I used this text-style on my schoolproject Malavita. This is the perfect bloddy style that can be well suited for text with a mafia-theme...
Mafia-text
This technique I used for the logo of my schoolproject Malavita
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Step 1 Open up a new document and add your desired text in white;

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Step 2 Add these blending-options to the text;



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Step 5 It will look like this;

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Step 6 Then grab some decent blood-brushes. I used mine from the amazingly bizar site Angryblue;

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Step 7 Change the blending-mode to overlay if needed. Some text-colors will totally freak out. You might wanna try multiply as well.. Otherwise, use nothing;

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Step 8 And press CTRL+G to group the layer with the text.
If that gets you issues in Photoshop CS or CS2, try CTRL+SHIFT+G;

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Step 9 And then you are done. Feel free to add a shadow, a reflection or more blood...
