Gambling on sports has never been more accessible or high-stakes. However, with the invasion of businesses in the game, the experts are feeling getting banned from plying their trade and pumped. Is this the end of the sports bettor?
I am not a bookmaker,” Gadoon Kyrollos informs me as we stroll throughout the Hard Rock Casino in Atlantic City, playing with penny slot machines. “I am a sports bettor.” Kyrollos is one of the sports bettors in the United States. He bets millions of dollars each year on sporting occasions, from NFL matches. He is known throughout the gambling world by the title Spanky, also in sweatpants his hoodie, and backpack, he very much looks like a 40-year-old version of the Rascal. His back pack is not carrying school books and snacks. It is filled with bricks of money.
“Bookmakers hang a few,” he explains, as he pantomimes holding a gun sight as much as his eye and pulling the trigger. “And I snipe’em”
Regardless of the bag full of cash, Spanky is transfixed from the cent slot machine, pumping one bill after the following into it. On his phone he consults a recorder which tells him how to perform with this particular machine so that it is”plus EV,” or positive expected value, meaning that the player has an edge within the machine with time. “This is some real insider shit I’m showing you here,” he tells me, referring to his spreadsheet, which has formulas for dozens of slot machines plugged in to it. “I mean, it’s likely an edge of, for example, $12, but if you were walking down the road and saw $12, you’d bend down and pick it up, right?”
It’s important to Spanky I understand the gap between bookmaking and gambling, because a great deal of people don’t know or appreciate the distinction, such as the Queens district attorney, who charged Spanky with bookmaking in 2012, a charge he says originated from a widespread misunderstanding of this business.