Computer group sports betting
Today, head fakes play out in real time online, on odds screens that light up when point spreads and totals start to move. It's beautiful the way they do it. For the past 40 years, Walters has had more influence on U. He has almost a mystical presence on the market, causing a sense of paranoia among bettors and bookmakers, who are constantly trying to figure out which of Walters' bets are legitimate and which are head fakes.
Even while Walters was serving time in federal prison for an insider trading conviction, rumors of which side he was on regularly circulated in the sports betting community. Walters' sentence was commuted in January by President Donald Trump. The running joke among professional bettors is that Walters never lost. In the mids, the Stardust casino and resort in Las Vegas was home to the most influential point spreads, totals and odds in the nation. When Stardust sportsbook director Scotty Schettler's crew put up a number, everyone paid attention -- including competing bookmakers in Las Vegas.
Bettors would line up every morning to get a crack at the Stardust's opening spreads, even going as far as hiring stand-ins to wait overnight and hold their place in line. The sportsbook put up stanchions to keep the herd of bettors organized, but they simply moved them out of the way. Schettler ultimately created a morning lottery, using a deck of cards to determine which bettors would get to go to the betting windows first.
As legend has it, the payphones outside of the sportsbook were the busiest in the nation, with associates of bookmakers from around the nation calling their bosses to report the Stardust lines. Some sportsbooks in Las Vegas would wait until after the initial wave of betting at the Stardust to see how the lines moved. They then copied the adjusted numbers and posted them at their own shops. At 8 o'clock in the morning, we'd put our line up and the entire country followed it.
Betting a few thousand dollars at the Stardust allowed them to basically create the line they preferred at every sportsbook in the nation. That is the true power of the head fake, the ability to move the line throughout the market, not just at one sportsbook. ET, ESPN2 that aims to better serve the millions of sports fans who participate in sports wagering and help educate general sports fans with in-depth analysis.
Manteris spent 40 years taking bets at some of the biggest sportsbooks in Las Vegas before retiring earlier this year. The Packers opened as approximately point favorites over the John Elway-led Broncos. Manteris remembers a flurry of early action on Green Bay that pushed the number up to as high as He perceives himself to be a rare gambling success story - a man who was in debt before he came to Las Vegas.
At 43, he wonders why he isn't put forth as a role model. If you can get arrested for betting games here Inviting a reporter upstairs, he visits with his son, Scott, 22, is no bigger than a year-old, and outside the house he wears a cap or wig to cover the hair loss caused by his cancer treatments.
He recently got his first job, as a busboy at the Horseshoe casino downtown. His father says he could be no prouder of his son. In this relationship the gambler is called "sir. There he lives atop the Regency Towers, which stands like a castle overlooking Irwin Molasky's kingdom. At one time the Regency Towers was known as a high palace for the mob. Irwin Molasky would surely argue that this no longer is the case.
Indeed, he commenced another debate over a piece of real estate in , when the subject was his California resort Rancho La Costa. At that time, Penthouse magazine reported the La Costa was controlled by "mobsters," that it served as their "power center," and that it used "illegal profits" from "the mob's worldwide operations. It is important that he be recognized as a sober and legitimate businessman.
And in fact, Molasky has never bee charged with a crime. Molasky's attorney, Stanley Hunterton, readily admits that his client enjoys betting on ballgames, as do thousands of his fellow residents Las Vegas, where is can be a legal and rather social activity. However, Dr. Ivan Mindlin was not interested in currying favor with thousands of legal bettors.
He was interested mainly in Irwin Molasky. For years, Dr. Mindlin had been pretending to be the brains behind the Computer Group, claiming to be the inventor of its unbeatable program for forecasting ballgames. It appears that Dr.
Mindlin was never much more than an intermediary for the group, as his own attorney admits today. But Mindlin surely knew how to maximize his position. By sharing the group's betting information with Irwin Molasky, and making a winner out of Irwin Molasky, he became a friend of Irwin Molasky. When Dr. Mindlin needed help in the commodities business, who did he look to? Irwin Molasky, with whom he became partners in the purchase and sale of commodities, according to attorney Stan Hunterton.
Michael Kent, the mathematician who established the Computer Group's forecasts, recalls hearing Dr. Mindlin speak of Molasky in Well, for some reason that day, the team we took had jumped up to 5 points - which almost never happened. Usually when we took a team, the points went in our direction. And we were able to use the money to bet on the 5, which was a better bet. Then, in , the government began to resurrect its case. Molasky hired Hunterton, who says he had served as a special attorney within the Organized Crime Strike Forces for 10 years, until Hunterton acknowledges that he was involved in the early stages of the government's case against the Computer Group, approving requests made by FBI special agent Thomas Noble.
But Hunterton denies the assertion, made by others in the group, that representing Molasky was a conflict of interest. Using his contacts - which the attorney admits were the reason Molasky hired him - Hunterton reportedly was able to win immunity for Molasky, in return for his testimony before the grand jury. However, Molasky's testimony seems to have been a mere formality.
Irwin Molasky's record as a law-abiding citizen was thus preserved, and his good name has been spared. However, some of the indicted members of the Computer Group think he may not be entirely finished with this business - not yet, anyway. If their case goes to trial in November, as scheduled, they plan to subpoena Molasky and question him vigorously, not only about his betting with Ivan Mindlin, but also regarding his attorney, Stanley Hunterton, who played both sides as effectively as anyone in the Computer Group ever had.
So began the end of the Computer Group. He wanted to know how the group was run, and what became of his information after he gave it to Dr. Mindlin, and how much money his program actually was generating. His partners in the computer group informed Kent that his precious information was being shared with the outside world in ways that could only profit Mindlin. Mindlin even seemed to profit from the FBI's raids. Kent alleges that when the raids shut down the group's activities six weeks into the college basketball season, Mindlin claimed the group had simply broken even on its bets to that point.
Therefore, no profits would be paid to any members of the group. By Kent had hired a lawyer of his own, Steven Brooks of Boston, who advised him that many of his current practices with Dr. Mindlin were either illegal such as Kent's failure to pay taxes or inexplicable his failure to oversee Mindlin's handling of the money. Kent says he tried to change the way he conducted business with Mindlin, but had little success. Wary that he could not account for the actions of his partner, Michael Kent nonetheless kept trying to deal with Mindlin.
In return, Kent would tell Mindlin which teams to play and how much to bet, and Mindlin could keep all profits. However, Kent says, the forecasts lost money for Mindlin in the first week, at which point he canceled their agreement. At this point Michael Kent was at the end of his rope. He had placed all of his trust in Dr. In return Mindlin had seemed to treat him like a son. The truth of their relationship, Kent now believed, was that he had been playing the fool to Mindlin for all these years.
They suspect that he owes them more, but in all likelihood they will never be able to prove it. Kent agreed to explain what he knew about the Computer Group and turn over evidence. In exchange, he was granted immunity from prosecution. Today he accuses Kent of extortion. Mindlin, If you don't pay me the money you owe me, then I'm going to the feds with you.
Kent is a bright guy in mathematics. He knows numbers like nobody else. But he's absolutely dumb from a common-sense standpoint. And Kent had no idea. I was the guy who moved the money. Vanity and greed had infected its affairs. The computer wizard, Michael Kent, was refusing to supply his information, and the gambler, Billy Walters, was refusing to move the money. Yet Dr. Mindlin was still in business.
He hired Kent's friend, Mark Ricci, of all people, who in the 's had worked with Kent at Westinghouse. Mindlin's new group had its run of modest success, but it could not begin to compare with the impact he had made with the Computer Group.
Indeed, the doctor was something of a tragic figure, broken by his own greed, devastated personally as well as professionally. While trying to recoup his relationship with Michael Kent, the doctor had engaged in a worldwide, yearlong search to find a cure for his only son, Gary Mindlin. In the end, he succumbed to a cancerous brain tumor, the same type from his Billy Walters's son had been so miraculously spared. The another tragedy struck the Mindlin household.
In , the doctor's wife, Georgia Mindlin, died from respiratory failure consistent with an allergic reaction. The coroner found that she was probably allergic to penicillin - penicillin that she apparently received from her husband, the doctor. The autopsy report indicated that Georgia Mindlin, 56, was suffering from a sore throat on March 19, Mindlin admitted to giving her to milligrams of penicillin, which she took orally, after her evening meal.
Some 25 minutes later she told her husband that she wasn't feeling well. She got out of bed and collapsed, falling into cardiorespiratory arrest. The doctor called for an ambulance. The police arrived at p. Police say that Dr. Mindlin attempted to revive his wife with a shot of adrenaline after her airway had closed off in reaction to the penicillin. Once the airway closes off, oxygen can't get to the brain. When Michael Kent was deposed last year for his lawsuit against Mindlin, the doctor's attorney questioned him repeatedly about the death of Georgia Mindlin.
Kent admitted that the FBI had indeed asked him about it, but said he'd known little of her death - as little as he had known about Dr. Mindlin's betting activities with the Computer Group. Schmidt is surprised to hear of the FBI's interest in Georgia Mindlin, considering that the Bureau never asked him for his report. As for his own probe, Schmidt says he found nothing more than the hunches of relatives to make him suspect foul play.
He declares the investigation inactive. They say he works with a beard in Miami, using the same program Michael Kent developed 10 years ago. Kent himself would be the first to warn his successors that the business is no longer so easy. Kent has formed a legal sports betting corporation with two partners - his brother John Kent and their friend, Mark Ricci, who stopped working for Mindlin in When Michael Kent was a mere centerfielder, trying to decipher the strengths and weaknesses of his softball team at Westinghouse 18 years ago, there was no real computer science in sport.
Kent was at the leading edge of all that. Today every statistic is calibrated, measured. Every human decision can be backed by numbers. Michael Kent was among the first to find reason within the numbers. In November, if all goes as planned - and there is nothing in the history of this case to suggest that it will - his partners will be reunited in the courtroom once more Kent himself was granted immunity.
Though Assistant U. Attorney Eric Johnson was the lead prosecutor in the government's investigation of the Computer Group five years ago, and though his name is listed atop the Jan. At that critical point, the six-year case will be handled by Jane Hawkins, even though she has been an Assistant U. Attorney for less than two years. George, before whom - and a fine coincidence this is - she will be trying the case. Abandoned now by all the others who have worked on this case, Noble seems to be hanging out to dry.
He works for the FBI out of Chicago these days, his reputation stained. For six quixotic years he led the chase after the Computer Group in the belief that it was the largest bookmaking operation in the country. Following Noble's lead, the FBI obtained wiretaps on the group's telephones for five months, until there existed more than 1, hours of taped conversation, which then had to be laboriously reviewed and transcribed.
He requested and was granted the aid of special agents to follow the group's actions all over the nation. He provided information that resulted in raids of 45 homes or offices in 16 states. He requested a raid of the Internal Revenue Service. But he knew what he was doing! He oversaw the seizure of evidence by the truckload: bank checks, the origins of which had to be traced, hundreds of thousands of dollars with serial numbers that demanded verification, gambling ledgers that had to be interpreted, not to mention , pages of computer printouts, incomprehensible to all but Michael Kent.
There were 89 boxes of evidence in government storage, much of it still there today. Then there was the matter of dealing with this vast array of people. Every man and woman raided had a lawyer demanding appeasement. The government sent Eric Johnson and other attorneys to various sites, defending the FBI's right to retain evidence, including large amounts of cash. It is no easy thing to capture a group of criminals these days.
Thomas Noble still maintains his firm belief that the Computer Group was a criminal enterprise worthy of prosecution. But at what cost? Then, in January, after six years of investigation and review, after the case had been opened and shut and opened again, the indictments at long last came down in Las Vegas. Nineteen men and women were placed under arrest. Each was charged with up to counts of conspiracy, gambling and racketeering, related to their obvious use of the telephone to place bets and exchange betting information across state lines.
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Arbitrage Betting Guide for Beginners: No-Risk Sports BettingONLINE SOCCER BETTING CANADA
In other words. Nonetheless, they had guns. Real guns, loaded with real bullets. The men behind the Marcus Sports Service were scared almost to death. The Brooks Brothers colleagues of Fat Matt Marcus had been nothing more than governmental meter maids. If you look carefully at the warrants, you'll see that we knew. We don't operate in a vacuum. In layman's terms, one government agency raided another government agency in order to convince the criminals that the other government agency was not in fact a government agency, but was rather an illegal operation that happened to be run like a government agency.
Senators, Harry Reid and Richard Bryan, asked to see the records and reports of the undercover bookmakers, to learn what good had come from the sting. In his reply. IRS Commissioner Frederick Goldberg informed the senators that the records of Project Layoff, as it was named, were no longer available.
They had been "disposed of. The rumor in Las Vegas is that these were accrued by the notorious Tony Spilotro who - as it turned out was simply continuing his career of stiffing the IRS. But it's not as if the 1R5 is going to have to go through a terrible punishment, like, say, an audit.
He was worth more dead than alive, as they say. For too many years he had been operating a used-car dealership in his home state of Kentucky, and then gambling away the profits. He was in debt to several bookmakers, and he could not command credit. At 35, into his third marriage, with an ill son who was supposed to have died years before, Billy Walters believed he had no alternative but move to Las Vegas, to be a full-time professional gambler, to lay all that he had on this one final hand.
Walters can pinpoint his problems from those days, now that he is worth millions of dollars. As recently as , when he was preparing to leave Kentucky, he had lacked focus. He was a gambler, that was definite, but he had no idea how to gamble professionally. He wanted to win every single day. When he lost at the race track or when he lost betting games or when he lost playing poker or when he lost playing golf, he always felt compelled to get down another bet, to retrieve what he had lost that very day.
He recalls an evening in Kentucky when he was pitching nickels with a friend. The wagers grew until Billy Walters had lost his house - his house, from pitching nickels. Then he had to come home and tell his wife. Standing now in his kitchen, head down, hands in pockets, he seems to be recreating the scene. And we might have to move.
He kept the house, but he lost his wife. She left him. That was his second wife. Fifteen times I've come home where I've lost every single penny we've got," he says, as if revealing a scar. His father died when William Thurman Walters was not yet 2 years old, and his mother ran off, and his grandmother, who was a maid in Mufferville, Ky. His uncle ran a pool hall. Billy Walters estimates that his first bet was made at the age of 5, when his uncle would assemble islands of Coke cases around a pool table so that the boy could reach the felt.
As soon as he began to work, his grandmother charged him rent. He hustled pool, betting his rent money. He was not yet a teenager. At 13 he moved back in with his mother, in Louisville. At 16 he had fathered a child and married the mother. Some morning he worked till at a bakery, some nights it was 3 to 11 at a gas station. Most days he went to school. Sometimes he ran a poker game - he was still just a teenager - in a house adjacent to Billy's Lounge.
That marriage lasted one year. It's been much longer than a decade since he's seen his daughter. His occupations have included newspaper boy, farmhand, shoe-shiner, baker, tobacco worker, foundry worker, painter, car dealer, realtor. To him, these were mere side jobs. In his mind he was a professional player - of pool, gin rummy, poker, blackjack, roulette, golf, the horses, whatever. He remarried and with his second wife had two sons, which has since led Billy Walters to decide that his own childhood was not so desperate.
His oldest son, Scott, should have been dead at the age of 5. After radiation they told us every day he was going to die. I stayed drunk the whole time. I was 26 at the time. It was the only thing in my life I wasn't able to handle. I neglected my business and my family and stayed drunk. After nine months I went back to running the business. They will celebrate their 14th anniversary in September. She moved with him to Las Vegas in and served as his accountant when he began to move money for the Computer Group.
She was indicted with him in January and expected to go to trial with him in November , if the case got that far. Walters says he went to work for Dr. Ivan Mindlin in , making bets in Las Vegas and a few other territories. By then the Computer Group was four years old and churning out millions in profits each season. In return for his work, Walters received free use of the group's betting information. Because he didn't have to share his profits with others, he might have been earning more from the Computer Group than Michael Kent, the computer wizard who so naively trusted Dr.
For the first time in his life, Billy Walters was winning consistently and holding onto the money. He invested in real estate, fast food franchises and other ventures. His confidence was such that he could play golf matched for thousands of dollars. Apparently, Walters hired agents to take notes at the roulette tables, in attempt to locate "biases," or patterns, in the wheels. Nobody knows his secret, and he isn't saying, though he admits he has been barred from playing roulette in the major casinos.
Late in , Walters' reputation had risen so high that he was invited to join the Computer Group on a percentage basis. In other words, he would share in profits with Michael Kent, Dr. Mindlin and other core members of the group. Walters continued to place additional bets for himself until January , when the FBI raided the group of its records and cash, shutting down Walters for the remainder of the college basketball season.
He complains about harassment by the FBI, saying it confiscated funds and refused to transfer them to the IRS to pay his taxes. He claims he is persecuted in part because the government loathes his attorney, Oscar Goodman, a colorful Las Vegas lawyer who has represented many mob figures. For three years they tell us the case is dead. Then all of a sudden, two weeks before the statute of limitations is going to run out, they come back with these indictments.
The day before we were indicted, my attorney Goodman tried to contact the Strike Force to say we would be willing to turn ourselves in. The Strike Force wouldn't return his calls. The next day they come barging into my house, drag me out of bed, put my wife in leg irons. I'm telling you, you don't believe it until you've gone through something like this, what the government can do to you. He perceives himself to be a rare gambling success story - a man who was in debt before he came to Las Vegas.
At 43, he wonders why he isn't put forth as a role model. If you can get arrested for betting games here Inviting a reporter upstairs, he visits with his son, Scott, 22, is no bigger than a year-old, and outside the house he wears a cap or wig to cover the hair loss caused by his cancer treatments. He recently got his first job, as a busboy at the Horseshoe casino downtown. His father says he could be no prouder of his son. In this relationship the gambler is called "sir.
There he lives atop the Regency Towers, which stands like a castle overlooking Irwin Molasky's kingdom. At one time the Regency Towers was known as a high palace for the mob. Irwin Molasky would surely argue that this no longer is the case. Indeed, he commenced another debate over a piece of real estate in , when the subject was his California resort Rancho La Costa. At that time, Penthouse magazine reported the La Costa was controlled by "mobsters," that it served as their "power center," and that it used "illegal profits" from "the mob's worldwide operations.
It is important that he be recognized as a sober and legitimate businessman. And in fact, Molasky has never bee charged with a crime. Molasky's attorney, Stanley Hunterton, readily admits that his client enjoys betting on ballgames, as do thousands of his fellow residents Las Vegas, where is can be a legal and rather social activity. However, Dr. Ivan Mindlin was not interested in currying favor with thousands of legal bettors. He was interested mainly in Irwin Molasky.
For years, Dr. Mindlin had been pretending to be the brains behind the Computer Group, claiming to be the inventor of its unbeatable program for forecasting ballgames. It appears that Dr. Mindlin was never much more than an intermediary for the group, as his own attorney admits today. But Mindlin surely knew how to maximize his position. By sharing the group's betting information with Irwin Molasky, and making a winner out of Irwin Molasky, he became a friend of Irwin Molasky.
When Dr. Mindlin needed help in the commodities business, who did he look to? Irwin Molasky, with whom he became partners in the purchase and sale of commodities, according to attorney Stan Hunterton. Michael Kent, the mathematician who established the Computer Group's forecasts, recalls hearing Dr.
Mindlin speak of Molasky in Well, for some reason that day, the team we took had jumped up to 5 points - which almost never happened. Usually when we took a team, the points went in our direction. And we were able to use the money to bet on the 5, which was a better bet. Then, in , the government began to resurrect its case. Molasky hired Hunterton, who says he had served as a special attorney within the Organized Crime Strike Forces for 10 years, until Hunterton acknowledges that he was involved in the early stages of the government's case against the Computer Group, approving requests made by FBI special agent Thomas Noble.
But Hunterton denies the assertion, made by others in the group, that representing Molasky was a conflict of interest. Using his contacts - which the attorney admits were the reason Molasky hired him - Hunterton reportedly was able to win immunity for Molasky, in return for his testimony before the grand jury.
However, Molasky's testimony seems to have been a mere formality. Irwin Molasky's record as a law-abiding citizen was thus preserved, and his good name has been spared. However, some of the indicted members of the Computer Group think he may not be entirely finished with this business - not yet, anyway. If their case goes to trial in November, as scheduled, they plan to subpoena Molasky and question him vigorously, not only about his betting with Ivan Mindlin, but also regarding his attorney, Stanley Hunterton, who played both sides as effectively as anyone in the Computer Group ever had.
So began the end of the Computer Group. He wanted to know how the group was run, and what became of his information after he gave it to Dr. Mindlin, and how much money his program actually was generating. His partners in the computer group informed Kent that his precious information was being shared with the outside world in ways that could only profit Mindlin. Mindlin even seemed to profit from the FBI's raids. Kent alleges that when the raids shut down the group's activities six weeks into the college basketball season, Mindlin claimed the group had simply broken even on its bets to that point.
Ivan Mindlin, an orthopedic surgeon and heavy gambler, whom Kent had met through a mutual friend, became the solution. And just like that, the Computer Group was born. Kent was all too happy to focus on his program and Mindlin was all too happy to use his gambling world contacts to expand the scope of the operation beyond anything Kent had ever imagined. Rumors of profit in the tens of millions soon spread and those rumors eventually reached the ears of FBI agents.
Those agents became convinced that the Computer Group was an illegal bookmaking operation working in concert with the Italian mafia to manipulate betting lines. The raids also revealed that the operation was much bigger than Kent had assumed. He was under the false impression that the Computer Group was made up of himself, family, Mindlin, and a few others who helped Mindlin place bets. Still, the Computer Group folded in Kent went on to form a three-man gambling group with his brother and a friend that actually bothered to report its winnings to the IRS.
Mindlin still lives in Las Vegas and recently spoke at a sports betting conference. In this case, the FBI made a fool of itself by pursuing a glorified conspiracy theory, but it did put an end to the tax-evading Computer Group. The syndicate had simply grown too big, too fast, and too reckless to avoid scrutiny.
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