Skip to main content

Another item for the FIFA are bleeding idiots file

Item in today's RP suggests FIFA are considering banning in-play betting on football over corruption fears. 'What a great idea' will say the do-gooders and Daily Mail readers who don't have a clue about the outside world. Any knowledge of betting in football will let you swiftly decide this is the stupidest idea since awarding the World Cup to a country which bans alcohol and homosexuality, doesn't even have to hotel capacity to cater for one full stadium of visitors and will be 45-50C during July.

Mark Davies has written an excellent post on it here - UEFA and FIFA: focus, please!

If bookmakers offer 'micro-betting', markets on tiny events during the match such as next free kick or next throw-in, who is taking the risk? The bookie. What is a bookie's job to do? Manage risk. What happens when people fall out of trees to back one option in a multi-selection, reasonably random market? They shut it off and investigate, maybe even alerting sporting authorities.

These are not markets where big bets are accepted unless you have the word MUG stamped across your forehead (i.e. You are a high-rolling loser with that bookmaker). Bookies know the famous Matt Le Tissier throw-in story from the 90s. These types of markets have the potential to be manipulated so the %s bet are wide and the risk taken is low. It's a product for the 'very' recreational punter who'd rather bet on an event within a sporting contest than on an electronic random number generation contest in the casino. Few bookies offer this stuff anyway, the ones which do are incredibly quick on the 'restrict bets' control if a punter starts winning.

As hinted at by the Sportingbet spokesman in the RP article - the majority of in-play football betting still goes through the unregulated markets in Asia. No amount of interference with European bookies will make an iota of difference to them; if anything it will only increase their turnover.

Yet more proof that FIFA is a body of self-serving idiots out of touch with the rest of the world.... unless someone from that world turns up with suitcases full of cash.

Comments

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

Spot-fixing - you will never, ever be able to stop it

According to this report , IPL tournaments so far have been rife with spot-fixing - that is fixing minor elements of the game - runs in a single over, number of wides bowled etc. The curious part of that article is that the Income Tax department are supposed to have found these crimes. What idiot would be stupid enough to put down 'big wad of cash handed to me by bookie' as a source of income? Backhanders for sportsmen, particularly in a celebrity- and cricket-obsessed culture like India are not rare. They could come from anything like turning up to open someone's new business (not a sponsor, but a 'friend of a friend' arrangement), to being a guest at some devoted fan's dinner party etc. The opportunities are always there, and there will always be people trying to become friends with players and their entourage - that is human nature. This form of match-fixing (and it's not really fixing a match, just a minor element of it) is very hard to prove, but also,

Betdaq.... sold...... FOR HOW MUCH???

So as rumoured for a while, Ladbrokes have finally acquired the lemon, sorry, purple-coloured betting exchange, Betdaq. For a mind-boggling €30m as 'initial consideration'. That's an even more ridiculous price than Fernando Torres for £50m, or any English player Liverpool have purchased in recent seasons! As I've written previously there are no logical business reasons for this acquisition. from Nov 29, 2012 The Racing Post reported this week that Ladbrokes are nearing a decision to acquire Betdaq. This baffles me, it really does. Betdaq are a complete and utter lemon. Their only rival in the market has kicked so many own goals over the years with the premium charge, followed by an increase in the premium charge, cost of API and data use, customer service standards which have fallen faster than Facebook share value, site crashes and various other faults. So many pissed off Betfair customers, yet Betdaq are still tailed off with a lap to go. Around the world, Betfair