Gambling With an Edge

This week we talked with long-time Vegas bookmaker Art Manteris.  We discussed his new book, "The Bookie."

Show Notes

[00:00]  Introduction of Art Manteris, author of The Bookie
[00:47]  Bookmakers from Western Pennsylvania
[01:47]  Legendary bookmaker Uncle Jack Franzi
[05:21]  Working at the mob-controlled Stardust
[08:27]  Why did Art move to Las Vegas?
[09:46]  Billy Walters stories
[11:57]  PASPA, using computers across sportsbooks and racetracks
[15:18]  Art's concerns about the expansion of gambling
[17:00]  Frank Rosenthal at the Stardust
[18:18]  Tony Spilatro
[20:26]  Meeting Ron Sacco and sportsbooks in the Caribbean 
[23:56]  Pinnacle
[25:58]  Sports betting in Nevada, climate and regulations
[29:53]  Will "Refrigerator" Perry touchdown prop
[31:40]  Negotiating huge prize fights in Vegas with Don King and Bob Arum
[34:13]  Building the sportsbook at the Hilton
[35:27]  Did Art sweat big positions and games?
[37:04]  Setting open lines
[39:13]  Being the first to post Super Bowl props
[40:44]  Prop betting on college sports
[43:17]  Circa sports book
[44:26]  Parlays
[46:58]  Using analytics to analyze payouts on parlays, teaser, and contests
[48:36]  Did any bosses or owners want to take positions on games?
[52:23]  Favorite restaurant in Las Vegas that is not in a casino?
[53:56]  Can listeners contact Art on social media?

Get Art's book, "The Bookie" https://amzn.to/45nzCYp

Bob and Richard sit down with Gary Kondler to talk about taxes for gamblers after the big beautiful bill.  It may not be as bad for some of us as we all thought. Spoiler alert - but some gamblers are just screwed.

Show Notes

[00:00]  Introduction of gambling tax expert Gary Kondler from Kondler & Associates
[01:36]  W2Gs under the new tax law
[05:24]  Reconciling W2s with session win/loss
[09:43]  An example of casino gambling profit and discussion of similar case law
[18:04]  Sports betting example
[20:46]  Could a day of betting across different sportsbooks be considered a single session?
[24:28]  Arbitrage bettors versus poker players 
[27:06]  What type of gambler would benefit from creating an S corp
[30:00]  Casino generated win/loss statements
[31:54]  Should clients file on time or file an extension?
[37:49]  IRS layoffs 
[40:57]  How can listeners contact Gary?
[42:45]  Brian Camp’s legal opinion
[44:55]  Kalshi and other predictive markets
[47:48]  Professional versus non-professional gambler
[51:34]  Does filing with losses affect the professional gambler classification?

Links:
Kondlercpa.com

https://www.taxnotes.com/special-reports/gains-and-losses/taxation-gambling-after-obbba/2025/08/14/7sxhn

Today I speak with Norm Beck, a professional bridge player, magician, and friend about a bet he won, that turned out to be a big loser.

Show Notes

[00:00] Introduction of Norm Beck, bridge player and magician
[00:37]  Norm’s biggest gamble
[06:40]  Clever pre-surgery research strategy
[13:07]  Hiring another doctor to translate information to family
[14:49]  Getting into the gambling business
[20:30]  Booking action on random events
[23:28]  A billion dollar bet
[31:23]  $500k bet on changing a tire 
[33:45]  “Win Your Line of Credit” blackjack tournament
[41:21]  How to contact the show

Buzz Marconi moved to Las Vegas in the 1960s, and somehow transformed from an Italian kid from the south side of Chicago into Cowboy Buzz. It's a wild story.  Check it out.

Show Notes

[00:00]  Introduction on of Cowboy Buzz
[02:07]  Moving to Las Vegas, working at The Stardust
[20:53]  Brilliant mob casino strategies
[23;10]  Tony Spilotro and Frank "Lefty" Rosenthal
[27:19]  Becoming a shift boss Foxy's Firehouse
[29:28]  Did certain dealers cheat players?
[31:06]  A wild craps swing on credit and Milton Jaffe
[35:20]  Milton Jaffe magic trick
[37:06]  Opening a restaurant in Las Vegas
[41:09]  Stories about dealers, cheating, and work ethic
[46:59]  Cowboy Buzz's juice is revealed
[48:51]  Naked women tanning at The Tropicana pool
[55:53]  Becoming "Cowboy Buzz"
[1:02:07]  Playing rugby age 73
[1:04:51]  Meeting Max Rubin
[1:09:05]  The first Blackjack Ball
[1:10:30]  Being a clown diver at Caesars Palace

Bob is off playing the secret game, so I get together with Max Rubin, and Colin Jones to discuss the 2025 Blackjack Ball.

Show Notes

[00:00] Introduction of Max Rubin and Colin Jones to discuss The Blackjack Ball
[00:45] Colin’s induction into The Blackjack Hall of Fame
[01:26] Changes to voting for The Hall of Fame and BJ Traveler discussion
[06:55] Costume party and best costume [13:20] Ed Thorp
[14:49] UCLA Gambling Studies Program [20:13] Card counting competition
[24:49] Quiz and final table games (cutting and sequencing) 
[36:03] Evolution of The Blackjack Ball
[40:23] Other highlights from this year’s Blackjack Ball 

Links:

Interview with BJ Traveller https://youtu.be/mnQmlrxApcE

UCLA Gambling Studies Program https://uclagamblingprogram.org