The New York Post: Supreme Court’s sports-betting decision deals blow to organized crime’s ‘bread and butter’

0
45
views
Reuters

Inside a casino sportsbook betting site.

The U.S. Supreme Court’s sports-betting ruling dealt a losing hand to organized crime in the New York area, legal experts said Monday.

Gambling and loan sharking have traditionally been the mob’s “bread and butter,” and the decision will “significantly reduce” its clientele, former federal prosecutor Thomas Seigel said.

‘I wouldn’t fully count them out, because they are resilient, but it is definitely going to be a blow.’

Thomas Seigel, U.S. Attorney’s Office, Brooklyn

“They will definitely lose a regular source of predictable income,” said Seigel, who ran the Organized Crime and Gangs Section of the Brooklyn U.S. Attorney’s Office.

Defense lawyer John Meringolo, who’s represented John “Junior” Gotti and reputed Philadelphia mob boss Joseph “Skinny Joey” Merlino, said legal sports betting “will have a detrimental effect on the mob and anyone who tries to make a living through this type of vice.”

“For what’s left of what they do, this would significantly hurt their bottom line, if not completely destroy it,” said Meringolo, also a Pace Law School professor.

“If there’s no gambling, there’s no core business.”

Seigel — who prosecuted crooked NBA referee Tim Donaghy on gambling charges — said he expected mobsters would come up with new scams, potentially involving cryptocurrencies in an “analog to the penny stocks of the ’90s.”

“I wouldn’t fully count them out, because they are resilient, but it is definitely going to be a blow,” he said.

This report previously appeared at NYPost.com.