Fifteen Philadelphia Family Members and Associates Indicted

[Dave65827]

2,000 a day and what the investigation started in 2015? 365 times 4 times 2000 is about 3,650,000 not bad. Especially when talking about Philly lol

Thats not what it says.

@Wiseguy is this how you feel when they ask about a Kansas City family?

I’m making a guess I’m not stating anything. Just saying it’s a lot of money is what I’m trying to say.

[Wiseguy]

2,000 a day and what the investigation started in 2015? 365 times 4 times 2000 is about 3,650,000 not bad. Especially when talking about Philly lol

Thats not what it says.

@Wiseguy is this how you feel when they ask about a Kansas City family?

Something like that.

Though it seems many are simply unaware that one of the possible criteria to bring illegal gambling charges is an operation that has "been in operation for over 30 consecutive days or had gross revenue of $2,000 or more in a single day."

Hence the reason we see that $2,000 figure so often in gambling cases.

[Cheech]

2,000 a day and what the investigation started in 2015? 365 times 4 times 2000 is about 3,650,000 not bad. Especially when talking about Philly lol

Thats not what it says.

@Wiseguy is this how you feel when they ask about a Kansas City family?

I’m making a guess I’m not stating anything. Just saying it’s a lot of money is what I’m trying to say.

Your guess isn’t even close. Its not even in the same stratosphere.

[Dave65827]

Whatever dude just tried to say it’s a lot of month is where I’m getting at


I wrote that post like 4 weeks ago probably didn’t think it through

[Ivan]

For those who unlike me are actually capable of doing math and really know something about gambling operations, what would be a more realistic take for the net profits over time for this one gambling operation? Just a ballpark range, I know it's impossible to know for sure.

[Wiseguy]

For those who unlike me are actually capable of doing math and really know something about gambling operations, what would be a more realistic take for the net profits over time for this one gambling operation? Just a ballpark range, I know it's impossible to know for sure.

Unless I'm completely spacing it, there's not enough info for this particular case to answer that. We never got a total figure estimate and, as explained above, we can't go off the generic legal benchmark of $2,000 a day.

Cheech has posted this breakdown before when he was referring to the Lucchese Jersey crew gambling bust -

Someone should post this in the general forums. This is such an important document cause it tells you exactly what it's like. Exactly. A couple things I took away. They made a lot of money but not as much as you'd think.
Joe M Pernas perspective. The guy they say is running it.
Whatever the take is multiply it by 4-7% depending on sport. That's what you're likely to win. Divide it all in half now cause the agents are on a half sheet per this report. $5-$10 for every player each week for the PPH. 5-10% for the runners. Uncle Matty and Uncle joey D get there taste. 20% goes uncollected and that's conservative. Then cut it all in half cause he's splitting it with Mike Cetta. Great money but not what media and LE make it out to be. 100k worth of bets in one day you hope to win 5 (before expenses) Hell you may lose. If you don't have long paper,you won't make it for all the reasons above. These kids now never answered a phone. Never wrote it down. They think you wake,up and check the bottom. Don't work like that. These guys were calling every hour checking it out. One guy was betting sharp plays before the line moved and Joe P was all over it. Cut his limits and wanted to know where the plays were coming from so he can bet them.

The wagers handled during the investigation were reported to be $2.2 billion. But you could take the $60 million from Philly's Borgata case, or any gambling case where there's sufficient information, and get the same general idea.

[Amershire_Ed]

You see this exact same kind of arithmetic from the Feds with drug cases. Some guy selling 5 kilos of coke per week netting $3k per sale will get indicted and publicly labeled as someone selling hundreds of thousands of dollars worth of coke per week. Because the Feds will bust the value all the way down to the street level and apply it to the main supplier. The press will do the same.

[PHL_Mob]

10-15% of gross wagers usually gets you to around what the bookmaker profits net-net

[chubby]

You see this exact same kind of arithmetic from the Feds with drug cases. Some guy selling 5 kilos of coke per week netting $3k per sale will get indicted and publicly labeled as someone selling hundreds of thousands of dollars worth of coke per week. Because the Feds will bust the value all the way down to the street level and apply it to the main supplier. The press will do the same.

Yes the feds grossly the amount of cash when it comes to any operation, whether drugs, gambling ect.. but bookmaking is a crazy amount of over head and collections and a million other things that are never taken into account to actually get the ballpark number of what is actually going into these guys pocket with a bookmaking operation... it severely complicated to breakdown..

[PHL_Mob]

Sounds like whatever Dom was picking up was profit though since it was shakedown money. On the flip side it could be him picking up losses but he has to pay half of that or more/less to his winners...

[Cheech]

10-15% of gross wagers usually gets you to around what the bookmaker profits net-net

you're not far off. depends on sport and location oddly enough.

you're a good poster, especially on Philly. I enjoy your contributions

[Cheech]

For those who unlike me are actually capable of doing math and really know something about gambling operations, what would be a more realistic take for the net profits over time for this one gambling operation? Just a ballpark range, I know it's impossible to know for sure.

wiseuguy is correct below and I appreciate he shared my post.

https://sportshandle.com/sports-betting-revenue/

this gives you a good idea re: hold percentage, total take etc.

its going to vary per sport. / region

unfortunately the report didnt give us enough insight into there operation. the $2,000 a day is a formality and it only needs to happen once for the charge. it doesn't mean it happened every day. no bookie wins every week let alone every day. the $2,000 X 365 days isn't relevant.

[chubby]

For those who unlike me are actually capable of doing math and really know something about gambling operations, what would be a more realistic take for the net profits over time for this one gambling operation? Just a ballpark range, I know it's impossible to know for sure.

wiseuguy is correct below and I appreciate he shared my post.

https://sportshandle.com/sports-betting-revenue/

this gives you a good idea re: hold percentage, total take etc.

its going to vary per sport. / region

unfortunately the report didnt give us enough insight into there operation. the $2,000 a day is a formality and it only needs to happen once for the charge. it doesn't mean it happened every day. no bookie wins every week let alone every day. the $2,000 X 365 days isn't relevant.

Did boomakers have a horrible year due to The pandemic?? Or did they still get to squeeze out some money and the year wasn’t a complete bust?? I’m sure some Shylock books did pretty well

[Cheech]

People I know of personally did fantastic. Best year ever even without march madness.
Hard to say how all did. Depends on your clientele. I have to imagine they did well.

[NJShore4Life]

I’ve heard from the guys I know here in Jersey that they haven’t been affected at all and it’s business as usual revenue wise even with Sports Betting 100% legal here in Jersey coming up on four years this June and with the pandemic basically shutting down Sports For several months.

-Dante