A man walks into an old pool room / shoeshine / bookmaking joint. He lays a dime ($1000) on the counter and ays he wants to bet on the local basketball team +16 tonight.
The clerk behind the counter says that he’ll have to wait until the owner / BM comes back from lunch to see if he wants it. The clerk holding the money suddenly takes a c-note ($100) off the bottom and runs next door to the bar and pays off his tab. The bartender then takes the $100 and pays of his shylock who is having a drink at the bar. The shylock takes the $100 and runs out to the hotel down the street and gives it to the bellman whom he missed when leaving the night before. The bellman takes the c-note and pays his dry-cleaning bill for the week. The dry cleaner runs to the aforementioned pool room and gives the $100 to the clerk behind the counter, whom he owed for a pool game he lost. The clerk puts the c-note back in the money he’s been holding and no one is the wiser.
Now the owner / bookmaker finally comes back from what looked like a big lunch. He tells the fella who wanted the bet that he doesn’t want to take the lay-down. The bettor scoops up the dime and leaves. No one actually earned anything. Nothing went into anyone’s pocket. Nothing was produced or added to anything in this flurry of action. However, the neighborhood scufflers are now square with each other and all bills are paid – kinda how our politicians and bureaucrats run our government “for us.”
There’s a correlation to betting / bookmaking in this scenario. Bettors and bookmakers pass the same c-note back and forth. The only hitch is the bookie, in a month, holds it for 20 days while the bettor only has it for 10. Which explains the cycle of the BM going to Miami for his vacation and the bettors spending theirs working for a fresh bankroll.
Happy New Year! Stay safe!