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Matthew Cox | Inside True Crime Podcast

Casino Boss Explains How To Beat The System...

07 Dec 2024

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Paul Schiffbauer Explains how Illegal gambling works. Pauls's Links https://linktr.ee/themachineman Get 50% sitewide for a limited time. Just visit https://GhostBed.com/cox and use code COX at checkout. Do you want to be a guest? Fill out the form https://forms.gle/5H7FnhvMHKtUnq7k7 Send me an email here: [email protected] Do you extra clips and behind the scenes content? Subscribe to my Patreon: https://patreon.com/InsideTrueCrime 📧Sign up to my newsletter to learn about Real Estate, Credit, and Growing a Youtube Channel: https://mattcoxcourses.com/news   🏦Raising & Building Credit Course: https://mattcoxcourses.com/credit 📸Growing a YouTube Channel Course: https://mattcoxcourses.com/yt 🏠Make money with Real Estate Course: https://mattcoxcourses.com/re Follow me on all socials! Instagram: https://www.instagram.com/insidetruecrime/ TikTok: https://www.tiktok.com/@matthewcoxtruecrime Do you want a custom painting done by me? Check out my Etsy Store: https://www.etsy.com/shop/coxpopart Listen to my True Crime Podcasts anywhere: https://anchor.fm/mattcox Check out my true crime books! Shark in the Housing Pool: https://www.amazon.com/dp/B0851KBYCF Bent: https://www.amazon.com/dp/B0BV4GC7TM It's Insanity: https://www.amazon.com/dp/B08KFYXKK8 Devil Exposed: https://www.amazon.com/dp/B08TH1WT5G Devil Exposed (The Abridgment): https://www.amazon.com/dp/1070682438 The Program: https://www.amazon.com/dp/B0858W4G3K Bailout: https://www.barnesandnoble.com/w/bailout-matthew-cox/1142275402 Dude, Where's My Hand-Grenade?: https://www.amazon.com/dp/B0BXNFHBDF/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1678623676&sr=1-1 Checkout my disturbingly twisted satiric novel! Stranger Danger: https://www.amazon.com/dp/B0BSWQP3WX If you would like to support me directly, I accept donations here: Paypal: https://www.paypal.me/MattCox69 Cashapp: $coxcon69 Learn more about your ad choices. Visit megaphone.fm/adchoices

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0.129 - 21.413 Host

When we got the machines, there was control switches inside. 60% payout, 50%, 40%. You had to hide that. They were splitting like $60,000 a week. I never got hit by the cops because I would money laundered too. Me and my boss, we started the date, and she feels comfortable enough to take me to her family functions. And a lot of these functions were at her brother-in-law's house.

0

21.473 - 41.765 Host

Now, he was 20 years older than me. They started asking me a lot of questions, like right off the bat, oh, but how was the military? What did you do? What are your future plans? I said, you know, hopefully FBI, this and that. And so they felt like I felt like it was like Sonny was like interviewing me. And then he started talking about, you know, what he does. He goes, I own a vending business.

0

41.825 - 60.815 Host

You know, I'm thinking, OK, pool tables, jukeboxes. things like that. He goes, well, you know, I have poker machines too. And, but we'll, you know, we can talk later about that. So initially he wasn't telling me a lot about that. So this one particular night, it was probably four months after I first met him and started going to these functions. He came to check in at a hotel, it was 11 o'clock.

0

60.895 - 77.146 Host

It was, he checked in, he goes, what time to get off, kiddo? And I said, 11 o'clock. He goes, come on up. So I go up there and he starts telling me about the business and Now, this guy was like – he was like very, very smart, but he used it for crime. He had this briefcase sitting by his bed, and he knew I'd be like looking at it.

0

77.667 - 98.52 Host

And he's telling me about the business, the poker machines and this and that and this gray area. And he says, I'll start you at $35,000 a year. I'm like, to start at $35,000? I'm like, $35,000. He goes, yeah, what do you think? I said, I don't know. Then he opened this briefcase that I had been staring at. He did this, you know, he's very tactical. And he opened it up.

98.56 - 119.354 Host

He said, this was my half this week. It was 30 grand in there. It was six bundles of money band up, 5,000 each. And he threw a bundle to me. So I grab it. I'm holding this bundle. I said, man, he goes, what do you think about that? I said, that's more money I made the first year in the army. Five grand. It was. And I said, I never had that much money in my possession ever.

120.014 - 140.42 Host

He goes, well, you come work for me. You run the, you know, move equipment around. You'll learn how to fix things. You'll learn the whole trade. And eventually maybe you'll be a route man. And so he's like saying, would you consider working for me? And I'm like, I don't know. This thing may, you're talking about poker machines. He goes, well. We're kind of like bankers, you know?

141.14 - 158.237 Host

But in a way it's true because what was going on, if you work for Joe's Bar and he's selling, he wants to get out. So you're the bartender and he wants 300 grand. 300 grand is not a lot of money, but it didn't come with the property. It was just liquor license, a little corner bar. You go to a bank, they're not going to loan you money. You're nobody.

158.718 - 179.13 Host

So they will come to guys like these operators and say, hey, I'm looking at Joe's bar. He wants like $25,000 down. And they would go check it out. If they thought they could make the $25,000, they'd loan them back in a year, get them to sign a five-year contract. They'd do the deal. But in the process, if they loan them the money, they tie up their liquor license.

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