DFS and sports bettors rely mostly on a specific style of placing bets, and it is data-first high-volume gambling. Kent’s strategy of which he was the pioneer was one that bookmakers were unprepared for. During his first year as a gambler, he suffered the occasional loss, but he diligently updated his strategy model, and it was paying off as he started enjoying big profits on both college basketball and college football wagers.
Duffle Bags Filled with Cash
Kent was worried by one thing; a raging paranoia felt when he had to carry the tons of cash around in duffle bags. Cash-in-hand in 1980 was the norm or the only currency known to gamble at the time. The solution came via a mutual friend that introduced Kent to the heavy gambling orthopaedic surgeon, Ivan Mindlin. A 50/50 split was proposed to Mindlin by Kent of the profits; this was in exchange for Mindlin’s services including the collecting and posting of bets. Kent, however, remained the leading the only one with access to the informed bets program, and that is when the computer group was started.
Mindlin was more than happy to utilise his gambling contacts to expand the operation, while Kent remained focus on the program, the service extended beyond Kent’s wildest imagination. Kent claims that during the college football season in 1983, wagers worth $23 million provided a net profit of no less than $3 million. Mindlin, secretively opened offices in Las Vegas and New York, Kent was not always informed and mostly kept in the dark regarding the true scale of the computer group. By now the offices employed dozens who used the data of Kent to make a few bets of their own.
Rumours of Thousands of Dollars Reach FBI
Profit rumours of tens of millions in winnings spread, and eventually, it reached the ears of the FBI. The FBI agents were convinced that the group was unlawful and that the bookmaking operation was in cahoots with the Italian mafia to manipulate betting lines. The computer group’s style of high-volume betting relied on managing betting lines and the suspicions of the FBI incorrect. They went ahead with the raids on Super Bowl Sunday and uncovered illegality in that the computer group never paid taxes.
Operational Secrets Revealed
The raids also revealed to Kent that was in the dark about the actual operation, in his mind, it was only him, Mindlin and a few who assisted his partner in placing bets. He was kept away mostly from the day-to-day operations and had no idea that the computer group was huge and that he missed out on profits. Kent had one desire, and that was to focus on his gambling program, this allowed Mindlin the opportunity to con Sports Illustrated. In 1986 a simple article was published regarding the computer group, and Mindlin claimed the program was his design, Kent was not even mentioned in it.
The relationship between Kent and Mindlin was beyond repair as his partner exploited Kent’s genius program. Kent made sure he had proper legal representation and started a civil lawsuit against his partner and at the same time cooperated with the investigating of the FBI. In exchange, he got himself immunity.
The FBI realised soon enough that they never busted the biggest Mafia-managed illegal bookmaking operation. But with Kent’s information, they soon unravelled that gamblers utilised off-shore bank accounts to hide their winnings from the tax. In 1987 the computer group folded.
A three-person gambling group including his tax-paying friend and brother was started by Kent, who left the gambling word by the mid-90s. Mindlin remained in Vegas, and at a sports betting conference claimed he still uses the program by Kent and makes a good living as a full-time sports gambler.