Sumo Wresting & Betting

When browsing the BBC website earlier today, along with the top story that Paul the pyschic octopus has predicted that Spain will beat Germany, I noticed an intriguing report on a new betting scandal in Japanese Sumo Wrestling.

It appears that a number of wrestlers and trainers have admitted to illegal betting on baseball and other sports, which is kicking up quite a storm. This is because Sumo Wresting is a highly respected sport in Japan with certain standards expected of competitors. Illegal betting and subsequent links with Japanese gangsters is not what the followers of this sport expect.  I imagine it to be the equivalent of hearing about a Croquet or Crown Green Bowling drugs scandal!

Betting controversy and Sumo Wrestling is not new though and anyone who read the fascinating analysis on this sport as undertaken by the authors of cult book ‘Freakonomics’ will testify. In the book through data mining they were able to demonstrate what they believe to be the existence of cheating among sumo wrestlers. Allow me to quote from Wikipedia…

“In a sumo tournament, all wrestlers in the top division compete in 15 matches and face demotion if they do not win at least eight of them. The sumo community is very close-knit, and the wrestlers at the top levels tend to know each other well. The authors looked at the final match, and considered the case of a wrestler with seven wins, seven losses, and one fight to go, fighting against an 8-6 wrestler. Statistically, the 7-7 wrestler should have a slightly below even chance, since the 8-6 wrestler is slightly better.

However, the 7-7 wrestler actually wins around 80% of the time. Levitt uses this statistic and other data gleaned from sumo wrestling matches, along with the effect that allegations of corruption have on match results, to conclude that those who already have 8 wins collude with those who are 7-7 and let them win, since they have already secured their position for the following tournament.”

Therefore be warned, any of you contemplating a bet on Sumo Wrestling anytime in the near future!

Sumo Wresting & Betting

When browsing the BBC website earlier today, along with the top story that Paul the pyschic octopus has predicted that Spain will beat Germany, I noticed an intriguing report on a new betting scandal in Japanese Sumo Wrestling.

It appears that a number of wrestlers and trainers have admitted to illegal betting on baseball and other sports, which is kicking up quite a storm. This is because Sumo Wresting is a highly respected sport in Japan with certain standards expected of competitors. Illegal betting and subsequent links with Japanese gangsters is not what the followers of this sport expect.  I imagine it to be the equivalent of hearing about a Croquet or Crown Green Bowling drugs scandal!

Betting controversy and Sumo Wrestling is not new though and anyone who read the fascinating analysis on this sport as undertaken by the authors of cult book ‘Freakonomics’ will testify. In the book through data mining they were able to demonstrate what they believe to be the existence of cheating among sumo wrestlers. Allow me to quote from Wikipedia…

“In a sumo tournament, all wrestlers in the top division compete in 15 matches and face demotion if they do not win at least eight of them. The sumo community is very close-knit, and the wrestlers at the top levels tend to know each other well. The authors looked at the final match, and considered the case of a wrestler with seven wins, seven losses, and one fight to go, fighting against an 8-6 wrestler. Statistically, the 7-7 wrestler should have a slightly below even chance, since the 8-6 wrestler is slightly better.

However, the 7-7 wrestler actually wins around 80% of the time. Levitt uses this statistic and other data gleaned from sumo wrestling matches, along with the effect that allegations of corruption have on match results, to conclude that those who already have 8 wins collude with those who are 7-7 and let them win, since they have already secured their position for the following tournament.”

Therefore be warned, any of you contemplating a bet on Sumo Wrestling anytime in the near future!

Have you ever made a drunken bet like this?

Ever woken up hungover to find you’d wagered a few quid on something daft like Wayne Rooney to win pipesmoker of the year? Or maybe even something more ridiculous such as England to win the World Cup??!

Well if you have, I hope the damage wasn’t as bad as this guy who must have had one hell of a hangover the next day. Stephen Perkins was banned from his job as broker after drunkenly gambling trading on the price of oil at 2AM. His inebriated trades were so large that they accounted for nearly 70% of the day’s trading volume, pushing oil to a record high at the time.

I know one online poker player who earned a pretty penny by only playing around midnight at weekends – when British guys came home from the pub and fancied a few drunken hands of poker.

Mike always talks with amazement about how in Australia they have betting terminals in pubs, allowing you to risk a fortune on some drunken bet. Its small wonder there is such a gambling problem down under!

The bookies always welcome these sort of mindless & drunken wagers with open arms. I would imagine Friday and Saturday night are peak betting times for markets such as Paddy Power’s Elvis World Cup (I kid you not). Betting for fun or interest might seem harmless if using small stakes, but more often than not its money down the drain, especially when indulging in a few light refreshments.

Alcohol and betting have always been uneasy bedfellows, so if in doubt dont bet!