Originally posted on 09/11/2012:
Absolute.
People throw words around like 'Karma' in these situations (reporting the wrong grade), and it simply doesn't apply.
Your bookie is not like other people/companies you do business with. They hope for your ruin.
You are in a cordial adversarial relationship with any entity you gamble with, unless they share in your victories, like poker rake, or para mutual racing, etc.
When I worked for Ceasars, the few hosts that were good guys were on a theoretical hold commission.
The scumbag hosts were all on a piece of the players losses.
Hyman Roth knew that lasting relationships in this business came from always making money for your partners, and the book ain't your partner.