Interpol estimates. The Internet also allowed for a rise in the trading of bets between bettors. International gambling on soccer matches has come to resemble a stock market, with constant fluctuations, numerous propositions, and instantaneous arbitrage.
Along with these changes came heightened scrutiny on soccer matches and the valuable information secreted within them. Patrick Jay tells the story of a grizzled old bookie he worked with at Ladbrokes. âIn 1995,â the man liked to say, âif the midfielder for Manchester United broke his leg, five Âpeople would know about it. His wife, his father, his coach, and his trainer. And me.â Now, said the man, if a minor injury afflicts an inconsequential player on an unknown club, âtheyâre betting $10 million on it in that Macau.â
Before the Internet, one of the only ways to bet on soccer was on the 1x2 market. The â1â represents a victory by the home team. The â2â represents an away-Âteam win. The âxâ represents a draw. The 1x2 market does not incorporate a line, or a point spread. Odds are simply established for the chances of each of the three possible outcomes. The final score is irrelevant. When the favorite builds an insurmountable lead in a match, the gambler doesnât have much incentive to watch anymore. Despite this, the 1x2 market remains the most popular form of soccer betting in Europe.
Almost no one in Asia bets 1x2. The majority of Âpeople betting on soccer in the worldâÂand this includes all sizable international match-Âfixing groupsâÂoperate on the Asian handicap and Asian totals markets. Locally known as hang cheng, the Asian handicap market takes the draw out of soccer betting. In essence, you bet on one team to win by an assigned handicap, or on the other team to lose by this same handicap. Bookies establish a point spread that recognizes one team as the favorite. They also assign odds to each bet. The odds place a number value on the chances of a proposition and thus the payout on a winning bet. The Asian totals market, on the other hand, offers the chance to bet on the number of goals scored in a match in aggregate, the over-Âunder. Except for a few minor differences, the Asian handicap and the Asian totals markets are identical to the markets for betting on the NFL or NBA, in the United States.
In the European Union, bookmakers have been known to report their clientele to the police for suspicious betting patterns. You must bet with cash or a debit card, not on credit; that puts a hard cap on what you may wager, as you must possess the required funds to cover potential losses. Betting limits are low in Europe. Some European books ban gamblers who win too much or too frequently.
Betting is different in Asia. You can bet anonymously and on credit, and you can win as much as you like. Some bookies in Asia even welcome match-Âfixers, since the bookies can utilize inside information for themselves, laying off the fixerâs bets on other books while adding in some money of their own. These factors contribute to the popularity of the Asian handicap market. This makes it highly liquid. Because there is greater liquidity in the market, bookies take more bets at higher limits.
Most remarkable about the Asian handicap and totals markets is the speed with which they move while a match is in progress. The sportsbooks alter the odds on a bet, and often the line itself, numerous times during a game. In some matches, depending on the play on the field and the betting action that a bookie is receiving, the odds can change every minute, or more often. This affords the fixer a great opportunity, but only if he can think quickly, and only if he has tight control over his compromised players and referees. A match-Âfixer will routinely sit in the stands at a game, wearing a brightly colored hat, making himself highly visible to his players. He watches his smartphone for the
Along with these changes came heightened scrutiny on soccer matches and the valuable information secreted within them. Patrick Jay tells the story of a grizzled old bookie he worked with at Ladbrokes. âIn 1995,â the man liked to say, âif the midfielder for Manchester United broke his leg, five Âpeople would know about it. His wife, his father, his coach, and his trainer. And me.â Now, said the man, if a minor injury afflicts an inconsequential player on an unknown club, âtheyâre betting $10 million on it in that Macau.â
Before the Internet, one of the only ways to bet on soccer was on the 1x2 market. The â1â represents a victory by the home team. The â2â represents an away-Âteam win. The âxâ represents a draw. The 1x2 market does not incorporate a line, or a point spread. Odds are simply established for the chances of each of the three possible outcomes. The final score is irrelevant. When the favorite builds an insurmountable lead in a match, the gambler doesnât have much incentive to watch anymore. Despite this, the 1x2 market remains the most popular form of soccer betting in Europe.
Almost no one in Asia bets 1x2. The majority of Âpeople betting on soccer in the worldâÂand this includes all sizable international match-Âfixing groupsâÂoperate on the Asian handicap and Asian totals markets. Locally known as hang cheng, the Asian handicap market takes the draw out of soccer betting. In essence, you bet on one team to win by an assigned handicap, or on the other team to lose by this same handicap. Bookies establish a point spread that recognizes one team as the favorite. They also assign odds to each bet. The odds place a number value on the chances of a proposition and thus the payout on a winning bet. The Asian totals market, on the other hand, offers the chance to bet on the number of goals scored in a match in aggregate, the over-Âunder. Except for a few minor differences, the Asian handicap and the Asian totals markets are identical to the markets for betting on the NFL or NBA, in the United States.
In the European Union, bookmakers have been known to report their clientele to the police for suspicious betting patterns. You must bet with cash or a debit card, not on credit; that puts a hard cap on what you may wager, as you must possess the required funds to cover potential losses. Betting limits are low in Europe. Some European books ban gamblers who win too much or too frequently.
Betting is different in Asia. You can bet anonymously and on credit, and you can win as much as you like. Some bookies in Asia even welcome match-Âfixers, since the bookies can utilize inside information for themselves, laying off the fixerâs bets on other books while adding in some money of their own. These factors contribute to the popularity of the Asian handicap market. This makes it highly liquid. Because there is greater liquidity in the market, bookies take more bets at higher limits.
Most remarkable about the Asian handicap and totals markets is the speed with which they move while a match is in progress. The sportsbooks alter the odds on a bet, and often the line itself, numerous times during a game. In some matches, depending on the play on the field and the betting action that a bookie is receiving, the odds can change every minute, or more often. This affords the fixer a great opportunity, but only if he can think quickly, and only if he has tight control over his compromised players and referees. A match-Âfixer will routinely sit in the stands at a game, wearing a brightly colored hat, making himself highly visible to his players. He watches his smartphone for the
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