CHICAGO POOL Meaning and
Definition
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Chicago pool is a term used to refer to a particular style of gambling prevalent in the city of Chicago, Illinois. It commonly refers to an illegal gambling operation in which participants place bets on various sports events, primarily on horse racing. The Chicago pool typically involves a collection of bets made by multiple individuals, which are then pooled together to form a larger sum of money. This pooled money is then used to make substantial bets on a particular horse or horses, with the aim of obtaining significant winnings.
The Chicago pool is often associated with secrecy, as it primarily operates outside legal boundaries. It typically involves underground bookmakers who organize and facilitate the betting activities, taking a certain percentage or commission from the pooled money as a fee for their services. The participants in the Chicago pool usually consist of a close network of individuals who share information and collaborate to maximize their chances of making successful bets.
This term can also extend to refer to a physical location or establishment in Chicago where such gambling activities take place. These establishments are often clandestine and hidden from the public eye to avoid detection by law enforcement. Notorious for its prevalence during the early 20th century, the Chicago pool has become a part of the city's gambling history and culture. However, it is important to note that participation in such illegal gambling operations is against the law and can result in severe legal consequences.
Common Misspellings for CHICAGO POOL
- xhicago pool
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- chucago pool
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- chixago pool
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- chifago pool
- chidago pool
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