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Wikipedia

Sports betting

Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels. Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as horse racing, greyhound racing, and cockfighting. It is not uncommon for sports betting websites to offer wagers for entertainment events such as the Grammy Awards, the Oscars, and the Emmy Awards.

Odds boards in a Las Vegas sportsbook

Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises referred to as "bookies". The term "book" is a reference to the books used by wage brokers to track wagers, payouts, and debts. Many legal sportsbooks are found online, operated over the Internet from jurisdictions separate from the clients they serve, usually to get around various gambling laws (such as the Unlawful Internet Gambling Enforcement Act of 2006 in the United States) in select markets, such as Las Vegas, Nevada, or on gambling cruises through self-serve kiosks. They take bets "up-front", meaning the bettor must pay the sportsbook before placing the bet. Illegal bookies, due to the nature of their business, can operate anywhere but only require money from losing bettors and don't require the wagered money up front, creating the possibility of debt to the bookie from the bettor. This creates a number of other criminal elements, thus furthering their illegality.

There have been a number of sports betting scandals, affecting the integrity of sports events through various acts including point shaving (players affecting the score by missing shots), spot-fixing (a player action is fixed), bad calls from officials at key moments, and overall match fixing (the overall result of the event is fixed). Examples include the 1919 World Series, the alleged (and later admitted) illegal gambling of former baseball player Pete Rose, and former NBA referee Tim Donaghy.

Types of bets

United States

 
Betting on the Favorite, an 1870 engraving published in Harper's Weekly
  • Moneyline bets do not have a spread or handicap, and require the chosen team to win the game outright. The favored team pays lower odds than does the underdog; thus, it acts mainly as an enticement to take the underdog for a better payout. Sometimes a bettor may couple this type of bet on the favored team to increase the payout of a parlay.
  • Spread betting are wagers that are made against the spread. The spread, or line, is a number assigned by the bookmakers which handicaps one team and favors another when two teams play each other and one is perceived as being more likely to win. The favorite "gives" points from the final score, and the underdog "takes" points. This number can also be in increments of half-a-point (.5) even though very few sports have .5 point scoring (i.e., The Ryder Cup), to avoid the possibility of a tie.

For example, before game 5 of the 2012 NBA Finals, the Miami Heat were expected to beat the Oklahoma City Thunder. The line read: Miami −3.5, Oklahoma City +3.5.[1] To determine who wins against the spread, the line is either added or subtracted from a team's final score. In the above example, if the bettor chose Miami, for him to win his bet, Miami would have to win the game by 4 points or more.

If a bettor took Oklahoma City, they would have to win outright or lose by 3 points or fewer.

If the final adjusted score is a tie, the bet is considered a push. The half point at the end is sometimes added to eliminate the possibility of a push. This is the most common type of bet in American sports betting.

  • Total (Over/Under) bets are wagers made based on the total score between both teams. In an example, if an MLB game has a total of 10.5, an over bettor will want the combined total to be greater, and the opposite for a bettor taking the under. If the combined total is the same as the proposed total, the bet is a push. Most sports books refund all wagers on pushes, though a minority counts them as losses.
  • Proposition bets are wagers made on a very specific outcome of a match not related to the final score, usually of a statistical nature. Examples include predicting the number of goals a star player scores in an association football match, betting whether a player will run for a certain number of yards in an American football game, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team.
  • Parlays. A parlay involves multiple bets that rewards successful bettors with a greater payout only if all bets in the parlay win. A parlay is at least two bets, but can be as many as the bookmaker will allow.

The possible payout of the parlay is determined by the combined likelihood of all bets placed. A parlay of riskier bets (more underdogs) will pay greater than a parlay of more likely bets (more favorites). In a parlay, all bets need to win in order for the parlay to win. If one of the bets on a parlay loses, the whole parlay loses. In the event of a push, the pushed bet would be taken out of the parlay and the parlay would bump down to a set of odds without that bet.

Parlays are very appealing to bettors because they pay out much more than the total winnings of their constituent straight bets. However, it is much more difficult to hit on a parlay than it is on a single wager.

  • Teasers. A teaser is a parlay that gives the bettor an advantage at a lower, but still positive, payout if successful.

The bettor selects the sport(s), number of games, and number of points given.

If the bettor takes two NBA games at +6.5 it will adjust the individual bets at that rate. So a bet on a 3-point underdog at +3 will become a bet at +9.5 points, and for favorites, it will change a 3-point favorite at −3 to +3.5 points.

Although the rules to win his bet are the same as a parlay, he is paid less than a regular parlay due to the increased odds of winning.

  • If bets. An if bet consists of at least two straight bets joined together by an if clause, which determines the wager process. If the player's first selection complies with the condition (clause), then the second selection will have action; if the second selection complies with the condition, then the third selection will have action and so on.
  • Run line, puck line, or goal line bets. These are wagers offered as alternatives to money line wagers in baseball, hockey, or soccer, respectively. These bets are effectively point spread bets that have the same money line odds on either side of the wager (i.e. industry standard of -110 to -115). Sportsbooks will occasionally shift the moneyline by a few points on either side of these spread bets.
  • Futures wagers. While all sports wagers are by definition on future events, bets listed as "futures" generally have a long-term horizon measured in weeks or months; for example, a bet that a certain NFL team will win the Super Bowl for the upcoming season. Such a bet can be made before the season starts in September for the best possible payout, but futures are typically available year-round, with payouts being reduced as the season progresses and it becomes easier to predict a champion. In this example, winning bets will not pay off until the conclusion of the Super Bowl in January or February (although many of the losing bets will be clear well before then and can be closed out by the book). Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. The team wagered upon might be 50–1 (or +5000) to win the Super Bowl, which means that the bet will pay 50 times the amount wagered if the team does so. In general, most sportsbooks will prefer this type of wager due to the low win-probability, and also the longer period of time in which the house holds the player's money while the bet is pending. For this same reason, most professional bettors do not prefer to place futures bets.

A sportsbook may choose to buy in-play futures wagers at a price below the actual payout before a championship is decided if the potential payout is very high (and thus, damaging to the sportsbook due to the money that may be lost). The most recent example of this was when Leicester City pursued and went on to win the 2015/16 Premier League.[2]

  • Head-to-Head. In these bets, bettor predicts competitors results against each other and not on the overall result of the event. One example are Formula One races, where you bet on two or three drivers and their placement among the others. Sometimes you can also bet a “tie”, in which one or both drivers either have the same time, drop out, or get disqualified.
  • Totalizators. In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Naturally the more money bet on a certain result, the smaller the odds on that outcome become. This is similar to parimutuel wagering in horse racing and dog racing.
  • Half bets. A half (halftime) bet applies only to the score of the first or second half. This bet can be placed on the spread (line) or over/under. This can also be applied to a specific quarter in American football or basketball, a fewer number of innings in baseball, or a specific period in hockey.
  • In-play betting. In-play betting, or live betting, is a fairly new feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress. In-play betting first appeared towards the end of the 1990s when some bookmakers would take bets over the telephone whilst a sports event was in progress, and has now evolved into a popular online service in many countries.[3] The introduction of in-play betting has allowed bookmakers to increase the number of markets available to bet on during sports events, and gamblers are able to place bets based on many types of in-game activity during the matches. For example, in football matches, it is possible to bet in on in-play markets including the match result, half-time score, number of goals scored in the first or second half of the game, the number of yellow cards during the match, and the name of the goal scorers.[3] The availability of a particular sport and in-play markets varies from bookmaker to bookmaker. In-play sports betting has structural characteristics that have changed the mechanics of gambling for sports bettors, as they can now place a larger number of bets during a single sports game (as opposed to a single bet on who is going to win). One of the most important differences between being able to place an in-running sports bet opposed to a pre-match bet is that the nature of the market has been turned what was previously a discontinuous form of gambling into a continuous one. The gambling study literature has suggested that in-play sports betting may offer more of a risk to problem gamblers because it allows the option for high-speed continuous betting and requires rapid and impulsive decisions in the absence of time for reflection.[3] There are three different types of in-play sports betting products(cash out, Edit my Acca, and Edit my Bet).
  • Cash Out. Cash Out betting functionality lets the user of a betting website take profit early if their bet is coming in, or get some of their stake back if their bet is going against them—all before the event is over. Cash Out offers are optionally made by the website in real time on some current bets held by the user and are optionally taken by the user by clicking on a button on the webpage to "Cash out". Cash Out sports betting functionality developed on digital betting websites after 2008 with the evolution of betting exchanges. It was later adopted by online sports books and suppliers of betting software. 'Cash out' is offered to users by online sportsbook operators based on the profitability of offering the option to the user to divest their existing bet on an outcome and is sometimes available on singles and multiples. It is regularly offered on a wide range of sports, including American football, tennis, horse racing, basketball, and most other markets. You can Cash Out of bets pre-play, in-play, and between legs, before the outcome of the event. It has proved a key customer retention tool for sports book operators looking to capitalize on the use of mobile handsets while the bettor/user is also watching a given event.[3]
  • Edit My Acca. This feature allows gamblers to remove selections from their accumulator after the bet has been placed and in some instances after the selected event has started. The betting slip is then revised to feature the amended selections and a new potential return amount. This can be done online or via a mobile device.[3]
  • Edit My Bet. The ‘edit bet’ feature can be used by gamblers to ‘unsettle straight accumulators’ before matches have started or whilst they are in-play. The feature can also be used for to swap single bets for new bets, and the gambler is given a new bet selection valued at the bookie's cash out price to reflect live market/game odds for the original bet.[3]

Bookmaking

The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking.[4] However, this Act does not apply to other types of online gambling.[5] The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to online gambling.

Bookmakers usually hold an 11–10 advantage over their customers—for small wagers it is closer to a 6–5 advantage—so the bookmaker will most likely survive over the long term. Successful bookmakers must be able to withstand a large short term loss. (Boyd, 1981)

Many of the leading gambling bookmakers from the 1930s to the 1960s got their start during the prohibition era of the 1920s. They were often descendants of the influx of immigrants coming into the USA at this time. Although the common stereotype is that these bookies were of Italian descent, many leading bookies were of eastern European ancestry.[6]

Odds

Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (money line odds). European format (decimal odds) are used in continental Europe, Canada, and Australia. They are the ratio of the full payout to the stake, in a decimal format. Decimal odds of 2.00 are an even bet. UK format (fractional odds) are used by British bookmakers. They are the ratio of the amount won to the stake – the solidus "/" is pronounced "to" for example 7/1 "seven to one". Fractional odds of 1/1 are an even bet. US format odds are the amount won on a 100 stake when positive, and the stake needed to win 100 when negative. US odds of 100 are an even bet.

Decimal Fractional US Hong Kong Indo Malay Implied probability
1.50 1/2 −200 0.50 −2.00 0.50 1 in 1.5 = 67%
2.00 Evens (1/1) +100 1.00 1.00 1.00 1 in 2 = 50%
2.50 6/4 +150 1.50 1.50 −0.67 1 in 2.5 = 40%
3.00 2/1 +200 2.00 2.00 −0.50 1 in 3 = 33%
Conversion formulas
x To Do this
Decimal Fractional x-1, then convert to fraction
Decimal US 100*(x-1) if x>2; -100/(x-1) if x<2
Fractional Decimal divide fraction, then x+1
Fractional US divide fraction, then 100*x if x>=1; -100/x if x<1
US Decimal (x/100)+1 if x>0; (−100/x)+1 if x<0
US Fractional x/100, if x>0; -100/x, if x<0
Decimal Hong Kong x-1
Hong Kong Indo x if x>=1; (1/x)*-1 if x<1
Hong Kong Malay x if x<=1; (1/x)*-1 if x>1

In Asian betting markets, other frequently used formats for expressing odds include Hong Kong, Malaysian, and Indonesian-style odds formats. Odds are also quite often expressed in terms of implied probability, which corresponds to the probability with which the event in question would need to occur for the bet to be a break-even proposition (on the average).

Many online tools also exist for automated conversion between these odds formats.

In setting odds, the bookmaker is subject to a number of limitations:[7]

  • The probability implied by the odds should be greater than the true probability for each possible outcome to guarantee positive expected profit.
  • If the wagers on each outcome are made in ratio to the implied odds, then the bookmaker is guaranteed a profit (balanced book).

Legality

 
Sportsbook at Wynn Las Vegas, during Super Bowl XLII, February 2008

In many countries, bookmaking (the profession of accepting sports wagers) is regulated but not criminalized.

The opinions of betting from sport authorities are mixed. The United States National Football League was previously fully against any sort of legalization of sports betting prior to the late 2010s, strongly protesting it as to not bring corruption into the game.[citation needed] On the other hand, the CEO of the International Cricket Council believe sports betting, in particular in India, should be legalized to curb illegal bookies where match fixing has occurred from nontransparent bookmakers.[citation needed] However according to the Law Commission of India, all forms of gambling are illegal. Online sports betting is a gray area and is not banned by any particular law in the Indian legal system. That is because specific provisions distinguish between games of chance and games of skill.

United States

 
Map of sports betting legality as of October 15, 2021[8]
  Sports betting legal
  Sports betting illegal

In the United States, it was previously illegal under the Professional and Amateur Sports Protection Act of 1992 (PASPA) for states to authorize legal sports betting, hence making it effectively illegal. The states of Delaware, Montana, Nevada, and Oregon—which had pre-existing sports lotteries and sports betting frameworks, were grandfathered in and exempted from the effects of the Act.[9][10] PASPA was struck down by the Supreme Court in Murphy v. National Collegiate Athletic Association in 2018, paving the way for other states to legalize sports betting.

In May 2020, it was reported that since the Supreme Court's PASPA decision, over $20 billion had been spent on sports betting in the United States.[11] As of May 2022, 30 states and Washington, D.C. have operational legalized sports betting, while an additional four states have legalized it, but have not yet launched legal sportsbooks.[8]

Positions of American Professional Sports Leagues

The positions of the four major American sports leagues (representing American football, baseball, basketball, and ice hockey) have become more complex since their decision to embrace daily fantasy sports (DFS) in 2014, which are described by those within the industry as "almost identical to a casino" in nature. With the contention by critics that such activities blur the lines between gambling and fantasy sports, the endorsement of all four major sports leagues and many individual franchises provided a marked contrast to their positions on betting.[12] Professional sports leagues updated their positions again on May 14, 2018, when the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA).

NBA

While the National Basketball Association (NBA) was once active in preventing sports betting law relaxation, current NBA Commissioner Adam Silver became the first major sports leader to break from previous administrative opposition to gambling. In 2014 he stated in a New York Times op-ed, "I believe that sports betting should be brought out of the underground and into the sunlight where it can be appropriately monitored and regulated."[13] In 2017, with support for legalization growing, he confirmed his belief that "legalized sports betting is inevitable".[14]

Silver released the following statement following the Supreme Court's overturning of PASPA: "Today’s decision by the Supreme Court opens the door for states to pass laws legalizing sports betting. We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures. Regardless of the particulars of any future sports betting law, the integrity of our game remains our highest priority."[15]

MLB

Major League Baseball (MLB) Commissioner Rob Manfred has also advocated the league changing its stance on sports betting, with both Manfred and Silver noting that the scale of illegal sports betting makes opposition to betting meaningless. He also stated a willingness to "try to shape" any future legislation at federal level. This was noted as a marked contrast to former Commissioner of the MLB Bud Selig, with Manfred going beyond tacit approval and stating, "There is this buzz out there in terms of people feeling that there may be an opportunity here for additional legalized sports betting."[16]

MLB released the following statement when the Supreme Court overturned PASPA: "Today's decision by the United States Supreme Court will have profound effects on Major League Baseball. As each state considers whether to allow sports betting, we will continue to seek the proper protections for our sport, in partnership with other professional sports. Our most important priority is protecting the integrity of our games. We will continue to support legislation that creates air-tight coordination and partnerships between the state, the casino operators and the governing bodies in sports toward that goal."[17]

In April 2022, league-owned television channel MLB Network launched Pregame Spread, a weekday afternoon show hosted by Matt Vasgersian dedicated to analysis of betting lines and other aspects of sports gambling.[18]

NFL

The National Football League (NFL) remains the only sports league to maintain public opposition to sports betting, however critics have noted that with the move of the Oakland Raiders to Las Vegas in 2019, the NFL has positioned itself for legalization, while simultaneously contradicting its long-held position that sports betting in NFL markets would lead to potential match-fixing.[19] Commissioner Roger Goodell agreed with Manfred in a July 2017 seminar that betting on in-game events, as opposed to the outcome of games, was a more palatable form of sports betting.[20]

Like the NBA and MLB, the NFL issued a statement on May 14, 2018. It emphasized the league's commitment to protecting the integrity of the game: "The NFL's long-standing and unwavering commitment to protecting the integrity of our game remains absolute." Moreover, the NFL called on Congress to craft a Federal framework for regulated sports betting. "Congress has long recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events. Given that history, we intend to call on Congress again, this time to enact a core regulatory framework for legalized sports betting."[21]

NHL

The National Hockey League (NHL) has not stated a public position for or against sports betting, with Commissioner Gary Bettman noting that they are smaller than the NBA and NFL and less vulnerable to negative issues as a result. The NHL was the first major professional league to place a team in Nevada, when the expansion Vegas Golden Knights took the ice in 2017: since then the league has signed sponsorship agreements with William Hill and MGM Resorts International that include betting partnerships and access to in-play data. Other clubs in states with legal sports gambling, such as the New Jersey Devils and Philadelphia Flyers, also have similar sponsorships with bookmakers.

Following other US professional sports leagues, the NHL acknowledged the Supreme Court's PASPA decision with an internal review of its policies. "The Supreme Court’s decision today paves the way to an entirely different landscape – one in which we have not previously operated. We will review our current practices and policies and decide whether adjustments are needed, and if so, what those adjustments will look like. It’s important to emphasize that the Supreme Court’s decision has no immediate impact on existing League rules relating to sports wagering, and particularly, wagering involving NHL games."[22]

Other American Professional Leagues

Major League Soccer (MLS) the top soccer league in the United States and Canada has expressed sports betting as a possible way to gain popularity. Commissioner Don Garber has stated about sports gambling, " We have a project going on now to really dig in deeply and understand it. I’ll join the chorus of saying it’s time to bring it out of the dark ages. We’re doing what we can to figure out how to manage that effectively."[23]

The Alliance of American Football and XFL have both publicly endorsed gambling on their games, with the AAF securing a partnership with MGM Resorts International[24] and the XFL partnering with DraftKings.[25]

Advocacy and Lobbying

The American Gaming Association stated in June 2017, that a coalition will advocate for the repeal of the United States' sports betting ban.[26]

In February 2018, a lobbying document surfaced advocating a new position held by the NBA and MLB – that sports leagues should be financially compensated for betting activity.[27]

Position of American NCAA

Perhaps the most extreme ban on sports betting is imposed by the NCAA, the main governing body for U.S. college sports. The NCAA reified their position in the wake of various betting scandals, including the 1992 University of Nevada, Las Vegas and 1994 Arizona State University Point shaving scandals.[28][29] As states began legalizing sports betting in the late 2010s, the NCAA signaled a shift in tone. In 2017, NCAA President Mark Emmert talked about Las Vegas possibly hosting the NCAA Division I men's basketball tournament in the future.[30]

NCAA President Mark Emmert acknowledged the Supreme Court's overturn of PASPA on May 14, 2018,[31][32] restating the NCAA's strong commitment to competition and its student-athletes. "Our highest priorities in any conversation about sports wagering are maintaining the integrity of competition and student-athlete well-being." Emmert also emphasized the importance of proper federal regulation. "While we recognize the critical role of state governments, strong federal standards are necessary to safeguard the integrity of college sports and the athletes who play these games at all levels."[33]

As of the 2021–22 school year, the official manuals for all three NCAA divisions still expressly ban a member institution's athletic department staff, non-athletic staff with responsibilities related to athletic activities, athletic conference staff, and student athletes from knowingly participating in sports wagering activities.[34][35][36]

This ban covers all competitions, whether intercollegiate, amateur, or professional, as well as team practices, in any sport in which the NCAA conducts a championship, plus Division I FBS football (whose championships have never been operated by the NCAA) and all sports within the scope of the NCAA Emerging Sports for Women program.[37] The only exception is traditional wagers between institutions, most commonly associated with rivalries or bowl games; according to the NCAA, "items wagered must be representative of the involved institutions or the states in which they are located."[38]

The NCAA maintains that "Sports wagering has the potential to undermine the integrity of sports contests and jeopardizes the well-being of student-athletes and the intercollegiate athletics community. It also demeans the competition and competitors alike by spreading a message that is contrary to the purpose and meaning of 'sport.'"[39]

Positions of other sports leagues and governing bodies

English football

 
Premier League kit of West Ham United sponsorship by Betway

The Football Association, the governing body for association football in England, has imposed football betting bans on all individuals involved in the sport—players, managers, match officials, and club staff. The scope of these bans varies based on level of the English football pyramid.[40][41]

The following individuals are banned from betting on any football-related matter worldwide, or providing inside information to any individual who can reasonably be assumed to use said information for betting purposes:

Individuals who are associated at clubs at lower levels of the men's or women's league systems, plus match officials at FA Level 4 or below, are only banned with respect to the match or competition in which they are involved or can influence, and also to the league in which they participate.

All individuals are banned from advertising or promoting any football betting activity in which FA regulations prohibit them from engaging. This, however, only applies to individuals in their personal capacities. For example, if a club is sponsored by a betting company and said company places its logo on the club's kit, the team's players are not in violation of the betting rules.

International baseball and softball

The World Baseball Softball Confederation, the international governing body for baseball and softball, has betting rules similar to those of Major League Baseball. Participants in any WBSC-sanctioned event are banned from betting on the following:[42]

  • Any WBSC competition in which they are participating.
  • Any event in the participant's sport, even if not directly governed by WBSC. For example:
    • An individual involved with a national baseball team cannot bet on a Major League Baseball game.
    • However, someone involved solely with a national softball team can bet on an MLB game.
  • Any event in any multisport competition in which an individual is participating. For example, an Olympic baseball or softball player cannot bet on any Olympic event taking place at that specific Summer Olympics.

The WBSC statutes define "participant" as any player, team staff member (including coaches/managers), tournament official (such as umpires and official scorers), or anyone in an ownership, executive, or staff role within any entity that organizes or promotes a WBSC-sanctioned event.

The betting ban, as in the case of The FA's rules outlined above, also extends to providing inside information that the tipper could reasonably believe will be used to bet on a WBSC event.

Cricket

The International Cricket Council imposes a blanket ban on what it calls "corrupt conduct" by anyone it defines as a "participant".[43]

Under the ICC anti-corruption statutes, a "participant" is defined as:

  • Anyone who has been selected to play in any international or domestic match that falls under the jurisdiction of any national cricket federation[a] within the previous 24 months (defined by the ICC as a "player").
  • Anyone who "is employed by, represents or is otherwise affiliated to" any international or domestic team falling under the jurisdiction of any national federation (defined by the ICC as "player support personnel"). Those who have served in such a role in the past remain subject to the code for 24 months after the end of their term.
  • Any cricketer or player support staffer who is currently under a ban imposed for violations of the ICC anti-corruption code, or the equivalent code of any national federation.
  • Any ICC administrative official, match referee, pitch curator (groundskeeper), player agent, umpire, or umpire support staffer.

The ICC shares anti-corruption jurisdiction with national cricket federations, all of which have anti-corruption rules substantially identical to those of the ICC. The ICC has elaborate mechanisms for determining whether it or a national federation will take action under the relevant anti-corruption code. In general, the ICC has either exclusive or priority jurisdiction over international matches, while national federations have responsibility for actions relating only to domestic matches.

The ICC code bans the following activities with regard to any international match, whether or not the participant had any involvement in said match, or any possible means of influencing the outcome:

  • Any attempted or actual match fixing, including spot-fixing (i.e., manipulating a specific event within a match).
    • However, manipulation of international matches strictly for strategic or tactical reasons is specifically excluded from the anti-corruption code. Such actions instead constitute violations of the ICC's code of conduct.
  • Seeking, offering, accepting, or agreeing to accept a bribe to fix a match or event within a match.
  • Betting on any match, or on any event within a match. Soliciting such a bet is also banned.
  • Misuse of inside information that could reasonably be used for betting purposes.
  • Providing any benefits for the purpose of violating the code.
  • Failing to report any attempted violation of the code by another individual, once the subject has become aware of it.

Famous betting scandals

 
Joseph J. "Sport" Sullivan was an American bookmaker and gambler from Boston, Massachusetts who helped to initiate the 1919 Black Sox Scandal.

In 1919, the Chicago White Sox faced the Cincinnati Reds in the World Series. This series would go down as one of the biggest sports scandals of all time. As the story goes, professional gambler Joseph Sullivan paid eight members of the White Sox (Oscar Felsch, Arnold Gandil, Shoeless Joe Jackson, Fred McMullin, Charles Risberg, George Weaver, and Claude Williams) around 10,000 dollars each to fix the World Series. All eight players were banned from playing professional baseball for the rest of their lives.[44] Pete Rose, the all-time MLB leader in hits, was similarly banned from baseball in 1989 for betting on games while he was an MLB manager.

The rule against gambling in baseball is known as "Rule 21," which is publicly posted on dugout walls and states: "Any player, umpire, or club or league official or employee, who shall bet any sum whatsoever on any baseball game in connection with which the bettor has a duty to perform shall be declared permanently ineligible." People permanently banned from Major League Baseball are also forever banned from entry into the Baseball Hall of Fame, although most such people have been reinstated a few years later by a later Commissioner of Baseball. For instance, Mickey Mantle and Willie Mays were both banned from baseball in 1983 after taking jobs as casino greeters (which would have expelled them from the Hall of Fame had it been allowed to stand); they were reinstated two years later. Only Rose has yet to be reinstated.

A 1906 betting scandal between the Massillon Tigers and Canton Bulldogs, two of the top teams in professional American football in the early 1900s, led to the demise of "big-money" professional football for several years. Modern research has suggested that the claims of betting were unsubstantiated.

On December 7, 1980, the San Francisco 49ers overcame a halftime deficit of 28 points in what became the greatest regular season comeback victory in NFL regular season history. By the beginning of the third quarter, notorious Vegas bookmaker Frank Rosenthal received forfeiture notices from 246 San Francisco bettors totaling more than $25,000 in premature winnings. Rosenthal was able to retain these winnings despite the final outcome of the game due to gambling regulations previously established by the NAGRA.[45]

The Cronje Affair was an India-South Africa Cricket match fixing scandal that went public in 2000.[46][47] It began in 1996 when the-then captain of the South African national cricket team, Hansie Cronje, was convinced by Mukesh "John" Gupta, an Indian bookmaker, to throw a match during a Test in Kanpur, India. The scheme was discovered when Delhi police recorded illegal dealings between Indian bookmaker Sanjay Chawla and Cronje. According to the Telegraph in 2010, Cronje was paid off a total of £65,000 from Gupta.[48]

Corruption in tennis has been long considered as issue.[49] In 2011, the former world No. 55 Austrian tennis player, Daniel Koellerer, became the first tennis player to be banned for life for attempting to fix matches. The violations were outstanding between October 2009 and July 2010 after The Tennis Integrity Units had launched an investigation on behalf of the International Tennis Federation and the ATP and WTA tours. In 2004 and 2006, Koellerer was banned for six months due to his bad behavior. In addition, in August 2010, he facilitated betting by placing odds for matches and had links for placing bets.[50]

Machine learning in sports betting

Machine learning models can make predictions in real time based on data from numerous disparate sources, such as player performance, weather, fan sentiment, etc. Some models have shown accuracy slightly higher than domain experts.[51] These models require a large amount of data that is comparable and well organized prior to analysis, which makes them particularly well suited to predicting the outcome of Esports matches, where large amounts of well structured data is available.[52]

See also

Footnotes

  1. ^ In the context of cricket, a "national" federation includes governing bodies whose remit covers multiple territories, with the most notable examples being the England and Wales Cricket Board and the West Indies Cricket Board.

References

  1. ^ "2012 NBA Finals Playoff Results coverage at VegasInsider.com, The Leader in Sportsbook and Gaming Information - NHL Scores, NHL Matchups, NHL News, NHL Odds, NHL Expert Picks". www.vegasinsider.com. Retrieved November 14, 2020.
  2. ^ "Club History Leicester City". Retrieved November 14, 2020.
  3. ^ a b c d e f Killick, Elizabeth; Griffiths, Mark (April 16, 2018). "In-Play Sports Betting: a Scoping Study". International Journal of Mental Health and Addiction. 17 (6): 1456–1495. doi:10.1007/s11469-018-9896-6.
  4. ^ "18 USC Ch. 50: GAMBLING". house.gov.
  5. ^ (PDF). www.caselaw.lp.findlaw.com. Archived from the original (PDF) on July 23, 2008.
  6. ^ (Davies, 2001)
  7. ^ Cortis, Dominic (2015). "Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds". Journal of Prediction Markets. 1. 9 (1): 1–14. doi:10.5750/jpm.v9i1.987.
  8. ^ a b "Interactive Map: Sports Betting in the U.S." American Gaming Association. Retrieved October 15, 2021.
  9. ^ "Sports betting history: Part II". Retrieved May 9, 2019.
  10. ^ "N.J. Gov. Chris Christie: "Let them try to stop us" from sports betting". Associated Press. May 25, 2012. Retrieved March 16, 2018 – via CBS News.
  11. ^ "Sports betting's growth in U.S. 'extraordinary'". ESPN.com. May 14, 2020. Retrieved May 9, 2021.
  12. ^ 'An uncertain line between fantasy sports, gambling' https://www.bostonglobe.com/sports/2015/08/02/fantasy-games-draw-scrutiny-ban-sports-gambling-blurs/XxWUs2cwrveLvJe8bFt3wI/story.html
  13. ^ 'Legalize and Regulate Sports Betting N.B.A. Commissioner Adam Silver: Allow Gambling on Pro Games', Adam Silver, https://www.nytimes.com/2014/11/14/opinion/nba-commissioner-adam-silver-legalize-sports-betting.html?_r=0
  14. ^ "Future of sports betting: the marketplace". October 26, 2016.
  15. ^ "Adam Silver's statement regarding Supreme Court's decision to overturn PASPA". pr.nba.com. May 14, 2018. Retrieved November 29, 2021.
  16. ^ Rob Manfred: MLB rethinking stance on sports betting – http://www.sportingnews.com/mlb/news/mlb-gambling-rules-rob-manfred-reconsider-pete-rose-hall-of-fame/1dctoqm3i8mvi11ltn6toaigmj
  17. ^ "Major League Baseball statement". MLB.com. MLB Advanced Media. Retrieved November 29, 2021.
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  19. ^ "'What's the NFL's end game with gambling?". ProFootballTalk. March 30, 2017.
  20. ^ "Adam Silver on sports betting: 'My sense is the law will change". July 19, 2017.
  21. ^ "NFL, MLB, NBA, NCAA and others react to Supreme Court decision on sports betting". usatoday.com. Retrieved November 29, 2021.
  22. ^ "NHL Statement on Today's Decision by the U.S. Supreme Court". media.nhl.com. Retrieved November 29, 2021.
  23. ^ "MLS Commish Talks Sports Betting: 'Bring It Out of the Dark Ages'". March 15, 2017.
  24. ^ Gleeson, Scott (September 11, 2018). "Alliance of American Football league, spring alternative to NFL, reveals gambling-focused strategy". USA TODAY. Retrieved October 2, 2018.
  25. ^ Rachuk, Stephen (February 2, 2019). A quick recap of Oliver Luck on radio row. Retrieved February 6, 2019.
  26. ^ "Casino industry ramps up effort to repeal sports betting ban - Las Vegas Sun Newspaper". June 12, 2017.
  27. ^ "New NBA, MLB Lobbying Doc: 'Sports Leagues Should Be Compensated'". Legal Sports Report. February 8, 2018. Retrieved February 13, 2018.
  28. ^ "Report: Point-Shaving Inquiry at UNLV: College basketball: Newspaper says federal authorities examining relationship between players and convicted sports fixer Perry". Los Angeles Times. February 14, 1992. Retrieved December 19, 2021.
  29. ^ "ASU Point-Shaving Leader Sentenced". cbsnews.com. Retrieved December 19, 2021.
  30. ^ "How US Sports Leagues Evolved on Sports Betting". sportsbetting3.com. November 12, 2021. Retrieved December 19, 2021.
  31. ^ "Supreme Court strikes down sports betting law". ESPN.com. May 14, 2018. Retrieved February 8, 2022.
  32. ^ "What the Supreme Court's sports gambling decision means". The Washington Post. May 14, 2018. Retrieved February 8, 2022.{{cite news}}: CS1 maint: url-status (link)
  33. ^ "NCAA supports federal sports wagering regulation". ncaa.org. Retrieved December 19, 2021.
  34. ^ "Bylaw 10.3: Sports Wagering Activities" (PDF). 2021–22 NCAA Division I Manual. NCAA. August 1, 2021. pp. 44–45. Retrieved January 19, 2022.
  35. ^ "Bylaw 10.3: Sports Wagering Activities" (PDF). 2021–22 NCAA Division II Manual. NCAA. August 1, 2021. pp. 48–49. Retrieved January 19, 2022.
  36. ^ "Bylaw 10.3: Sports Wagering Activities" (PDF). 2021–22 NCAA Division III Manual. NCAA. August 1, 2021. pp. 44–45. Retrieved January 19, 2022.
  37. ^ "Bylaw 10.3.1: Sports Wagering Activities, Scope of Application" (PDF). 2021–22 NCAA Division I Manual. NCAA. August 1, 2021. p. 45. Retrieved January 19, 2022. Identical language exists in the Division II and Division III manuals.
  38. ^ "Bylaw 10.3.1.1: Sports Wagering Activities, Exception" (PDF). 2021–22 NCAA Division I Manual. NCAA. August 1, 2021. p. 45. Retrieved January 19, 2022. Identical language exists in the Division II and Division III manuals.
  39. ^ "Sports Wagering - NCAA.org". ncaa.org. Retrieved December 19, 2021.
  40. ^ "Know the Rules: Betting, Match Fixing & Inside Information". The Football Association. Retrieved January 26, 2019.
  41. ^ "Rule E8: Betting". The FA Handbook 2018/2019. The Football Association. Retrieved January 26, 2019.
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  43. ^ The International Cricket Council Anti-Corruption Code for Participants, 9 February 2018. Downloadable from the ICC here.
  44. ^ Finley, 2008
  45. ^ "Coiffeur casino mont dore nc". www.steinmetz-foundation.co.il (in Hebrew). Retrieved November 15, 2021.
  46. ^ "The Cronje chronicles". ESPNcricinfo. Retrieved November 15, 2021.
  47. ^ "Hansie Cronje match-fixing scandal: Sanjeev Chawla, the one that got away". The Indian Express. February 14, 2020. Retrieved November 15, 2021.
  48. ^ "How Hansie Cronje became most infamous villain in cricket's fixing scandals". May 26, 2010. Archived from the original on January 12, 2022. Retrieved June 22, 2013.
  49. ^ "No sport easier to fix than tennis". June 19, 2014. Retrieved November 7, 2014.
  50. ^ "Daniel Koellerer banned for life". May 31, 2011. Retrieved October 20, 2014.
  51. ^ Bunker, Rory P.; Thabtah, Fadi (September 2017). "A machine learning framework for sport result prediction". Applied Computing and Informatics. 15: 27–33. doi:10.1016/j.aci.2017.09.005. ISSN 2210-8327.
  52. ^ Silverio, Manuel (July 26, 2021). "My findings on using machine learning for sports betting: Do bookmakers always win?". Medium. Retrieved November 15, 2021.

Bibliography

  • Boyd, Kier (1981). Gambling Technology Washington, DC: FBI Laboratory
  • Davies, Richard (2001). Betting the Line Columbus, Ohio: The Ohio State University Press ISBN 0-8142-0880-0
  • Finley, Peter (2008). Sports Scandals Westport, Connecticut: Greenwood Press ISBN 978-0-313-34458-9
  • Rose, Pete (2004). My Prison Without Bars St. Martin's Press ISBN 1-57954-927-6
  • Thompson, William (2001). Gambling in America—An Encyclopedia of History, Issues, and Society Santa Barbara, CA: ABC-CLIO ISBN 1-57607-159-6

External links

  Media related to Sports betting at Wikimedia Commons

sports, betting, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, examples, perspective, this, article, represent, worldwide, view, subject, improve, this, article, disc. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages The examples and perspective in this article may not represent a worldwide view of the subject You may improve this article discuss the issue on the talk page or create a new article as appropriate June 2018 Learn how and when to remove this template message This article may be too technical for most readers to understand Please help improve it to make it understandable to non experts without removing the technical details July 2020 Learn how and when to remove this template message Learn how and when to remove this template message Sports betting is the activity of predicting sports results and placing a wager on the outcome The frequency of sports bet upon varies by culture with the vast majority of bets being placed on association football American football basketball baseball hockey track cycling auto racing mixed martial arts and boxing at both the amateur and professional levels Sports betting can also extend to non athletic events such as reality show contests and political elections and non human contests such as horse racing greyhound racing and cockfighting It is not uncommon for sports betting websites to offer wagers for entertainment events such as the Grammy Awards the Oscars and the Emmy Awards Odds boards in a Las Vegas sportsbook Sports bettors place their wagers either legally through a bookmaker sportsbook or illegally through privately run enterprises referred to as bookies The term book is a reference to the books used by wage brokers to track wagers payouts and debts Many legal sportsbooks are found online operated over the Internet from jurisdictions separate from the clients they serve usually to get around various gambling laws such as the Unlawful Internet Gambling Enforcement Act of 2006 in the United States in select markets such as Las Vegas Nevada or on gambling cruises through self serve kiosks They take bets up front meaning the bettor must pay the sportsbook before placing the bet Illegal bookies due to the nature of their business can operate anywhere but only require money from losing bettors and don t require the wagered money up front creating the possibility of debt to the bookie from the bettor This creates a number of other criminal elements thus furthering their illegality There have been a number of sports betting scandals affecting the integrity of sports events through various acts including point shaving players affecting the score by missing shots spot fixing a player action is fixed bad calls from officials at key moments and overall match fixing the overall result of the event is fixed Examples include the 1919 World Series the alleged and later admitted illegal gambling of former baseball player Pete Rose and former NBA referee Tim Donaghy Contents 1 Types of bets 1 1 United States 2 Bookmaking 3 Odds 4 Legality 4 1 United States 5 Positions of American Professional Sports Leagues 5 1 NBA 5 2 MLB 5 3 NFL 5 4 NHL 5 5 Other American Professional Leagues 5 6 Advocacy and Lobbying 6 Position of American NCAA 7 Positions of other sports leagues and governing bodies 7 1 English football 7 2 International baseball and softball 7 3 Cricket 8 Famous betting scandals 9 Machine learning in sports betting 10 See also 11 Footnotes 12 References 13 Bibliography 14 External linksTypes of bets EditSee also Glossary of bets offered by UK bookmakers United States Edit This section needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Sports betting news newspapers books scholar JSTOR August 2020 Learn how and when to remove this template message Betting on the Favorite an 1870 engraving published in Harper s Weekly Moneyline bets do not have a spread or handicap and require the chosen team to win the game outright The favored team pays lower odds than does the underdog thus it acts mainly as an enticement to take the underdog for a better payout Sometimes a bettor may couple this type of bet on the favored team to increase the payout of a parlay Spread betting are wagers that are made against the spread The spread or line is a number assigned by the bookmakers which handicaps one team and favors another when two teams play each other and one is perceived as being more likely to win The favorite gives points from the final score and the underdog takes points This number can also be in increments of half a point 5 even though very few sports have 5 point scoring i e The Ryder Cup to avoid the possibility of a tie For example before game 5 of the 2012 NBA Finals the Miami Heat were expected to beat the Oklahoma City Thunder The line read Miami 3 5 Oklahoma City 3 5 1 To determine who wins against the spread the line is either added or subtracted from a team s final score In the above example if the bettor chose Miami for him to win his bet Miami would have to win the game by 4 points or more If a bettor took Oklahoma City they would have to win outright or lose by 3 points or fewer If the final adjusted score is a tie the bet is considered a push The half point at the end is sometimes added to eliminate the possibility of a push This is the most common type of bet in American sports betting Total Over Under bets are wagers made based on the total score between both teams In an example if an MLB game has a total of 10 5 an over bettor will want the combined total to be greater and the opposite for a bettor taking the under If the combined total is the same as the proposed total the bet is a push Most sports books refund all wagers on pushes though a minority counts them as losses Proposition bets are wagers made on a very specific outcome of a match not related to the final score usually of a statistical nature Examples include predicting the number of goals a star player scores in an association football match betting whether a player will run for a certain number of yards in an American football game or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team Parlays A parlay involves multiple bets that rewards successful bettors with a greater payout only if all bets in the parlay win A parlay is at least two bets but can be as many as the bookmaker will allow The possible payout of the parlay is determined by the combined likelihood of all bets placed A parlay of riskier bets more underdogs will pay greater than a parlay of more likely bets more favorites In a parlay all bets need to win in order for the parlay to win If one of the bets on a parlay loses the whole parlay loses In the event of a push the pushed bet would be taken out of the parlay and the parlay would bump down to a set of odds without that bet Parlays are very appealing to bettors because they pay out much more than the total winnings of their constituent straight bets However it is much more difficult to hit on a parlay than it is on a single wager Teasers A teaser is a parlay that gives the bettor an advantage at a lower but still positive payout if successful The bettor selects the sport s number of games and number of points given If the bettor takes two NBA games at 6 5 it will adjust the individual bets at that rate So a bet on a 3 point underdog at 3 will become a bet at 9 5 points and for favorites it will change a 3 point favorite at 3 to 3 5 points Although the rules to win his bet are the same as a parlay he is paid less than a regular parlay due to the increased odds of winning If bets An if bet consists of at least two straight bets joined together by an if clause which determines the wager process If the player s first selection complies with the condition clause then the second selection will have action if the second selection complies with the condition then the third selection will have action and so on Run line puck line or goal line bets These are wagers offered as alternatives to money line wagers in baseball hockey or soccer respectively These bets are effectively point spread bets that have the same money line odds on either side of the wager i e industry standard of 110 to 115 Sportsbooks will occasionally shift the moneyline by a few points on either side of these spread bets Futures wagers While all sports wagers are by definition on future events bets listed as futures generally have a long term horizon measured in weeks or months for example a bet that a certain NFL team will win the Super Bowl for the upcoming season Such a bet can be made before the season starts in September for the best possible payout but futures are typically available year round with payouts being reduced as the season progresses and it becomes easier to predict a champion In this example winning bets will not pay off until the conclusion of the Super Bowl in January or February although many of the losing bets will be clear well before then and can be closed out by the book Odds for such a bet generally are expressed in a ratio of units paid to unit wagered The team wagered upon might be 50 1 or 5000 to win the Super Bowl which means that the bet will pay 50 times the amount wagered if the team does so In general most sportsbooks will prefer this type of wager due to the low win probability and also the longer period of time in which the house holds the player s money while the bet is pending For this same reason most professional bettors do not prefer to place futures bets A sportsbook may choose to buy in play futures wagers at a price below the actual payout before a championship is decided if the potential payout is very high and thus damaging to the sportsbook due to the money that may be lost The most recent example of this was when Leicester City pursued and went on to win the 2015 16 Premier League 2 Head to Head In these bets bettor predicts competitors results against each other and not on the overall result of the event One example are Formula One races where you bet on two or three drivers and their placement among the others Sometimes you can also bet a tie in which one or both drivers either have the same time drop out or get disqualified Totalizators In totalizators sometimes called flexible rate bets the odds are changing in real time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet For example If the bookmakers return percentage is 90 90 of the amount placed on the winning result will be given back to bettors and 10 goes to the bookmaker Naturally the more money bet on a certain result the smaller the odds on that outcome become This is similar to parimutuel wagering in horse racing and dog racing Half bets A half halftime bet applies only to the score of the first or second half This bet can be placed on the spread line or over under This can also be applied to a specific quarter in American football or basketball a fewer number of innings in baseball or a specific period in hockey In play betting In play betting or live betting is a fairly new feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress In play betting first appeared towards the end of the 1990s when some bookmakers would take bets over the telephone whilst a sports event was in progress and has now evolved into a popular online service in many countries 3 The introduction of in play betting has allowed bookmakers to increase the number of markets available to bet on during sports events and gamblers are able to place bets based on many types of in game activity during the matches For example in football matches it is possible to bet in on in play markets including the match result half time score number of goals scored in the first or second half of the game the number of yellow cards during the match and the name of the goal scorers 3 The availability of a particular sport and in play markets varies from bookmaker to bookmaker In play sports betting has structural characteristics that have changed the mechanics of gambling for sports bettors as they can now place a larger number of bets during a single sports game as opposed to a single bet on who is going to win One of the most important differences between being able to place an in running sports bet opposed to a pre match bet is that the nature of the market has been turned what was previously a discontinuous form of gambling into a continuous one The gambling study literature has suggested that in play sports betting may offer more of a risk to problem gamblers because it allows the option for high speed continuous betting and requires rapid and impulsive decisions in the absence of time for reflection 3 There are three different types of in play sports betting products cash out Edit my Acca and Edit my Bet Cash Out Cash Out betting functionality lets the user of a betting website take profit early if their bet is coming in or get some of their stake back if their bet is going against them all before the event is over Cash Out offers are optionally made by the website in real time on some current bets held by the user and are optionally taken by the user by clicking on a button on the webpage to Cash out Cash Out sports betting functionality developed on digital betting websites after 2008 with the evolution of betting exchanges It was later adopted by online sports books and suppliers of betting software Cash out is offered to users by online sportsbook operators based on the profitability of offering the option to the user to divest their existing bet on an outcome and is sometimes available on singles and multiples It is regularly offered on a wide range of sports including American football tennis horse racing basketball and most other markets You can Cash Out of bets pre play in play and between legs before the outcome of the event It has proved a key customer retention tool for sports book operators looking to capitalize on the use of mobile handsets while the bettor user is also watching a given event 3 Edit My Acca This feature allows gamblers to remove selections from their accumulator after the bet has been placed and in some instances after the selected event has started The betting slip is then revised to feature the amended selections and a new potential return amount This can be done online or via a mobile device 3 Edit My Bet The edit bet feature can be used by gamblers to unsettle straight accumulators before matches have started or whilst they are in play The feature can also be used for to swap single bets for new bets and the gambler is given a new bet selection valued at the bookie s cash out price to reflect live market game odds for the original bet 3 Bookmaking EditMain article Bookmaker The bookmaker functions as a market maker for sports wagers most of which have a binary outcome a team either wins or loses The bookmaker accepts both wagers and maintains a spread the vigorish which will ensure a profit regardless of the outcome of the wager The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking 4 However this Act does not apply to other types of online gambling 5 The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to online gambling Bookmakers usually hold an 11 10 advantage over their customers for small wagers it is closer to a 6 5 advantage so the bookmaker will most likely survive over the long term Successful bookmakers must be able to withstand a large short term loss Boyd 1981 Many of the leading gambling bookmakers from the 1930s to the 1960s got their start during the prohibition era of the 1920s They were often descendants of the influx of immigrants coming into the USA at this time Although the common stereotype is that these bookies were of Italian descent many leading bookies were of eastern European ancestry 6 Odds EditOdds for different outcomes in single bet are presented either in European format decimal odds UK format fractional odds or American format money line odds European format decimal odds are used in continental Europe Canada and Australia They are the ratio of the full payout to the stake in a decimal format Decimal odds of 2 00 are an even bet UK format fractional odds are used by British bookmakers They are the ratio of the amount won to the stake the solidus is pronounced to for example 7 1 seven to one Fractional odds of 1 1 are an even bet US format odds are the amount won on a 100 stake when positive and the stake needed to win 100 when negative US odds of 100 are an even bet Decimal Fractional US Hong Kong Indo Malay Implied probability1 50 1 2 200 0 50 2 00 0 50 1 in 1 5 67 2 00 Evens 1 1 100 1 00 1 00 1 00 1 in 2 50 2 50 6 4 150 1 50 1 50 0 67 1 in 2 5 40 3 00 2 1 200 2 00 2 00 0 50 1 in 3 33 Conversion formulas x To Do thisDecimal Fractional x 1 then convert to fractionDecimal US 100 x 1 if x gt 2 100 x 1 if x lt 2Fractional Decimal divide fraction then x 1Fractional US divide fraction then 100 x if x gt 1 100 x if x lt 1US Decimal x 100 1 if x gt 0 100 x 1 if x lt 0US Fractional x 100 if x gt 0 100 x if x lt 0Decimal Hong Kong x 1Hong Kong Indo x if x gt 1 1 x 1 if x lt 1Hong Kong Malay x if x lt 1 1 x 1 if x gt 1In Asian betting markets other frequently used formats for expressing odds include Hong Kong Malaysian and Indonesian style odds formats Odds are also quite often expressed in terms of implied probability which corresponds to the probability with which the event in question would need to occur for the bet to be a break even proposition on the average Many online tools also exist for automated conversion between these odds formats In setting odds the bookmaker is subject to a number of limitations 7 The probability implied by the odds should be greater than the true probability for each possible outcome to guarantee positive expected profit If the wagers on each outcome are made in ratio to the implied odds then the bookmaker is guaranteed a profit balanced book Legality Edit Sportsbook at Wynn Las Vegas during Super Bowl XLII February 2008 In many countries bookmaking the profession of accepting sports wagers is regulated but not criminalized The opinions of betting from sport authorities are mixed The United States National Football League was previously fully against any sort of legalization of sports betting prior to the late 2010s strongly protesting it as to not bring corruption into the game citation needed On the other hand the CEO of the International Cricket Council believe sports betting in particular in India should be legalized to curb illegal bookies where match fixing has occurred from nontransparent bookmakers citation needed However according to the Law Commission of India all forms of gambling are illegal Online sports betting is a gray area and is not banned by any particular law in the Indian legal system That is because specific provisions distinguish between games of chance and games of skill United States Edit Main article Gambling in the United States Sports betting Map of sports betting legality as of October 15 2021 update 8 Sports betting legal Sports betting illegal In the United States it was previously illegal under the Professional and Amateur Sports Protection Act of 1992 PASPA for states to authorize legal sports betting hence making it effectively illegal The states of Delaware Montana Nevada and Oregon which had pre existing sports lotteries and sports betting frameworks were grandfathered in and exempted from the effects of the Act 9 10 PASPA was struck down by the Supreme Court in Murphy v National Collegiate Athletic Association in 2018 paving the way for other states to legalize sports betting In May 2020 it was reported that since the Supreme Court s PASPA decision over 20 billion had been spent on sports betting in the United States 11 As of May 2022 30 states and Washington D C have operational legalized sports betting while an additional four states have legalized it but have not yet launched legal sportsbooks 8 Positions of American Professional Sports Leagues EditThe positions of the four major American sports leagues representing American football baseball basketball and ice hockey have become more complex since their decision to embrace daily fantasy sports DFS in 2014 which are described by those within the industry as almost identical to a casino in nature With the contention by critics that such activities blur the lines between gambling and fantasy sports the endorsement of all four major sports leagues and many individual franchises provided a marked contrast to their positions on betting 12 Professional sports leagues updated their positions again on May 14 2018 when the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act of 1992 PASPA NBA Edit While the National Basketball Association NBA was once active in preventing sports betting law relaxation current NBA Commissioner Adam Silver became the first major sports leader to break from previous administrative opposition to gambling In 2014 he stated in a New York Times op ed I believe that sports betting should be brought out of the underground and into the sunlight where it can be appropriately monitored and regulated 13 In 2017 with support for legalization growing he confirmed his belief that legalized sports betting is inevitable 14 Silver released the following statement following the Supreme Court s overturning of PASPA Today s decision by the Supreme Court opens the door for states to pass laws legalizing sports betting We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it but we will remain active in ongoing discussions with state legislatures Regardless of the particulars of any future sports betting law the integrity of our game remains our highest priority 15 MLB Edit Major League Baseball MLB Commissioner Rob Manfred has also advocated the league changing its stance on sports betting with both Manfred and Silver noting that the scale of illegal sports betting makes opposition to betting meaningless He also stated a willingness to try to shape any future legislation at federal level This was noted as a marked contrast to former Commissioner of the MLB Bud Selig with Manfred going beyond tacit approval and stating There is this buzz out there in terms of people feeling that there may be an opportunity here for additional legalized sports betting 16 MLB released the following statement when the Supreme Court overturned PASPA Today s decision by the United States Supreme Court will have profound effects on Major League Baseball As each state considers whether to allow sports betting we will continue to seek the proper protections for our sport in partnership with other professional sports Our most important priority is protecting the integrity of our games We will continue to support legislation that creates air tight coordination and partnerships between the state the casino operators and the governing bodies in sports toward that goal 17 In April 2022 league owned television channel MLB Network launched Pregame Spread a weekday afternoon show hosted by Matt Vasgersian dedicated to analysis of betting lines and other aspects of sports gambling 18 NFL Edit The National Football League NFL remains the only sports league to maintain public opposition to sports betting however critics have noted that with the move of the Oakland Raiders to Las Vegas in 2019 the NFL has positioned itself for legalization while simultaneously contradicting its long held position that sports betting in NFL markets would lead to potential match fixing 19 Commissioner Roger Goodell agreed with Manfred in a July 2017 seminar that betting on in game events as opposed to the outcome of games was a more palatable form of sports betting 20 Like the NBA and MLB the NFL issued a statement on May 14 2018 It emphasized the league s commitment to protecting the integrity of the game The NFL s long standing and unwavering commitment to protecting the integrity of our game remains absolute Moreover the NFL called on Congress to craft a Federal framework for regulated sports betting Congress has long recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events Given that history we intend to call on Congress again this time to enact a core regulatory framework for legalized sports betting 21 NHL Edit The National Hockey League NHL has not stated a public position for or against sports betting with Commissioner Gary Bettman noting that they are smaller than the NBA and NFL and less vulnerable to negative issues as a result The NHL was the first major professional league to place a team in Nevada when the expansion Vegas Golden Knights took the ice in 2017 since then the league has signed sponsorship agreements with William Hill and MGM Resorts International that include betting partnerships and access to in play data Other clubs in states with legal sports gambling such as the New Jersey Devils and Philadelphia Flyers also have similar sponsorships with bookmakers Following other US professional sports leagues the NHL acknowledged the Supreme Court s PASPA decision with an internal review of its policies The Supreme Court s decision today paves the way to an entirely different landscape one in which we have not previously operated We will review our current practices and policies and decide whether adjustments are needed and if so what those adjustments will look like It s important to emphasize that the Supreme Court s decision has no immediate impact on existing League rules relating to sports wagering and particularly wagering involving NHL games 22 Other American Professional Leagues Edit Major League Soccer MLS the top soccer league in the United States and Canada has expressed sports betting as a possible way to gain popularity Commissioner Don Garber has stated about sports gambling We have a project going on now to really dig in deeply and understand it I ll join the chorus of saying it s time to bring it out of the dark ages We re doing what we can to figure out how to manage that effectively 23 The Alliance of American Football and XFL have both publicly endorsed gambling on their games with the AAF securing a partnership with MGM Resorts International 24 and the XFL partnering with DraftKings 25 Advocacy and Lobbying Edit The American Gaming Association stated in June 2017 that a coalition will advocate for the repeal of the United States sports betting ban 26 In February 2018 a lobbying document surfaced advocating a new position held by the NBA and MLB that sports leagues should be financially compensated for betting activity 27 Position of American NCAA EditPerhaps the most extreme ban on sports betting is imposed by the NCAA the main governing body for U S college sports The NCAA reified their position in the wake of various betting scandals including the 1992 University of Nevada Las Vegas and 1994 Arizona State University Point shaving scandals 28 29 As states began legalizing sports betting in the late 2010s the NCAA signaled a shift in tone In 2017 NCAA President Mark Emmert talked about Las Vegas possibly hosting the NCAA Division I men s basketball tournament in the future 30 NCAA President Mark Emmert acknowledged the Supreme Court s overturn of PASPA on May 14 2018 31 32 restating the NCAA s strong commitment to competition and its student athletes Our highest priorities in any conversation about sports wagering are maintaining the integrity of competition and student athlete well being Emmert also emphasized the importance of proper federal regulation While we recognize the critical role of state governments strong federal standards are necessary to safeguard the integrity of college sports and the athletes who play these games at all levels 33 As of the 2021 22 school year the official manuals for all three NCAA divisions still expressly ban a member institution s athletic department staff non athletic staff with responsibilities related to athletic activities athletic conference staff and student athletes from knowingly participating in sports wagering activities 34 35 36 This ban covers all competitions whether intercollegiate amateur or professional as well as team practices in any sport in which the NCAA conducts a championship plus Division I FBS football whose championships have never been operated by the NCAA and all sports within the scope of the NCAA Emerging Sports for Women program 37 The only exception is traditional wagers between institutions most commonly associated with rivalries or bowl games according to the NCAA items wagered must be representative of the involved institutions or the states in which they are located 38 The NCAA maintains that Sports wagering has the potential to undermine the integrity of sports contests and jeopardizes the well being of student athletes and the intercollegiate athletics community It also demeans the competition and competitors alike by spreading a message that is contrary to the purpose and meaning of sport 39 Positions of other sports leagues and governing bodies EditEnglish football Edit Premier League kit of West Ham United sponsorship by Betway The Football Association the governing body for association football in England has imposed football betting bans on all individuals involved in the sport players managers match officials and club staff The scope of these bans varies based on level of the English football pyramid 40 41 The following individuals are banned from betting on any football related matter worldwide or providing inside information to any individual who can reasonably be assumed to use said information for betting purposes All players managers and club staff associated with any club occupying any of the top eight levels of the men s league system the Premier League English Football League and the top four levels of the National League system or the top two levels of the women s league system the Women s Super League and Women s Championship All match officials plus coaches and assessors thereof who operate at Level 3 or above in the FA s referee classification system Individuals who are associated at clubs at lower levels of the men s or women s league systems plus match officials at FA Level 4 or below are only banned with respect to the match or competition in which they are involved or can influence and also to the league in which they participate All individuals are banned from advertising or promoting any football betting activity in which FA regulations prohibit them from engaging This however only applies to individuals in their personal capacities For example if a club is sponsored by a betting company and said company places its logo on the club s kit the team s players are not in violation of the betting rules International baseball and softball Edit The World Baseball Softball Confederation the international governing body for baseball and softball has betting rules similar to those of Major League Baseball Participants in any WBSC sanctioned event are banned from betting on the following 42 Any WBSC competition in which they are participating Any event in the participant s sport even if not directly governed by WBSC For example An individual involved with a national baseball team cannot bet on a Major League Baseball game However someone involved solely with a national softball team can bet on an MLB game Any event in any multisport competition in which an individual is participating For example an Olympic baseball or softball player cannot bet on any Olympic event taking place at that specific Summer Olympics The WBSC statutes define participant as any player team staff member including coaches managers tournament official such as umpires and official scorers or anyone in an ownership executive or staff role within any entity that organizes or promotes a WBSC sanctioned event The betting ban as in the case of The FA s rules outlined above also extends to providing inside information that the tipper could reasonably believe will be used to bet on a WBSC event Cricket Edit The International Cricket Council imposes a blanket ban on what it calls corrupt conduct by anyone it defines as a participant 43 Under the ICC anti corruption statutes a participant is defined as Anyone who has been selected to play in any international or domestic match that falls under the jurisdiction of any national cricket federation a within the previous 24 months defined by the ICC as a player Anyone who is employed by represents or is otherwise affiliated to any international or domestic team falling under the jurisdiction of any national federation defined by the ICC as player support personnel Those who have served in such a role in the past remain subject to the code for 24 months after the end of their term Any cricketer or player support staffer who is currently under a ban imposed for violations of the ICC anti corruption code or the equivalent code of any national federation Any ICC administrative official match referee pitch curator groundskeeper player agent umpire or umpire support staffer The ICC shares anti corruption jurisdiction with national cricket federations all of which have anti corruption rules substantially identical to those of the ICC The ICC has elaborate mechanisms for determining whether it or a national federation will take action under the relevant anti corruption code In general the ICC has either exclusive or priority jurisdiction over international matches while national federations have responsibility for actions relating only to domestic matches The ICC code bans the following activities with regard to any international match whether or not the participant had any involvement in said match or any possible means of influencing the outcome Any attempted or actual match fixing including spot fixing i e manipulating a specific event within a match However manipulation of international matches strictly for strategic or tactical reasons is specifically excluded from the anti corruption code Such actions instead constitute violations of the ICC s code of conduct Seeking offering accepting or agreeing to accept a bribe to fix a match or event within a match Betting on any match or on any event within a match Soliciting such a bet is also banned Misuse of inside information that could reasonably be used for betting purposes Providing any benefits for the purpose of violating the code Failing to report any attempted violation of the code by another individual once the subject has become aware of it Famous betting scandals Edit Joseph J Sport Sullivan was an American bookmaker and gambler from Boston Massachusetts who helped to initiate the 1919 Black Sox Scandal In 1919 the Chicago White Sox faced the Cincinnati Reds in the World Series This series would go down as one of the biggest sports scandals of all time As the story goes professional gambler Joseph Sullivan paid eight members of the White Sox Oscar Felsch Arnold Gandil Shoeless Joe Jackson Fred McMullin Charles Risberg George Weaver and Claude Williams around 10 000 dollars each to fix the World Series All eight players were banned from playing professional baseball for the rest of their lives 44 Pete Rose the all time MLB leader in hits was similarly banned from baseball in 1989 for betting on games while he was an MLB manager The rule against gambling in baseball is known as Rule 21 which is publicly posted on dugout walls and states Any player umpire or club or league official or employee who shall bet any sum whatsoever on any baseball game in connection with which the bettor has a duty to perform shall be declared permanently ineligible People permanently banned from Major League Baseball are also forever banned from entry into the Baseball Hall of Fame although most such people have been reinstated a few years later by a later Commissioner of Baseball For instance Mickey Mantle and Willie Mays were both banned from baseball in 1983 after taking jobs as casino greeters which would have expelled them from the Hall of Fame had it been allowed to stand they were reinstated two years later Only Rose has yet to be reinstated A 1906 betting scandal between the Massillon Tigers and Canton Bulldogs two of the top teams in professional American football in the early 1900s led to the demise of big money professional football for several years Modern research has suggested that the claims of betting were unsubstantiated On December 7 1980 the San Francisco 49ers overcame a halftime deficit of 28 points in what became the greatest regular season comeback victory in NFL regular season history By the beginning of the third quarter notorious Vegas bookmaker Frank Rosenthal received forfeiture notices from 246 San Francisco bettors totaling more than 25 000 in premature winnings Rosenthal was able to retain these winnings despite the final outcome of the game due to gambling regulations previously established by the NAGRA 45 The Cronje Affair was an India South Africa Cricket match fixing scandal that went public in 2000 46 47 It began in 1996 when the then captain of the South African national cricket team Hansie Cronje was convinced by Mukesh John Gupta an Indian bookmaker to throw a match during a Test in Kanpur India The scheme was discovered when Delhi police recorded illegal dealings between Indian bookmaker Sanjay Chawla and Cronje According to the Telegraph in 2010 Cronje was paid off a total of 65 000 from Gupta 48 Corruption in tennis has been long considered as issue 49 In 2011 the former world No 55 Austrian tennis player Daniel Koellerer became the first tennis player to be banned for life for attempting to fix matches The violations were outstanding between October 2009 and July 2010 after The Tennis Integrity Units had launched an investigation on behalf of the International Tennis Federation and the ATP and WTA tours In 2004 and 2006 Koellerer was banned for six months due to his bad behavior In addition in August 2010 he facilitated betting by placing odds for matches and had links for placing bets 50 Machine learning in sports betting EditMachine learning models can make predictions in real time based on data from numerous disparate sources such as player performance weather fan sentiment etc Some models have shown accuracy slightly higher than domain experts 51 These models require a large amount of data that is comparable and well organized prior to analysis which makes them particularly well suited to predicting the outcome of Esports matches where large amounts of well structured data is available 52 See also EditArbitrage betting Betting pool Financial betting Friendly political wager Parimutuel betting Point shaving Sports betting systems Statistical association football predictions Virtual sportsFootnotes Edit In the context of cricket a national federation includes governing bodies whose remit covers multiple territories with the most notable examples being the England and Wales Cricket Board and the West Indies Cricket Board References Edit 2012 NBA Finals Playoff Results coverage at VegasInsider com The Leader in Sportsbook and Gaming Information NHL Scores NHL Matchups NHL News NHL Odds NHL Expert Picks www vegasinsider com Retrieved November 14 2020 Club History Leicester City Retrieved November 14 2020 a b c d e f Killick Elizabeth Griffiths Mark April 16 2018 In Play Sports Betting a Scoping Study International Journal of Mental Health and Addiction 17 6 1456 1495 doi 10 1007 s11469 018 9896 6 18 USC Ch 50 GAMBLING house gov Fifth Circuit ruling PDF www caselaw lp findlaw com Archived from the original PDF on July 23 2008 Davies 2001 Cortis Dominic 2015 Expected Values and variance in bookmaker payouts A Theoretical Approach towards setting limits on odds Journal of Prediction Markets 1 9 1 1 14 doi 10 5750 jpm v9i1 987 a b Interactive Map Sports Betting in the U S American Gaming Association Retrieved October 15 2021 Sports betting history Part II Retrieved May 9 2019 N J Gov Chris Christie Let them try to stop us from sports betting Associated Press May 25 2012 Retrieved March 16 2018 via CBS News Sports betting s growth in U S extraordinary ESPN com May 14 2020 Retrieved May 9 2021 An uncertain line between fantasy sports gambling https www bostonglobe com sports 2015 08 02 fantasy games draw scrutiny ban sports gambling blurs XxWUs2cwrveLvJe8bFt3wI story html Legalize and Regulate Sports Betting N B A Commissioner Adam Silver Allow Gambling on Pro Games Adam Silver https www nytimes com 2014 11 14 opinion nba commissioner adam silver legalize sports betting html r 0 Future of sports betting the marketplace October 26 2016 Adam Silver s statement regarding Supreme Court s decision to overturn PASPA pr nba com May 14 2018 Retrieved November 29 2021 Rob Manfred MLB rethinking stance on sports betting http www sportingnews com mlb news mlb gambling rules rob manfred reconsider pete rose hall of fame 1dctoqm3i8mvi11ltn6toaigmj Major League Baseball statement MLB com MLB Advanced Media Retrieved November 29 2021 Pregame Spread to debut Monday April 11 at 5 p m on MLB Network MLB com MLB Advanced Media April 6 2022 Retrieved April 22 2022 What s the NFL s end game with gambling ProFootballTalk March 30 2017 Adam Silver on sports betting My sense is the law will change July 19 2017 NFL MLB NBA NCAA and others react to Supreme Court decision on sports betting usatoday com Retrieved November 29 2021 NHL Statement on Today s Decision by the U S Supreme Court media nhl com Retrieved November 29 2021 MLS Commish Talks Sports Betting Bring It Out of the Dark Ages March 15 2017 Gleeson Scott September 11 2018 Alliance of American Football league spring alternative to NFL reveals gambling focused strategy USA TODAY Retrieved October 2 2018 Rachuk Stephen February 2 2019 A quick recap of Oliver Luck on radio row Retrieved February 6 2019 Casino industry ramps up effort to repeal sports betting ban Las Vegas Sun Newspaper June 12 2017 New NBA MLB Lobbying Doc Sports Leagues Should Be Compensated Legal Sports Report February 8 2018 Retrieved February 13 2018 Report Point Shaving Inquiry at UNLV College basketball Newspaper says federal authorities examining relationship between players and convicted sports fixer Perry Los Angeles Times February 14 1992 Retrieved December 19 2021 ASU Point Shaving Leader Sentenced cbsnews com Retrieved December 19 2021 How US Sports Leagues Evolved on Sports Betting sportsbetting3 com November 12 2021 Retrieved December 19 2021 Supreme Court strikes down sports betting law ESPN com May 14 2018 Retrieved February 8 2022 What the Supreme Court s sports gambling decision means The Washington Post May 14 2018 Retrieved February 8 2022 a href Template Cite news html title Template Cite news cite news a CS1 maint url status link NCAA supports federal sports wagering regulation ncaa org Retrieved December 19 2021 Bylaw 10 3 Sports Wagering Activities PDF 2021 22 NCAA Division I Manual NCAA August 1 2021 pp 44 45 Retrieved January 19 2022 Bylaw 10 3 Sports Wagering Activities PDF 2021 22 NCAA Division II Manual NCAA August 1 2021 pp 48 49 Retrieved January 19 2022 Bylaw 10 3 Sports Wagering Activities PDF 2021 22 NCAA Division III Manual NCAA August 1 2021 pp 44 45 Retrieved January 19 2022 Bylaw 10 3 1 Sports Wagering Activities Scope of Application PDF 2021 22 NCAA Division I Manual NCAA August 1 2021 p 45 Retrieved January 19 2022 Identical language exists in the Division II and Division III manuals Bylaw 10 3 1 1 Sports Wagering Activities Exception PDF 2021 22 NCAA Division I Manual NCAA August 1 2021 p 45 Retrieved January 19 2022 Identical language exists in the Division II and Division III manuals Sports Wagering NCAA org ncaa org Retrieved December 19 2021 Know the Rules Betting Match Fixing amp Inside Information The Football Association Retrieved January 26 2019 Rule E8 Betting The FA Handbook 2018 2019 The Football Association Retrieved January 26 2019 WBSC Statutes Sports Betting World Baseball Softball Confederation Retrieved January 26 2019 The International Cricket Council Anti Corruption Code for Participants 9 February 2018 Downloadable from the ICC here Finley 2008 Coiffeur casino mont dore nc www steinmetz foundation co il in Hebrew Retrieved November 15 2021 The Cronje chronicles ESPNcricinfo Retrieved November 15 2021 Hansie Cronje match fixing scandal Sanjeev Chawla the one that got away The Indian Express February 14 2020 Retrieved November 15 2021 How Hansie Cronje became most infamous villain in cricket s fixing scandals May 26 2010 Archived from the original on January 12 2022 Retrieved June 22 2013 No sport easier to fix than tennis June 19 2014 Retrieved November 7 2014 Daniel Koellerer banned for life May 31 2011 Retrieved October 20 2014 Bunker Rory P Thabtah Fadi September 2017 A machine learning framework for sport result prediction Applied Computing and Informatics 15 27 33 doi 10 1016 j aci 2017 09 005 ISSN 2210 8327 Silverio Manuel July 26 2021 My findings on using machine learning for sports betting Do bookmakers always win Medium Retrieved November 15 2021 Bibliography EditBoyd Kier 1981 Gambling Technology Washington DC FBI Laboratory Davies Richard 2001 Betting the Line Columbus Ohio The Ohio State University Press ISBN 0 8142 0880 0 Finley Peter 2008 Sports Scandals Westport Connecticut Greenwood Press ISBN 978 0 313 34458 9 Rose Pete 2004 My Prison Without Bars St Martin s Press ISBN 1 57954 927 6 Thompson William 2001 Gambling in America An Encyclopedia of History Issues and Society Santa Barbara CA ABC CLIO ISBN 1 57607 159 6External links Edit Media related to Sports betting at Wikimedia Commons Retrieved from https en wikipedia org w index php title Sports betting amp oldid 1136446015, wikipedia, wiki, book, books, library,

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