It is said that the gambling business, in all its various forms, is the very lifeblood of organized crime. Bookmaking on horses and sports, the policy or numbers lottery business, dice and card games, slot machines, and a variety of other games of chance became the most important and prominent racket after liquor prohibition ended in 1931. It remains so to this day.
But if gambling is number one, then nipping at its heels close behind is shylocking, which, without a doubt, is number two as the top revenue producer for the mafia today, as it has been for many decades. Gambling and loansharking go together like “bread and butter.” They naturally complement one another and follow suit. Often, after a betting customer gets in over his head with gambling debts, he will be referred to a local shylock to borrow the money needed to pay off his bookie.
If the bettor is what we call a “DG,” or degenerate gambler, this can oftentimes become a vicious cycle in that time and again he’ll repeat this process until the gambler is so in debt that he can never get out from under the money he owes out. Because as soon as he does get “even,” he jumps right back into the shit, betting his balls again on credit with money he may not have to back up his bets if he loses. He then has to try and secure another loan from the loanshark to square up the bookie again.
This process is often how a bettor ends up with a mob guy as a partner in his business. It may be the only way to settle all his debts. If he doesn’t have a business, he may become obligated and compelled to come up with another way to pay off his debts.
