple bats. Show up at Gioe's house and just fuck him up.. ? He aint a made guy. The guy is open season. Just another guy. I find it funny how these guys think they are threatening in any way. If they are as tough as they say they are there would be a trail of bodies. My cousin owed a bookie $8k like 15yrs ago. The bookie kept sending some juiced up wannabe thug to my cousins autobody shop. On the third visit the juiced up thug was attacked by 3 people and left with a broken eye socket and nose. He never came back...and never heard from the bookie again. Steroids don't make you tough...it just makes someone off set the size difference to hurt you. And that is exactly what happened. And if you are gonna be a loan shark...don't attach your self to a Legit biz..you are easy to find and there is a paper trail for LE.

[Buster123]

So your cousin bet & lost 8k & didn’t pay? Must be a real mutt. And you brag about it smh

[NJShore4Life]

Grown men who beat bookies when they lose big are typically the same scumbags who get locked up for failure to pay child support. That’s one of my pet peeves , a real man always honors his debts.

[Wiseguy]

Why didn't the Toms River Victim grab two friends and a couple bats. Show up at Gioe's house and just fuck him up.. ? He aint a made guy. The guy is open season. Just another guy. I find it funny how these guys think they are threatening in any way. If they are as tough as they say they are there would be a trail of bodies. My cousin owed a bookie $8k like 15yrs ago. The bookie kept sending some juiced up wannabe thug to my cousins autobody shop. On the third visit the juiced up thug was attacked by 3 people and left with a broken eye socket and nose. He never came back...and never heard from the bookie again. Steroids don't make you tough...it just makes someone off set the size difference to hurt you. And that is exactly what happened. And if you are gonna be a loan shark...don't attach your self to a Legit biz..you are easy to find and there is a paper trail for LE.

Huh? Not sure who the bookie you're talking about was connected to, if anyone, but Gioe is reportedly a Gambino associate. How many bettors, or whoever owes some kind of debt, are going to try and out-muscle the mob? It's why they often run to the law to get out of under the debt. Not go to war. At best your anecdote is a rare exception to the rule. C'mon, Rocco.

[Rocco]

Why didn't the Toms River Victim grab two friends and a couple bats. Show up at Gioe's house and just fuck him up.. ? He aint a made guy. The guy is open season. Just another guy. I find it funny how these guys think they are threatening in any way. If they are as tough as they say they are there would be a trail of bodies. My cousin owed a bookie $8k like 15yrs ago. The bookie kept sending some juiced up wannabe thug to my cousins autobody shop. On the third visit the juiced up thug was attacked by 3 people and left with a broken eye socket and nose. He never came back...and never heard from the bookie again. Steroids don't make you tough...it just makes someone off set the size difference to hurt you. And that is exactly what happened. And if you are gonna be a loan shark...don't attach your self to a Legit biz..you are easy to find and there is a paper trail for LE.

Huh? Not sure who the bookie you're talking about was connected to, if anyone, but Gioe is reportedly a Gambino associate. How many bettors, or whoever owes some kind of debt, are going to try and out-muscle the mob? It's why they often run to the law to get out of under the debt. Not go to war. At best your anecdote is a rare exception to the rule. C'mon, Rocco.

bullshit these guys get stiffed allot. no one is willing to do life over $8k most wont even do the 7yrs for loansharking. If Gioe is willing to life or 7yrs for $8k. good for him. maybe if my cousin owed 175k he would have come back heavy. but for 8k you aint going to war

[Wiseguy]

bullshit these guys get stiffed allot. no one is willing to do life over $8k most wont even do the 7yrs for loansharking. If Gioe is willing to life or 7yrs for $8k. good for him. maybe if my cousin owed 175k he would have come back heavy. but for 8k you aint going to war

I think you're overstating things. Yes, the MO has increasingly been to simply cut a deadbeat off rather than risk arrest by putting them in the hospital. Especially if the money isn't worth the risk. But a bookie or loanshark can only let that go so far. You let too many guys skip out on paying, the money lost over time becomes significant and they look like a mark to everyone else. Doesn't seem to be a winning business model.

And you were even going beyond that by suggesting the debtor not only not pay, but actually go and rough up the loanshark. In what world does this happen? What serious mob-backed bookie or loanshark is going to stand for that? We still read about cases of guys looking to get out of debt to the mob by fleeing to the government. I don't recall too many stories of a mob bookie or loanshark waking up in the hospital because one of their debtors worked them over.

[Uncle Pete]

John Alite said something that I think rings true here. If you loose a bet for 8K off the bat and don’t pay, maybe you just get cut off as it’s just a number on paper and the mob didn’t really loose it. On the other hand, if you win 10K the week before and get paid, then stiff them on 8K the next week, they may to look to hurt you and hurt you fast.

[Wiseguy]

George Freselone said the mob bookie will at times send the leg-brrakers out, especially if he thinks a player is trying to cheat him; but if the guy doesn't have the money, no amount of beating on him is going to get it. And if you lean too hard, you risk him running to the cops.

He also said something similar to what Alite said about it partly being a psychological thing, keeping your players happily losing money to you. Obviously if a a bettor has a business to take over, or something else of value, that's one thing. But not everyone does.

Also, is it really just money on paper and the mob didn't really lose it? The bookie pays the winners with money from the losers. If the loser doesn't pay, isn't that coming out of the bookie's pocket?

[givememysocks]

Also, is it really just money on paper and the mob didn't really lose it? The bookie pays the winners with money from the losers. If the loser doesn't pay, isn't that coming out of the bookie's pocket?

Yup, thats how it works. The goal is to have similar amounts of money bet on each side so it evens out and then take your 10-15% fee from the money wagered. If one loser doesnt pay up then you would have to cut into your profits to pay the winner. I wonder what percentage of bettors end up not paying?

[Uncle Pete]

I agree with what you’re saying as it’s all money that could have been in their pockets and the taking a percentage off of an even book. But if you’re running an even book, you’re not going to allow a single player to wager more than what you expected to bankroll for the week right?

A player not paying obviously sucks but a bookie should not be going into his pockets over a single player. Paraphrasing Gene Borello here and he said that a player not paying you should result in you making 8K instead of 10K for example. This is very different from one guy beating you out all your points for the week and you going into your pockets. In this scenario, why assault the guy? This is a situation in which the better would simply be cut off until he pays up.

If they do allow someone to bet big with them, it’s definitely going to be someone they have already established a relationship with and know he’ll pay, or they know they can take something from him if he can’t. Now, if they think the player has built up some credit to bet big with the intention of collecting his winnings and then beating them on his next big loss, that guy is still going to get assaulted.

[Eddie mush]

bullshit these guys get stiffed allot. no one is willing to do life over $8k most wont even do the 7yrs for loansharking. If Gioe is willing to life or 7yrs for $8k. good for him. maybe if my cousin owed 175k he would have come back heavy. but for 8k you aint going to war

I think you're overstating things. Yes, the MO has increasingly been to simply cut a deadbeat off rather than risk arrest by putting them in the hospital. Especially if the money isn't worth the risk. But a bookie or loanshark can only let that go so far. You let too many guys skip out on paying, the money lost over time becomes significant and they look like a mark to everyone else. Doesn't seem to be a winning business model.

And you were even going beyond that by suggesting the debtor not only not pay, but actually go and rough up the loanshark. In what world does this happen? What serious mob-backed bookie or loanshark is going to stand for that? We still read about cases of guys looking to get out of debt to the mob by fleeing to the government. I don't recall too many stories of a mob bookie or loanshark waking up in the hospital because one of their debtors worked them over.

Rocco is spot on . No1 is gonna do a dime to collect 10k
Bookies n sharks get beat all the time is part of the business now a days

[Pogo The Clown]

Did your friend who just got out of prison tell you this?


Pogo

[Eddie mush]

Nah yur Mothet told me right after she took my cock out of her mouth

[Wiseguy]

Rocco is spot on . No1 is gonna do a dime to collect 10k
Bookies n sharks get beat all the time is part of the business now a days

Well, if you say so.

[Cheech]

Also, is it really just money on paper and the mob didn't really lose it? The bookie pays the winners with money from the losers. If the loser doesn't pay, isn't that coming out of the bookie's pocket?

Yup, thats how it works. The goal is to have similar amounts of money bet on each side so it evens out and then take your 10-15% fee from the money wagered. If one loser doesnt pay up then you would have to cut into your profits to pay the winner. I wonder what percentage of bettors end up not paying?

Nah ehh sorta. That whole 50-50 thing isn’t real. If you’re a major casino. Sure. The average guy in the neighborhood? Nah. these guys are losers. And giants fans bet giants on giant games. On monday night everyone is on the fave and the over. Its not like ppl think. Very rare u get even money. A big game against two really
Good teams. Ya. But yankees vs a really bad team regardless of the line youre getting yankee action. If its too much u lay off. But even that. Again these guys are losers. Why call in losers to someone else? They dont want to win. They want action on the game. Sometimes sunday night makes or breaks a week. Thats how much one sided action u get. Ask a friend in the biz. I bet they say same thing.

And guys im not talking tony napoli’s layoff room. Im talking a guy who had 15-20 guys who bet $100-$1000. Why would they want even money? Risk an arrest for a vig on $1000? Nah. Thats not real life.