Betting

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-BettingBetting, and sports are terms often related to one another due to betting being the main source

of income in sports throughout the globe. It is an open-secret that betting has lead to acts against the football ethics code, such as fix-matching and altering of results of sports competition. Thus, betting has been a tool for syndicates to turn their illegal money obtained from fix-matching into money that is legal. According to the FIFA Task Force, football, amongst all of other sports, became the popular prey for all sorts of illegal betting due to its particular structure and also the mass requirement to finance the whole system in a short notice. Nevertheless, football fix-matching seem to occur and focus more on less popular competitions and leagues (such as the CocaCola Championship) as compared to the top ones (such as the English Premier League and The UEFA championship). This is due to massive attention given to the top leagues and competitions by the media and the public as opposed to the less popular ones, and in return, gave the illegal betting syndicates a chance to influence the results of the matches. Football, has been in a serious disrepute recently, due to scandals revolving fix-matching by illegal betting syndicates. It is apparent that betting has become a major problem in sports now. It has even escalated to develop across continents and countries with the links of several syndicates and various operators. According to Mr. Fahimi, the public relations officer of the National Sports Council, it was found that there were evidence showing that local illegal betting syndicates had influenced a few of the matches in the English Premier League, and it is believed that it is still happening now. Nevertheless, there is a type of sports that has become the new trend of betting horse-racing. However, certain tracks forbid such act. There are two types of betting in horseracing, namely a bet to win and a bet to put. A bet to win, often known as a straight bet, means that if the particular horse u bet on, runs in the first place, the bet is a victor. On the other hand, in a bet to put, you win by betting on a horse that is either the champion or the first-runner up. On another note, there are tracks that allow betting. When gambling is allowed, most tracks offer pari-mutuel betting where gamblers' money is pooled and shared proportionally among the winners once a deduction is made from the pool. In certain countries, for instance, UK, Ireland and Australia, bookmakers provide alternate and rather popular facilities and have effectively made a market in odds. In result, the gamblers are allowed to lock-in odds on a certain horse, at a particular time (also known as taking the

price in UK). On top of that, pari-mutuel gambling too provides a huge amount of tax revenue, with more than $100 billions wagered annually in 53 countries, and also pocketmoney, to the gamblers.

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