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

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

hope for investors in the Centaur scandal?

In a breaking story, it has been reported that directors of the failed sports investment fund Centaur have had their assets frozen in order to repay investors. It is believed that managing director Keith Sobey skipped town trying to avoid prosecution however he either naively thought Ireland was a safe enough place to hide or had a lingering feeling of guilt and sat waiting for that knock on the door. Sobey, the name behind Centaur ( read the original story here ), is believed to own four houses, worth more in total than the missing £1.6m. His willingness to sell them to repay investors is likely to keep the matter out of the courts, and at least one other director, Andrew Cork, will apparently follow suit. All this adds weight to anecdotal evidence that the collapse of the fund came down to mismanagement rather than fraudulent deeds. As costs grew (why would you set up a training academy in central London?), margins evaporated and keeping the business afloat went through money like