Gambling on the Olympics is big business for the host nation of the Summer Games. The British gambling industry expects to handle anywhere from $75 million to $150 million worth of bets during the Olympics, which would more than double the action from the Beijing Games.
Nearly 1 in 8 Brits will place a bet during the Olympics — about 6 million people in all.
Not only can they bet on who will win or who will lose, but the odds makers across the pond have created a long list of quirky propositions such as:
– Would a nude streaker disrupt the opening ceremony?
– Will it rain during the men’s 100-meter race?
– Will the Olympic Village run out of condoms?
– Would a flying saucer appear over the Olympic Stadium (1,000 to 1 odds)?
– What outfit would Queen Elizabeth II chose for the opening ceremony?
Unfortunately the bookies took a killing on that last one because word got out beforehand what the Queen Mum would wear.
Historically, the trend for gambling in England has evolved much like drinking alcohol. It’s gone from being a sin to being a vice to being a socially acceptable leisure activity.
Gambling has kept up with the modern era as well with online activity becoming an increasingly popular way of not only watching and commenting on the Olympics but also for betting on the Olympics.
This online trend has also changed the nature of betting. A huge share of Olympic betting is coming from “in-play” action — wagers made while a game is still in-progress.
Of course, with all this money involved, some have raised concerns about how gambling could possibly affect the outcome of the games and competition itself. Rest assured officials are watching closely and to date, no one has been caught rigging an Olympic event. Yet. . .
So what do you think? Should sports betting be allowed as a socially acceptable leisure activity endorsed by all; even here in the USA?
Should countries get more involved with monitoring this activity?
Or perhaps get in on some of the action to help sponsor and finance their respective teams? (perhaps they already are by collecting tax on earnings)
Do you think this topic is too controversial?
Well, stand by for my next post titled: Should The IOC Have A CBA?
Until next time: Be Good, Do Well, Have Fun and good luck 😉
Fumbled Returns 