The title borrows from the old Spanish adage: "Más sabe el diablo por viejo que por diablo" (The devil knows more because he is old than because he is the devil). The original saying means that experience trumps raw power.
In many Latin American countries (and the diaspora), there is a cultural reverence for the Viejo Sabio (the Wise Old Man). But in urban sectors, that old man often isn't a scholar; he’s the guy who played the game for thirty years and lived to tell about it. Mas Sabe el Diablo
The chorus is blunt: "Y más sabe el diablo por viejo, que por diablo / Por eso respeto al que le ha dao' la calle" Translation: The devil knows more because he’s old, not because he’s the devil. That’s why I respect those who have been "given" by the streets. The title borrows from the old Spanish adage: