Feature Story
Hall Of Fame Handicappers
Written by Frank Rosenthal on July 02, 1999
To list all of the great winning professional gamblers would be near impossible. There have been so many great talents over the years. The "Ace," "Dillinger," " Zoro," " Kentucky" are just a few, however they were truly men with magnificent minds. If there ever was a professional gambler's hall of fame they would be among the very first to be inducted.
The Ace was a pure basketball genius. He didn?t gamble in the general sense of the word. The Ace was a lock year after year, arguably the greatest handicapper that ever lived. I waited hours at a time during my apprenticeship just for an opportunity to chat with him. His knowledge of the game was mind boggling. He was confident, modest and very private. We became good friends and to this day I marvel at his work ethics. He seldom revealed his last name, and his home address was the public library. The Ace was dapper, a loner, very tight lipped and had a keen eye for skirts. I eventually moved on to Las Vegas and sure enough, in pops the Ace. At that time I was working at the Stardust Casino rolling along at a pretty good clip. The Ace asked me an unusual question. "What?s the right side kid, UCLA or USC?" It was college football and the line had some upward movement. I hadn?t played on the game but I intended to. I walked the Ace over to our sports book and we both looked at the line. My confidence level was high. Here I am with my hometown mentor asking the pupil for advice. I really felt good about that and obviously never forgot it. There were two fellows in the customer area of the book that worked for me as "beards." I wanted to introduce them to the Ace. We had spoken about him quite often. They picked up my signal and strolled over. "Shake hands with the Ace fellows." They looked at each other briefly hesitating. "Okay fellows, when we need some help with the baskets the Ace might not remember us." I decided to make a play. I told them to pick up the outs, slang for bookmakers and take UCLA plus the 4. Our sports book was told to drop the game down to 3. The Ace said, ?Thanks kid,? and went to the pay-phone. UCLA won straight up. Winners smile, losers say, deal the cards.
Dillinger was a master mathematician who played all sports, a four season pro. His specialty was propositions and his mind worked like a modern day high speed computer. If you were foolish enough to tangle with him, you?d generally pay the piper. Many wiseguys from around the country tried and usually left COD.
Zoro was a brilliant odds-maker with an intellectual mind. He sophisticated the money management theory. He was a cofounder of Caesar?s Palace and their very first quarterback. Kentucky had the heart of a lion and the flair of a riverboat gambler. When he decided to play high Kentucky would really send it in! His specialty was college football, and he was one hell of a southern gentleman. They were all nationally respected, and professionally feared.
Beating the sports books. Not a very simple task to say the least. It?s important to note the basic distinction that separates sports book gambling from most casino games. The casino games are an exact science, sports are not. You can?t mathematically prove that the point spread is either right or wrong. At the dice table you can. There are 36 possible combinations on a pair of dice. If you were to place your money on the 12, the casino will lay you 30 to 1. The probability of the 12 showing is exactly 35 to 1. It?s that simple. There is a common misconception that laying 11 to 10 provides the sports book with a 10 percent advantage. Winter sports, football, basketball and hockey carry a house percentage of 4.96 percent. If you were to bet 100 games laying 11 to 10 the most likely result would be 50 winners and 50 losers. That?s a fact rather then an opinion. You only pay 10 percent when you lose. Furthermore, the line maker is absolutely imperfect and subject to varying degrees of error. This is a game of opinion, and yes, 4.96 percent is a heavy load to go up against. Recognizing overlays or underlays is one of the two key factors that determines success or busto. I?m referring to true line value. The top pros live or die by that standard.
The second key is money management, which requires advanced knowledge and strict discipline. If that?s missing you're a dead duck. All of your plays cannot have equal value, therefore you should not bet equal amounts right down the line. If you do, you're going to need lots of luck and a friendly banker. The books will grind you out, and if anyone tells you otherwise, they?re amateurs. Don?t dismiss the intangibles, they too are very important. The size of your bankroll has to be factored in to determine your average bet. Betting on hunches, home team loyalty, heat or steam will generally knock you for a loop. Avoid playing against a drunk or someone you may have pin for. Strangely enough a hidden hex takes control, at least it seems that way. Play cautiously rather then scared. Stay focused, avoid prohibitive favorites. Keep your eyes and ears on the wiseguy smart money moves. They may know something you do not. When the line moves substantially make an attempt to find out who and why. If you can?t, stay clear. Blind following or playing off the wire sounds smart, but it?s not. Your subject to fall into a trap or a reverse, and there isn?t any room for error. Again, your ability to recognize and react to true value is the master key.
The next time you visit your favorite sports book try this one for size. Take 3 underdogs in baseball and hook them together this way. Make 3- two team parlays with an all 3. Example bet $100.00 on each two team parlay and $100.00 on the 3 teamer. Total investment is $400.00. You?re not going to cash out very often, but when you do score with those 3 puppies you?re going to ring their bell. I remember a friend of mine who was on the booking side of a similar wager. The player bet $1000.00 all 4 ways. The winning ticket totaled over $45.000.00. Now that was some kind of a score. Not a record but it was a bell ringer. It sent the bookmaker overboard busted, he never did recover. His bankroll wasn?t suited to accept the potential jeopardy, he became a victim of careless money management. When you're in the gambling mood you may want to try that one on your favorite bookie. Chances are he?ll turn you down unless he doesn?t know any better. Even the casino books might turn you away. Remember to increase the amount of your bets when you?re on a roll, and be sure to reduce when things just seem to be going the wrong way. Avoid the casino books with a dime line during the baseball season. Nickel lines offer you a good square gamble and are available. The Stardust and Caesar?s Palace deal the nickel line, and I?m sure there are others. One more friendly tip. Play with your head, not over it.
Good Luck, Stay Tuned.