Professional Sportsbetting

[redietz]

I wonder if you had this same view of beards back when you were hanging out with all these gangsters and billy waters? You realize it is logically the same thing but one is for live sports betting and one is for online?

To me it reads like an admission you're not smart enough to not be caught. It is smart to realize that and not go lose your $$$. Kudos.

But most importantly I wanted to point out something here. Redietz complains about it taking up too much mental time to pick specifically 5 games. If he understood EV he could apply it here to make a simple criteria and not fret over the 5. But EV is a concept he ridicules even though he admits to not being a "serious NFL bettor".

He also seems to be admitting contests are not for serious bettors and an amateur thing. (which incidentally is the field he is playing against that he so readily brags about)

So tell us why it would be acceptable morally and ethically for Billy Waters to use a beard but if APs bet under other accounts it is all at once some great immoral unethical thing? Please tell us. Not another <crickets> moment I hope.

All in all this post shows a decent amount of progress for Redietz. Keep it up.

First of all, the use of beards in Las Vegas was only recently made formally "not acceptable." So the bulk of Mr. Walters' wagering using beards was done long before there were any formal casino and Gaming Commission rules against it.

I'm certainly no expert but I don't believe this is accurate. From my understanding, it was illegal going back to at least the early 90's. Walters was using runners up until 2007 give or take 5 years?

Either way, I'm surprised you didn't mention this, but I believe there are various ways to legally incorporate as a business and or have people on a percentage, thus making sports bet running legal. He was probably set up as a sports business before he even considered the legalities of runners.

First of all, not the early 90's. Second, "legality" is a stretch of a term. When dealing with the Gaming Commission and casinos, there are regulations and then there are laws. There are (at least) three different levels of what the casinos try to sell as "legalities," but I defer to regnis and those better schooled in the continuum of policies, regulations, and legalities. A casino can have a policy that shuts you down. They can waive that policy whenever they like. They can have Commission-backed regulations that render what you do "illegal," but they can look the other way if they choose, with the usual "what the Commission doesn't know doesn't count, and since we own the Commission...." And then there are laws, which, given Las Vegas' split jurisdictions, create further complications if the jurisdictions don't feel like agreeing.

To put things in a "legal" context, there were people in the Black Book who had access to certain casinos in the 90's. Maybe they still do. I don't know because I'm not there. But I can vouch for the 90's. Not only that, a certain casino had nice convenient places for them to stay within walking distance.

Frankly, Axelwolf, I'm surprised you don't know this. Stunned is a better word.

The LLCs are recent (and have mostly failed miserably), so no -- the LLCs being legal do not overlap most of Mr. Walters' use of runners. Most runners were paid cash wages. Substantial cash wages. The LLCs are about a decade old.

To say Mr. Walters "used runners" is a bit of an oversimplification. With Mr. Walters, because of his net worth and influence, you never really know where Mr. Walters ends and the sports books begin. There isn't necessarily a clear delineation. Mr. Walters is a very smart man. Reminds me of J.R. Ewing.

Axelwolf, really, if you don't know this stuff off the top of your head, you are sadly underinformed.