Deadline looms for bookmakers
Organizers of a single trade association for bookmakers have set a target date of November 1 for the establishment of the new body, which will be known as the Association of British Bookmakers.
Members of the Betting Office Licensees Association (BOLA) and the British Betting Office Association (BBOA) still have to sign off on the changes, which will mean the disappearance of current groups that join the new ABB.
However, their officials have committed BOLA and BBOA to becoming founding members, and agreement is regarded as a formality, and BBOA chairman Warwick Bartlett is expected to take up a similar role within the new organization.
The National Association of Bookmakers (NAB), which has been involved in the discussions throughout, has been given until the end of this month to make a decision about whether they will join the new group or remain as an independent body.
Trial Starts for Third Atiyeh Brother
One of sports betting's most infamous families of late is back in the courtroom.
George Atiyeh appeared in a Philadelphia-area courtroom on Tuesday facing allegations that he ran an illegal sports betting ring. Two of his brothers faced similar charges nearly a year ago, but were acquitted on all charges.
According to the indictment, filed early this year, Atiyeh is charged with operating an offshore sports book out of Antigua. The business also allegedly had operations based in Quebec and Allentown, Pa.
Atiyeh's brothers, Dennis Atiyeh and 1984 Olympic silver medallist Joseph Atiyeh, were cleared> on nearly identical charges in March 2001.
George Atiyeh is charged with running an illegal gambling business, conspiracy, transmission of wagering information and money laundering.
If convicted, Atiyeh faces a maximum sentence of 20 years in prison and up to a $500,000 fine for each of the eight money-laundering counts, which include the counts of substantive money laundering and the money-laundering conspiracy count.
He also could face a maximum of five years in prison and a $250,000 fine, each for the conspiracy charge and the illegal gambling business charge.
In addition, Atiyeh could receive two years in prison and a $250,000 fine for each count of transmitting wagering information. He would also be required to forfeit the $1,061,000 he made through the betting operation.
P2P Battle Rolls on with High Street Bookmakers
Some rather interesting reports are coming out of the media in England regarding attempts by high street bookmakers to stave off a growing attack on business from person-to-person betting service providers.
Up until recently, traditional bookmakers saw the P2P sector as a non-threat and an activity that was blatantly breaking the law. Their stance was that if individuals were allowed to lay odds, they needed a bookmaker’s license, something that wasn't required of P2P sites.
They took their argument to the British government, which rebuked it on the grounds that P2P sites were in clear line of the law and no court challenge would be brought before them prior to a massive overhaul of gambling laws that is expected to start next year.
The bookies responded by playing their next card, which campaign aimed at showing punters how inadequate the P2P model is and how racing can be compromised because of it.
The world's leading P2P site, Betfair.com, sees a weekly volume of £50 million, an amount that no doubt has forced bookmakers to reconsider what they once considered a non-threat.
Last week the bookmakers again turned to the law. BOLA, the British bookmakers' trade association, charted a new course of attack aimed at Betfair.com.
Officials at Betfair.com have always contended that a large part of their business comes from on-track bookmakers, who are looking for an easy way to level off their books.
BOLA found a rule by the National Joint Pitch Council, the body that regulates on-course betting ring, which it claims should prevent racecourse bookies from using the exchanges because of the potential danger of artificially distorting the betting market ,or starting price.
The bookmakers could be shooting themselves in the foot, though, because it is a common practice for off-course betting operators to send money to local track to reduce odds on horses.
Coaches on the Hot Seat Get Odds
The start of the NFL season means more than just the start of straight-up beats, parlays and pushes.
Football, more than any other sport, lends itself to some of the most exotic proposition and sides bets, and this year is no exception.
BetWWWTS.com of Antigua has posted odds on which NFL coach will be fired first.
Dick LeBeau, head coach of the Cincinnati Bengals, has been installed as the early favorite to be the first coach to make an early exit at 2/1 odds. The San Diego Chargers thrashed the Bengals in week 1, so LeBeau didn't get the season started the way he was hoping.
Other head coaches that do not appear to have a strong hold on their jobs include Dave Campo, Dallas Cowboys (3/2); Dave McGinnis, Arizona Cardinals (3/1); Tom Coughlin, Jacksonville Jaguars (3/1); and Marty Mornhiweg, Detroit Lions (3/1).
Aussie Spread Betting Firms Could Face Taxation
Could spread betting be subject to taxation? Maybe so, as wrning shots are being fired by the Australian government.
The Australian Taxation Office sent out a warning last week that firms offering the popular alternative to traditional betting that is popular in the financial markets are looking into ways to tax the activity.
Tax Commissioner, Michael Carmody announced that the ATO is looking carefully at the tax issues involved in this type of gambling, but declined to offer details.
"We will shortly announce an official view to provide clarity to taxpayers," he explained in a statement released last week.
Nevada Regulators Not Concerned with Conspiracy Theories
The Nevada State Gaming Control Board said that it will not look into a criminal investigation regarding the blackout that cut short last week's UNLV-Wisconsin football game.
The Badgers were up 27-7 in the fourth quarter with only 7:41 left in the game when a power outage hit the stadium, forcing officials the call the game early and declare Wisconsin the winner.
Wisconsin was anywhere from a three-to-seven point favorite, but all bets were refunded because most sports books require at least 55 minutes to be completed.
A spokesman for Nevada Power Co. said a splice failure in a cable caused the blackout, not an automobile accident, as UNLV police reported.
Bettors, suspicious that the power outage was a way for the bookmakers to wash their hands of the bets, have been calling the Gaming Control Board, asking whether an investigating is being conducted.
Gaming Control Board member Scott Scherer told the Associated Press that an investigation will be conducted if substantial evidence comes forward.
"As far as the information that we have, it was purely an accident and we don't start investigations based on rumors,'' he said. "If solid evidence comes forth to show that this is something other than an accident, then we certainly would look into it.”
Ryder Cup - A Global Betting Event
Nearly two weeks away, bookmakers and punters alike are gearing up for professional golf's Ryder Cup, which is expected to garner global attention both on the golf course and in betting shops.
Most bookmakers have installed the U.S. squad as favorites to defend the title it won in 1999 in Boston. The Americans are 4/7 favorites, while the European team is sitting at 15/8 odds by most bookmakers.
Tiger Woods will be joined by fan favorites David Duval, Davis Love III, and Phil Mickelson representing the Stars and Stripes. The European side will be led by Darin Clarke, Sergio Garcia, and Colin Montgomery.
First Week of NFL Action Good for Terrestrial Books
The numbers aren't out yet, but the Las Vegas Review Journal reported that many Vegas Strip sports books were overly pleased with the results of betting action and the outcome of games from the first weekend of the NFL season that concluded on Monday with the Pittsburgh Steelers getting stomped by the defending Super Bowl Champion New England Patriots.
The encouraging results in the NFL were matched with favorable outcomes from the college ranks making the weekend one of the best opening weekends in recent memory for bookmakers.
"It was a good weekend," said Joe Lupo, race and sports director at the Stardust. "Saturday was very good, bordering on excellent, and Sunday was pretty much the same."