Got to meet Bob McCune (wrote a good gambling book or two) in the 80's. Sent him articles from the Mpls. StarTribune early in the week. It
was actually a job for me to supply 'info' to him, and I learned a lot about handicapping from him. He and Jack Painter were partners
and won the Super Contest once back in the day. Bob and his wife invited me to their home after
I moved out west and Bob's house was covered with data, dot matrix printer printouts. He had all the
data it was possible to have. But that's not what matters here: Bob told me numerous names who released
both sides of games, in the same day, one right after the other. I was stunned (naive) but he explained the math
of just how profitable this was. And it was mind boggling. I still have my scribbles from that weekend....
In simple math and with just ONE "service" "late telephone" (for example)
if "I" have 60 clients at $1000 week/month in todays money.
I go 5 - 0 with 10 clients
I go 4 - 1 with 10
I go 3 - 2 with 10
2 - 3 with 10, 1-4 with 10, 0-5 with 10 (These guys are done with you, but no one will ever know in the 80's.
Meanwhile the top 30 will now happily pay twice the price for "red hot" picks this week.
Of those 30 the pickster (sleazeball) will keep about 12, lose 18. Then the following week...he has very little
chance of losing half of week 3's suckers. (Can you imagine going say 10-5 and saying no if you are betting 10x
the price of the service?)
He sat their breaking it down for me as I asked about the losing weeks after 3 winning weeks. Because the first
few weeks his week 4 bettors were salivating, they would pay almost anything.
At that point the customers would be pretty pleased with themselves.
Finally after we played this game which he named names I had to sit down with some of THEM. Some were on
TV. Two of them were multi-millionaires and bought me nice dinners as I ran into them over the years. And not all,
but a few confessed to the deed of releasing both sides of the game to customers. BUT each had a similar excuse. "The lines
change kid, and you have to know that means smart money is being bet and that's our guys, so you not only get
(the word for arbitrage they would use, can't remember it) but it's a different pick altogether." By the way "Mort Olshan"
was not one of the names I was given and it was in that period that The Gold Sheet became an addiction.