Belmont could be bonanza for mobster bookmakers in New York

Jun 6, 2011 7:00 PM

This year’s Belmont Stakes is expected to provide a business bonanza for the mobster bookmakers in New York City. At least that is the opinion of officials who note that this year Triple Crown racing event is being conducted after the closing of the city’s Off Track Betting shops.

Last year, they point out, the OTB facilities handled $2.4 million in Belmont Stakes wagering. A good portion of those bets will end up in the hands of illegal bookies, noted one wiseguy.

"Where there is money to be made, the mob is most certainly there. They were taking bets when OTB was operating. And, I’d bet – no pun intended – that they have been taking bets on this race for weeks now," one former member of the Bonanno crime family told the N.Y. Daily News.