Is it good for business? Exactly what does it do and how profitable is it, since everything the mob does is money oriented?
2006-08-26 11:09:40 · 8 answers · asked by ZORRO 3 in Society & Culture ➔ Cultures & Groups ➔ Other - Cultures & Groups
What I remember is that running numbers is taking gambling debts on the odds of winning certain sports games. Team X to win with so many points over Team Y. The numbers are what the odds and winning score ranges are. The money is made by all the bets taken in versus the little paid out.
2006-08-26 11:32:24 · answer #1 · answered by Travlin' Grama 5 · 0⤊ 0⤋
It's always been until recently very profitable, for the mob. you pick so many numbers as in the lottery and you would be told where to look for your numbers. or there would be a drawing by the mop of course and the number posted on your work place.
Here the small Town mobs ran a numbers racket for years .
Than on the day you collect or pay up they would tell you which box car on the evening train had the numbers on it.
The lotteries, dog tracks, and casinos, and online gambling has about done away with the numbers. It depended on uneducated hard working, hard drinking folks to keep it a float.
every numbers used to have a good pay out about once every 2/3 years back than to keep the money flowing. My grandfather would tell of how the numbers would about dry up until someone at the saw mill would win and drive up in a new car:):), renewing interest in the scam. (this was over 60 years ago.
In large towns where it got it's start like new york and Chicago numbers runners often were business men like salesman's who had regular routes, though out their assigned territories, They in turn would have sub runners(usually store owners who would handle the transactions for them and pass the money on until it hit the big guys where it originated. This was a system designed to protect the mob leaders.
2006-08-26 11:27:35 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The winning numbers were the last whole number + 2 decimal points in the Dow Jones average, or so I was told a LONG time ago when I lived in NY.
It makes sense, no one could guess and it changes daily M-F
Penny
2015-07-17 07:19:00 · answer #3 · answered by Penny 1 · 0⤊ 0⤋
They set bets depending on how likely it is for something to win, if you bet on a sure thing, there is less of a payout than betting on an underdog, but then it is a lot less likely to win with the underdog.
They make money from the people who place losing bets, and have to pay the people who place winning bets.
They might make money, or they might lose money depending on how good they are at 'running the numbers' or setting the bets based on the odds of win/lose.
2006-08-26 11:17:42 · answer #4 · answered by Loulabelle 4 · 0⤊ 1⤋
Betting
2006-08-26 11:13:18 · answer #5 · answered by fifi 5 · 0⤊ 1⤋
numbers like a neighborhood lottery and odds on betting
2006-08-26 11:17:07 · answer #6 · answered by Anonymous · 0⤊ 1⤋
running bets.its good for them & very profitable.
2006-08-26 11:15:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋
bets
2006-08-28 18:27:50 · answer #8 · answered by choco taco 3 · 0⤊ 1⤋