There are now 10 physical and 14 online sportsbooks in New Jersey that have collectively already handled more than $1.5 billion in wagers. New Jersey, where Spanky has lived his entire life, was one of the first states to do so, and in less than a year it has experienced a gold rush. Last year, the Supreme Court repealed the Professional and Amateur Sports Protection Act of 1992, paving the way for individual states to lift restrictions and regulate bookmaking. That misunderstanding stands to spread like wildfire. It’s important to Spanky that I understand the difference between bookmaking and betting, because a lot of people don’t understand or appreciate the distinction, including the Queens district attorney, who charged Spanky with bookmaking in 2012, a charge he says stemmed from a widespread misunderstanding of this business. “I mean, it’s probably an edge of, like, $12, but if you were walking down the street and saw $12, you’d bend down and pick it up, right?” “This is some real insider shit I’m showing you right here,” he tells me, referring to his spreadsheet, which has formulas for dozens of different slot machines plugged into it. On his cellphone he consults a spreadsheet that tells him how to play this particular machine so that it is “plus EV,” or positive expected value, meaning the player has an edge over the machine over time. “And I snipe ’em.”ĭespite the bag full of money, Spanky is transfixed by the penny slot machine, pumping one bill after the next into it. “Bookmakers hang a number,” he explains, as he pantomimes holding a gun sight up to his eye and pulling the trigger. It’s filled with bricks of cash, nearly $150,000 worth. His backpack, however, isn’t carrying school books and snacks. ![]() He’s known throughout the gambling world by the name Spanky, and in his hoodie, sweatpants, and backpack, he very much resembles a 40-year-old version of the Little Rascal. He bets millions of dollars each year on sporting events, from NFL games to the Nathan’s Hot Dog Eating Contest. ![]() “I’m a sports bettor.” Kyrollos is actually one of the highest-rolling sports bettors in the United States. Oneida Casino in Green Bay became the first in the state to offer legal retail sports gambling a year and a half ago.Īs more tribal nations in Wisconsin follow their lead, 24 other states have taken it one step further by going online, according to the American Gaming Association.“I am not a bookmaker,” Gadoon Kyrollos tells me as we walk through the Hard Rock Casino in Atlantic City, playing penny slot machines. “We know that 90 percent of the people that come in to place a sports bet will be new to our database,” he said. Ortiz says the casino is taking an aggressive approach to engage a different demographic. “You have to think about the long-term implications and positioning yourself for the state of Wisconsin.” “What are you expecting for revenue, not only for the Forest County Potawatomi Community, but for the state as well?” TMJ4 reporter Ben Jordan asked. Tony Evers and getting all of its technology in place. The lengthy timeline included clearing federal regulation hurdles, renegotiating its gambling contract with Gov. Ortiz says Friday’s unveiling comes after three years of legwork. Nobody’s ever seen sports book,” said Potawatomi Hotel Casino’s CEO Dominic Ortiz. ![]() “We’ve been doing gaming here for 30 years and it’s slots and tables and food. Sports games and betting lines light up screens inside the casino and eager sports fans wasted no time placing their first legal event wagers in southeastern Wisconsin. MILWAUKEE - Sports fans rejoice as Milwaukee’s first-ever sportsbook is now open at Potawatomi Hotel Casino ahead of a big weekend for college basketball.
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