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This article relates to the recent
sacking of the South African
Cricket Captain, Hansie Cronje with
his involvement with bookies in
India!
By JOHN SCHELL, Sydney Morning Herald
Thinking about the Hansie Cronje
betting scandal, you might imagine
Mumbai's dark back alleys where
cricket-mad Indians work themselves
into a frenzy over the latest odds.
Yet that's only part of the picture.
The punters who have unknowingly put
temptation in Cronje's path are just
as likely to be merchant bankers in London,
lawyers in Hong Kong or traders in Sydney.
Just about anyone, in fact, who has
access to the Internet and finds it
relaxing making a few bets on-line
instead of listening to the commentary on
their TVs.
Sports betting exists in most countries
in the world. In turn, most registered
bookmakers have a website on the Internet,
which allows punters to keep track of
what is going on.
Because cricket is a sport based on
statistics, it lends itself to live
betting. While the match is in progress,
bookmakers constantly adjust their odds
on a whole range of betting options:
next batsman out; whether the next wicket
will be caught or bowled, and by
whom; whether one batsman will score
more than another; winning totals. And,
of course, which team will win.
With the arrival of the Internet, placing
these bets has never been easier.
For the bigger players, spread betting
is the main form of investing. In Australia,
City Index is the only licensed spread-betting
bookmaker.
Index, or spread betting is "very complicated
and highly volatile", according to another
bookmaker's spokesman.
"For example, Mark Waugh to score between
90-110 runs. If you take under 90, you are
hoping he gets out under 90. Getting out
without scoring is your best result. If your
stake is $100, you receive $100 for every run
under 90. You would get $9,000.
"But on the other hand, if he scores 200,
you lose $100 for every run over 110. You
lose $9,000."
The spokesman was not worried that the
Cronje scandal would do any harm to sports
betting, but stressed that most bookmakers
had their guards up.
"At the end of the day, it's up to the
respective codes to make the rules and regulations known to its
participants and to enforce them," he said.
[This message has been edited by Fedya Fussball (edited 04-13-2000).]
sacking of the South African
Cricket Captain, Hansie Cronje with
his involvement with bookies in
India!
Sports betting spreading with the Internet
By JOHN SCHELL, Sydney Morning Herald
Thinking about the Hansie Cronje
betting scandal, you might imagine
Mumbai's dark back alleys where
cricket-mad Indians work themselves
into a frenzy over the latest odds.
Yet that's only part of the picture.
The punters who have unknowingly put
temptation in Cronje's path are just
as likely to be merchant bankers in London,
lawyers in Hong Kong or traders in Sydney.
Just about anyone, in fact, who has
access to the Internet and finds it
relaxing making a few bets on-line
instead of listening to the commentary on
their TVs.
Sports betting exists in most countries
in the world. In turn, most registered
bookmakers have a website on the Internet,
which allows punters to keep track of
what is going on.
Because cricket is a sport based on
statistics, it lends itself to live
betting. While the match is in progress,
bookmakers constantly adjust their odds
on a whole range of betting options:
next batsman out; whether the next wicket
will be caught or bowled, and by
whom; whether one batsman will score
more than another; winning totals. And,
of course, which team will win.
With the arrival of the Internet, placing
these bets has never been easier.
For the bigger players, spread betting
is the main form of investing. In Australia,
City Index is the only licensed spread-betting
bookmaker.
Index, or spread betting is "very complicated
and highly volatile", according to another
bookmaker's spokesman.
"For example, Mark Waugh to score between
90-110 runs. If you take under 90, you are
hoping he gets out under 90. Getting out
without scoring is your best result. If your
stake is $100, you receive $100 for every run
under 90. You would get $9,000.
"But on the other hand, if he scores 200,
you lose $100 for every run over 110. You
lose $9,000."
The spokesman was not worried that the
Cronje scandal would do any harm to sports
betting, but stressed that most bookmakers
had their guards up.
"At the end of the day, it's up to the
respective codes to make the rules and regulations known to its
participants and to enforce them," he said.
[This message has been edited by Fedya Fussball (edited 04-13-2000).]