Sharp Money by Dan Abrams

Today our guest is Dan Abrams.  He's on to talk about his new book, "Sharp Money". The book is about poker, sports betting, and investing.Show Notes[00:00]  introduction of Dan Abrams, sports bettor, poker player, and author of Sharp Money[00:34]  Dan’s start in poker[01:35]  Studying Razz [05:58]  Razz coaching and educational teaching videos[09:38]  Poker players famously losing money betting sports[11:01]  Rationale for over-betting your bankroll[15:49]  Increasing expected growth vs increasing expected value[22:44]  Hedging and arbitrage in financial markets[27:40]  Root unit staking system[35:05]  How do sports bettors know when they have an advantage?[36:46]  Indications of edge in financial markets[39:42]  Calculating edge ex-ante, bottom-up vs top-down betting[44:15]  Will Dan play in the WSOP?[44:42]  Sharp Money’s intended audienceLinks:GamblingWithAnEdge.comx.com/DoctorRazzWSOPBooks Referenced:Sharp Money by Dan Abrams - https://amzn.to/4uyZTgXBut How Much Did You Lose?  by Dan Abrams - https://amzn.to/43ktdvwSklanksy on Poker by David Sklanksy - https://amzn.to/4uYanpT

My guest today is Andrew Wimhurst, author of the new book, "Thieving Bastards True Confessions of the World’s Greatest Cheats."  Show Notes[00:00]  Introduction of Andrew Wimhurst, author of Thieving Bastards: True Confessions of the World’s Greatest Cheats[00:57]  Thirty years of book planning, interviews, and similar books[07:32]  Transcribing and editing interviews[11:42]  Changes in the cheating landscape[13:33]  Cheating in poker, the NBA poker scandal, and the x-ray table[17:44]  Andrew’s ideas  sequels or future  books about cheating [19:38]  The card mechanic “Bobby Machines”[23:48]  Cheats who get out of the lifestyle [28:46]  Road hustlers from the 1940s to 1970s[33:55]  Running Razzle at a casino in Cuba[38:47]  Financial reporting laws and the digital trail for modern cheats[40:17]  Cheaters problems with discipline and greed[41:42]  Andrew’s background in magic, card mechanics, and dice moves[45:53]  Andrew’s contact infoAndrew's Links;thecolddeckcompany.cominstagram.com/thecolddeckcompanyBooks Referenced;Thieving Bastards: by Andrew Wimhurst - https://amzn.to/4dS2s8xGambling Wizards by Richard Munchkin - https://amzn.to/4tLX7nBRoad Hustler by Robert C. Prus - out of printGambling Scams by Darwin Ortiz - https://amzn.to/4cchtkkHavana Nocturne by T.J. English - https://amzn.to/4cfsy2w

Our guest today is Kit Chellel, author of the new book, "Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game."  The book profiles three legendary gamblers, Bill Benter, Rob Reitzen, and Bill Nelson.Show Notes[00:00]  Introduction of Kit Chellel, author of Lucky Devils[00:41]  Kit’s background in journalism[03:25]  How did Lucky Devils come about?[05:42]  Meeting Rob Reitzen and Bill Nelson[08:52]  Gambling coverage in media[10:44]  The moment that computers revolutionized gambling[13:13]  Bill Benter and Alan Woods betting on horses in Hong Kong[17:26]  Rob Reitzen’s wearable tech and poker bots[25:11]  Banking tables in California [25:32]  Bill Nelson’s roulette play and the sports betting “The Computer Group”[29:49]  The FBI investigation into “The Computer Group”[31:31]  Roulette advantage players subculture[34:36]  Biased roulette wheels and design countermeasures[35:32]  The never ending war between casinos and advantage players[38:56]  The genesis of the title Lucky Devils[40:07]  Will Kit write about other gamblers?[41:43]  How can listeners contact Kit?[42:47]  Kit’s favorite resistant in Las Vegas that is not in a casinoGet Lucky Devils - https://amzn.to/48c5PTULinks:Bloomberg.com/authors/AQgXoqAi4I0/kit-chellelX.com/KitChellelTheoriginallindomichoacan.com

Our guest today is Antonino De Rosa, also known as "Ant."  Ant went from professional Magic the Gathering player to working for Pinnacle sports book and from there became a professional sports bettor.Show Notes[00:00]  Introduction of sports bettor, Antonio De Rosa[00:42]  Playing Magic The Gathering professionally[04:56]  Comparing Magic variance and skills to gambling?[08:29]  Getting a job at Pinnacle[12:07]  NBA totals at Pinnacle[14:05]  Dealing with losses, risk management[17:57]  Bad beats[20:39]  Leaving Pinnacle for Plannatech[23:29]  Becoming a bettor[27:04]  Market efficiency, manipulation, limiting players, etc[32:34]  New female accounts[33:49]  Identifying sharp play[36:44]  BetBash story[39:37]  Life lessons from gambling[42:15]  Favorite non-casino restaurant in VegasBooks Referenced:Fooled by Randomness by Nassim Nicholas Taleb

We have 3 guests today. Blair Rodman, Anthony Curtis, and Frank B. They are coauthors of the new book All About Sports Betting.Show Notes[00:00]  Introduction of Blair Rodman, Anthony Curtis, and Frank B., authors of All About Sports Betting:  The Definitive Guide[00:42]  What makes this book so unique?[01:55]  The genesis of All About Sports Betting[05:59]  Prop bets, parlays, same game parlays, and teasers[10:27]  QR codes within the book that link to additional information[13:17]  Violence in Puerto Vallarta[15:37}  Touts[18:33]  Bottom up, top down, and modeling[24:05]  Evolution of sports betting markets, future editions of the book[25:24]  Prediction markets[29:39]  Betting splits and other useless statistics[31:49]  Understanding variance and related behavioral biases[38:42]  Offshore sportsbooks, betting on credit, posting up, and settling up[43:33]  Optimal use of bonus bets at CaesarsLinks:All About Sports Betting - https://amzn.to/4kP8FU1X.com/capjack2000Unabated.com

Charlie is a sports bettor, slot player, and influencer. Charlie got scammed while making bets at a DraftKings kiosk at the Golden Nugget in Biloxi. It's a crazy story, not just the scam, but the way the casino, and Gaming Enforcement reacted.Show Notes[00:00]  Introduction of advantage player Chuck’s Lucks[00:40]  How did Chuck become an AP?[04:14]  Chuck’s second trip to Vegas and a $2500/spin slot[07:16]  Accounting for the W2Gs[08:45]  Getting scammed while betting sports in Mississippi[22:55]  YouTube influencers, deals, permission to record[28:59]  Plaza’s social media room and livestream[31:32]  Leverage as an influencer for deals, rebates, offsets, etc[32:48]  Filming AP slots, disguising entry points[35:00]  Editing videos and efficient use of content [37:05]  Selling influencer merchandise[37:30]  ChucksLuck and LeapingLizards channels[37:59]  Large jackpot payments and security concerns[40:27]  Favorite restaurant in Las Vegas that is not in a casino?Related Links:Lasvegasadvisor.com/gambling-with-an-edge/Youtube.com/@LeapingLizardSlotsYoutube.com/@ChucksLuck777Tacoselgordobc.com

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.comhttps://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