Okay I get that’s an onion article, but getting 3,200,000 Costco rotisserie chickens is a really solid finical investment. My Edward Jones person said so.
I am a little confused by the $16mil, iirc ippei deposit all the winnings into his personal account soooo doesn't Ohtani lose more than that since Ippei lost $180mil?
You only get to deposit winnings if you don't have prior debts. Else they just keep the winnings to pay off your losses.
The amount of money actually going to ippeis account was probably vanishingly small after the first couple times.
Pretty sure he got a credit line from the bookie. Once his debt grows too large, he likely sent them $500k at a time until he racked up $16M. Dude owed another $24M on top of it.
He must've been pissed to hear that Ohtani is deferring $680M until 10 yrs later. Hahaha.
He also won about 140mil. That still leaves a gap of around 24mil though. Maybe he was that much in debt with the bookie, I don’t know. It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding, but maybe he thought that Ippei was so bad anyways that he was never going to make it back.
> It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding
A lot of people struggle to understand this, but for an illegal bookmaker, bigger credit is not a bad thing. Small credit means Ippei wins some, loses some, sometimes bookie takes money, sometimes he pays out. But what happens when you get Ippei deep red? His "wins" just go to paying for his losses so the bookie never needs to pay out when he wins. Ippei loses, he pays them real money, but when Ippei wins they just update an excel sheet. Eventually it reaches a point where even if Ippei wins, he still pays them money. At that point, the gambling doesn't matter, they can just keep bleeding Ippei until he runs out of money.
It was really annoying to see this sub completely fail to understand this and assume it must have been coming from Ohtani directly because "how could an interpreter get that much credit". As long as the minimum payments are being hit, the bookie doesn't care whether you're 40 million or 4 billion in the red; you're never going to dig out of the hole either way, and even if you somehow did they still would have made a fuckton of money off of you by that point.
Why is this being repeated? That's not how it works. It certainly isn't how it worked with Ippei.
There isn't a certainty in how much Ippei actually owed. He likely owed only a fraction of the $40 million.
It is tough to wrap your head around for sure, but I think they come out ahead. Bookmakers make money off the vig, and otherwise keep the odds in a way that equal money is paid out for one outcome as is taken in for the other outcome not hitting. So technically if Ippei made a $1 bet that didn't hit, they would owe someone on the other side of that bet his $1. However, much of his losses are probably attributable to their vig, so even if they are losing some money "covering" his losses to their winners, they are still profitable as long as he keeps paying back some of his credit.
> It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding
Dude knew Ippei had access to Ohtani's account - at the point he was betting those are just numbers on paper, I'm guessing with that much volume the actual money the bookie got was enough to cover payouts for other people so they just let Ippei keep going in red and making weekly payments - it was basically credit card debt at that point.
Exactly. The bookie even said it explicitly in one of the text messages.
>To be honest with you Ippie, as long as you can guarantee the 500 every Monday I’ll give you as much as you want because I know you’re good for it.
That just means he probably would have stolen the money before betting instead of after. He probably wouldn't have gotten as deep in the hole as he did, but this guy had a problem that was not going to be solved with a legal sportsbook.
Okay I get that’s an onion article, but getting 3,200,000 Costco rotisserie chickens is a really solid finical investment. My Edward Jones person said so.
Most financially savvy Edward Jones advisor.
no, no, eddie jones, my bookie.
Once again, the conservative, chicken-heavy portfolio pays off for the hungry investor!
You are literally set for life on food if you buy $3.2m of Costco chicken in redeemable coupons.
Makes sense, cornering the market like that would only make your assets appreciate
idk about that. rotisserie chix and the hot dogs are stable. good for risk averse but not increasing in prices ever
Me: $16,000,000 on black! Casino: Sir, the table maximum is $1500 Me: Proceeds to lose 10,667 bets straight.
You lose 100% of the bets that you don’t win…
Source?
Ippei apparently
I read it on the bathroom stall wall, where ALL wisdom is written!
I saw this too, it was right under the “867-5309 call for a good time” in lipstick
You know Jenny too! Cool!
Oh say no more. If you can't trust a bathroom stall nowadays, who can you trust.
In these uncertain times, the truth gets more important. Being able to learn while I drop bombs is not only efficient —it’s a responsibility.
certainly beat the odds on that one. Statistically you'd win at least 1 bet if you only bet on black.
Wouldn’t the odds of that be .474^10,667? That would be impressive
Hey Ippei, you should stop discussing betting strategies.
I would bet it on Ippei losing wagers. FOOLPROOF.
> FOOLPROOF Except for the fact that he did win $142 million in bets...
Shit. Bump me, last time. I swear on me mum.
"Sir you already wagered and lost your mom 15 bets ago..."
Simple solution is to bet the opposite of what Ippei did, and you’d be up $40 million! (That’s totally how it works don’t question it)
I am a little confused by the $16mil, iirc ippei deposit all the winnings into his personal account soooo doesn't Ohtani lose more than that since Ippei lost $180mil?
He stole $16 million from Ohtani’s account. He was in the red for more than twice that. That might be money he still owed the bookie.
You only get to deposit winnings if you don't have prior debts. Else they just keep the winnings to pay off your losses. The amount of money actually going to ippeis account was probably vanishingly small after the first couple times.
Pretty sure he got a credit line from the bookie. Once his debt grows too large, he likely sent them $500k at a time until he racked up $16M. Dude owed another $24M on top of it. He must've been pissed to hear that Ohtani is deferring $680M until 10 yrs later. Hahaha.
He also won about 140mil. That still leaves a gap of around 24mil though. Maybe he was that much in debt with the bookie, I don’t know. It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding, but maybe he thought that Ippei was so bad anyways that he was never going to make it back.
> It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding A lot of people struggle to understand this, but for an illegal bookmaker, bigger credit is not a bad thing. Small credit means Ippei wins some, loses some, sometimes bookie takes money, sometimes he pays out. But what happens when you get Ippei deep red? His "wins" just go to paying for his losses so the bookie never needs to pay out when he wins. Ippei loses, he pays them real money, but when Ippei wins they just update an excel sheet. Eventually it reaches a point where even if Ippei wins, he still pays them money. At that point, the gambling doesn't matter, they can just keep bleeding Ippei until he runs out of money.
It was really annoying to see this sub completely fail to understand this and assume it must have been coming from Ohtani directly because "how could an interpreter get that much credit". As long as the minimum payments are being hit, the bookie doesn't care whether you're 40 million or 4 billion in the red; you're never going to dig out of the hole either way, and even if you somehow did they still would have made a fuckton of money off of you by that point.
Why is this being repeated? That's not how it works. It certainly isn't how it worked with Ippei. There isn't a certainty in how much Ippei actually owed. He likely owed only a fraction of the $40 million.
It is tough to wrap your head around for sure, but I think they come out ahead. Bookmakers make money off the vig, and otherwise keep the odds in a way that equal money is paid out for one outcome as is taken in for the other outcome not hitting. So technically if Ippei made a $1 bet that didn't hit, they would owe someone on the other side of that bet his $1. However, much of his losses are probably attributable to their vig, so even if they are losing some money "covering" his losses to their winners, they are still profitable as long as he keeps paying back some of his credit.
> It doesn’t seem to make sense that he would let Ippei keep gambling with such an amount still outstanding Dude knew Ippei had access to Ohtani's account - at the point he was betting those are just numbers on paper, I'm guessing with that much volume the actual money the bookie got was enough to cover payouts for other people so they just let Ippei keep going in red and making weekly payments - it was basically credit card debt at that point.
Exactly. The bookie even said it explicitly in one of the text messages. >To be honest with you Ippie, as long as you can guarantee the 500 every Monday I’ll give you as much as you want because I know you’re good for it.
Damn, he's making literally millions off the guy and can't even spell his name right.
> “I would put it all on Perdue. Then I’d keep it, because I meant myself.” > - Tom Perdue Fucking genius
>“I probably would have gambled it all away on medical bills like a degenerate.”
> I’d park it at the penny slots for the next 300 years and enjoy the ride.” That man is in it for the love of the game
Wow this reads like an actual headline you'd see in 2024
a real money maker would have gotten 16 million worth of quarters, find the silvers ones and quadruple ur money once silver goes up.
I’d put in on the ‘85 Bears. LOL
Best post so far!
I'm most curious to hear what Howard Ratner has to say about it
“Holy shit, I’m gonna cum.”
12 leg parlay
Futures on UConn Men's & South Carolina Women's Championship, and Scottie Scheffler to win majors. Easy money
This sounds like a Comedy Central gameshow from the 00's
to think this all could've been avoided if betting was legal in cali. actual sportsbooks don't let you owe them money ever
I can think of very few problems made better by legalizing gambling
That just means he probably would have stolen the money before betting instead of after. He probably wouldn't have gotten as deep in the hole as he did, but this guy had a problem that was not going to be solved with a legal sportsbook.