Bookies/mobsters killing big gambling winners to avoid paying them?

[Ivan]

I think I have read about a couple made guys who killed the guys they were indebted to, but can't recall their names with any certainty. One may have been Milwaukee Phil Alderisio, but I'm not sure.

The only one I can think of that was major was didn't the westies knock off ruby stein who they owed big money to although he was a loanshark

Yeah, they also took over his business IIRC.

I wonder how often this happens to loan sharks? As Roy DeMeo put it, it sounds like it would be a good way to get a nest egg.

[rayray]

Didn't Ruggiero badmouth or help encourage the DiB killing? Something about owing the guy over 250k?

I imagine stuff like this happened here and there...especially to guys who loaned money who weren't particularly feared by others.

[Teddy Persico]

As long as the bookie balances his books, through the layoff or whatever.

question for you.

you're a bookie. last night you have $10k on the rams -3 and $1k on the 49ers +3. what do you do?

Before the game you call other bookies who have more bets on the 49ers and you basically swap bet $ to get as even as possible. Everyone is trying to even their bets on both sides so the actual game result won't matter. If you can't get all the way even, your profit amount will depend on the outcome, but you should make enough in vig to profit either way. And if you're in the Mafia, you're taking a 10% cut from those other bookies anyways.

[Cheech]

As long as the bookie balances his books, through the layoff or whatever.

question for you.

you're a bookie. last night you have $10k on the rams -3 and $1k on the 49ers +3. what do you do?

Before the game you call other bookies who have more bets on the 49ers and you basically swap bet $ to get as even as possible. Everyone is trying to even their bets on both sides so the actual game result won't matter. If you can't get all the way even, your profit amount will depend on the outcome, but you should make enough in vig to profit either way. And if you're in the Mafia, you're taking a 10% cut from those other bookies anyways.

Wiseguy had a better answer than you and hes from utah. Bookies dont swap bets. When you "bet" with another bookie you have to pay the vig too. And the really good books dont take 10% they partner and put you on a 50 sheet. Or a quarter sheet. Everything you wrote above couldnt be farther from truth. No bookie wants it even as possible. You are goin to win 4-7% of the total handle anyways.
Laying off is for either - the really big books. Especially stand alone games. That you might edge off but not to even out the money just to lower your risk. Or the really small books that shouldnt be taking bets anyways. That even money on both sides is garbage. And dont send me some wiki article.

[Snakes]

Yeah, if the bookies are really good at setting the lines or odds, they don't necessarily want even money.

[Etna]

I am pretty sure Joey O Masella in NJ was killed - he owed everyone money...but he may be a different ball of wax.