Here are 3 thumpings – Georgia shutting out Vanderbilt 43-zip, USC taking it to California 48-14, and Kansas State ripping Kansas 59-7 after leading 52-zip after 3 quarters.
Great home victories included 7th-ranked Auburn outlasting 12th-ranked Arkansas, 65-43, in the game of the week that featured offense and no defense, 4th-ranked TCU over BYU 31-3, 6th-ranked Oklahoma over Iowa State 52-zip, and 13th-ranked Michigan State over Illinois 26-6.
Air Force, which debuted in the Top 25 last week at 23rd, took a flying leap back out of the poll this week after being beaten by unranked San Diego State, 27-25. Wisconsin would rather smash you in the mouth, and they did.
South Carolina just did not play the second half, and failed to finish off its opponent.
The loss was Nevada’s 6th straight at Hawaii. That’s tough luck, for Florida, not Mississippi State.
Besides Ohio State, Nebraska and Nevada, 4 other ranked teams lost – South Carolina, Florida, Air Force and Oregon State.
Ohio State was ranked 6th nationally in scoring offense, and 6th in scoring defense. 15-ranked Stanford were idle this week.
That said, the Huskies have a real headliner in Jake Locker, who would be winning more games if his receivers would stop dropping passes, and his defensive teammates would start playing defense.
Hawaii also has a high-scoring offense, averaging 39 a game. The Cornhuskers (5-0), who hosted Texas, are sorry they ever showed up. 1-ranked Ohio State, and 3 of the 7 saw their unbeaten seasons ‘and national championship dreams – all but vanish before their eyes.
Locker threw a career-high 5 touchdown passes, including 2 to Jermaine Kearse in a double-overtime game, and Oregon State’s 2-point conversion attempt for a win in the 2nd overtime period fell incomplete as the Huskies beat the Beavers 35-34.
Both Oregon State and Washington are now 3-3 on the season.
The fact that Nebraska was ranked 9th in scoring offense nationally, 7th in total offense, 4th in scoring defense and 12th in total defense, did not mean squat. Locker also picked up 60 yards on 12 carries (5.0 ypc), and Chris Polk added another 105 yards. The Longhorns, who had previously lost to UCLA and Oklahoma, led 17-3 at the half and won, 20-13.
Now there are only 10 major schools that are unbeaten going into the 8th weekend of the season – TCU, Auburn, LSU and Michigan State all are 7-0, and Oregon, Boise State, Oklahoma, Utah, Oklahoma State and Missouri are all 6-0.
Nevada was the third unbeaten team to fall. Ohio State, favored by 4 on the road, failed to cover by 18 points. 1 Ohio State and gave Ohio State a most unfriendly 31-18 whipping while completely dominating the Buckeyes, who came in with their privileged reputation and a 6-0 record.
In a side note, Auburn barely led Arkansas 37-35 after the 3rd quarter, but the Tigers outscored the Razorbacks 28-8 on some miscues in the last quarter to go on and win 65-43. The Gators offense has just collapsed; two weeks ago they only scored 6 on Alabama, and now they have just dropped out of the Top 25 with a 4-3 record following consecutive losses to Alabama, LSU and Mississippi State.
Here are 4 upsets – East Carolina, ranked 71st, knocking off North Carolina State 33-27 in overtime, 189th-ranked Eastern Michigan beating 124th-ranked Ball State 41-38 in overtime, 161st-ranked Rice nipping 77th-ranked Houston 34-31, and 159th-ranked UAB (Alabama-Birmingham) upsetting 112th-ranked UTEP (Texas-El Paso), 21-6.
Eight other Top 25 teams had great wins to keep moving onward and upward.
Washington needed a defensive stop at a critical moment and finally got one when the conversion pass to Joe Halahuni went through his hands as he was hit by linebacker Cort Dennison.
The seventh team to miss victory this week was the 24th-ranked Oregon State Beavers, who were beginning to look for real. The Warriors shut down Nevada’s 7th-ranked scoring offense (43 points per game) while winning, 27-21, after leading 17-zip at the half.
Six other top-ranked teams had much less impressive victories. The Air Force Falcons will have to regroup for some strategy.
The Badgers led 21-3 at the half, and the Buckeyes were wondering if they shouldn’t get on the bus home at halftime. The Warriors (now 5-2) had more total offensive yards and passing yards. 5-ranked Nebraska fared no better. It is a new order of virtual parity at the top in college football.
Florida, ranked 22nd, hosted Mississippi State, rated 33rd by Sagarin, and found itself on the short end of a 10-7 stick. Kearse had 9 catches for 146 yards and his school-record 4 touchdowns came on 16, 45, 17 and 21-yard passes.
Earlier in the season, then No. Cornhusker coach Bo Pelini can obsess over those stats all he wants, it doesn’t matter, Nebraska, favored by 10, failed to cover by 18, exactly like Ohio State.
They included really good road wins by 3rd-ranked Boise State over San Jose State 48-zip, 11th-ranked Utah over Wyoming 30-6, 20th-ranked Oklahoma State over Texas Tech 34-17, and 21st-ranked Missouri over Texas A&M 30-9.
The South Carolina Gamecocks, who had just upset Alabama to rise to 10th in the AP Poll, led unranked Kentucky 28-10 at the half, but were outscored 21-zip by the Wildcats in the second half as Kentucky held on to upend the Gamecocks, 31-28.
Seven other unranked teams deserve a mention.
No. The defeat was so bad that the Buckeyes dropped to 11th in the weekly AP Poll.
The Mississippi State loss meant that Florida coach Urban Meyer suffered 3 consecutive losses for the first time in his coaching career. 1 Alabama put a 31-6 thrashing on the Florida Gators, who won the national championship two years ago and four years ago.
All bets are off now – the national championship race is wide open, and apparently getting wider by the week.
Also, 16th-ranked Florida State’s narrow 24-19 effort hosting 110th-ranked Boston College, 17th-ranked Arizona’s weak 24-7 win at Washington State, and 25th-ranked West Virginia’s 20-6 escape against 100th-ranked South Florida.
No. Someone forgot to tell Wisconsin’s players, who could give a flip about the Buckeyes stats. Whatever happened to that thing called defense?
Locker was 21-of-35 passing (60%) for 286 yards and the 5 TD strikes. Hawaii leads the nation in passing offense.
The best realization of this is that it is impossible to just pencil in Alabama, Florida or Ohio State as the No. The voters will now be embarrassed to put their undeserving, favorite team on top of the football polls. The Beavers paid a visit to the up-again, down-again Washington Huskies. Apparently, when there is no Tim Tebow, there is suddenly no Florida. The Aztecs, who led 10-6 at the half, made it official with the final score. 2-ranked Oregon and No. 1 Alabama last week, and this week the Wisconsin Badgers hosted No. Imagine for a moment a SEC game with 108 total points scored. The 19th-ranked Wolf Pack brought their perfect 6-0 mark to Hawaii, the land of pineapples and passes. There is, of course, no truth to the rumor that Warrior players throw pineapples as well as passes, they just have a lot of very big, talented Samoan athletes on the island.
The college football world was turned upside down this week as 7 Top 25 teams were upset, including No. They had won 6 in a row against Washington, and had won 7 of their past 9 Pac-10 road games.
South Carolina knocked off then No. 1 team.. They included 8th-ranked Alabama’s really lame win at home over 79th-ranked Mississippi 23-10, 9th-ranked LSU’s pathetic triumph over 149th-ranked, AA McNeese State 32-10, and 15th-ranked Iowa’s 38-28 victory over Michigan.
Throw out almost everything you thought you knew for sure. The good old boys from the south have choked on their chewing tobacco
The 25-year-old was suspended by Nippon Professional Baseball (NPB), the country’s professional baseball governing body, in November for illegally betting on games, which included Major League Baseball and Japanese high school games.
Kasahara is said to have aided a former restaurant operator’s betting scheme by collecting money from two other former Giants players, and gambled a total of 1.2 million yen ($11,838.99) himself between September 2014 and August 2015, the report said.
($1 = 101.3600 yen)
Former Yomiuri Giants pitcher Shoki Kasahara has admitted to his involvement in illegal gambling at a hearing held at the Tokyo District Court on Monday, Kyodo news agency reported.
(Reporting by Nivedita Shankar in Bengaluru; Editing by Amlan Chakraborty)
The NPB which prohibits professional players from betting on games, handed a one-year ban on another Giants pitcher Kyosuke Takagi for illegal betting in March.
Another smart thing about college stadium financing is that they are renovating existing structures, rather than building new facilities:
In addition, most universities expand, renovate or improve existing infrastructure rather than develop new facilities that can reduce costs and complexity. As universities enter new conferences, competition for top recruits stiffens, inspiring additional investment in athletic facilities, particularly for football.
For instance, Texas A&M (Aaa/AA+/AA+) pledged revenue provided 13.6x pro forma maximum annual debt service coverage [for the stadium financing]. This differs from professional stadiums that generally rely on the revenues generated by games to repay bondholders. Investors have no exposure to stadium revenues; rather, overall operations of the university provide security and source of repayment.
This is a strong source of repayment for college stadium bonds.
Gerardes says that the investment is hoped to improve the fan experience, increase university brand recognition, meet rising student demand and spur financial support from alumni and donors.
[C]olleges and universities have been undergoing significant athletic conference realignment to increase visibility and capture additional revenue from lucrative media contracts for the major football conferences. Lastly, perhaps the biggest difference in college stadium infrastructure financings is the inextricable tie of the sports program to the university (i.e., no relocation risk).
College football stadiums are undergoing upgrades and renovations. Wells Fargo senior analyst Randy Gerardes writes that this is a response to recent conference realignments and increased media revenues:
Improvements to college stadiums are typically funded by tax-exempt bond offerings by the college or university, which uses its own credit to finance the project. Here is what Gerardes says about the college stadium funding model:. This type of structure allows universities the ability to leverage their credit to develop athletic facilities
Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns. “Thus, the bookies love and cherish the squares.”
Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005). Slim underdogs regularly win outright.
So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. “There will be more discrepancy in the numbers at different sports books. To be a successful sports bettor you need to operate with a clear mind.”
Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”
5. Avoid Chasing Bets – “Don’t do it! There is no worse way to mismanage your bankroll than to chase your bets after a losing day,” cautions Moseman on the dangerous practice of trying to immediately win back your losses. So underdogs tend to be slightly undervalued – except by the sharps.”
Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined. “The key to proper money management is to be sure not to bet more than you can afford to lose.” .
“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises.
And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”
8. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”
Certainly not back into the pockets of the average bettor. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. If you like an underdog, it is best to get your bet in as late as possible, where there is heavy action from squares on favorites. Giving 11 to 10 odds is almost always the cheapest price you can give.”
“A sharp or smart has a plan of what he wants to do,” says Vaccaro, the director of sports operations and public relations at Lucky’s Race and Sports Book in Las Vegas. The only locks that exist are those that need keys to open them.”
“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says.
“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,’” Konik says. If North Texas is his best bet on a Saturday then that is his bet.
“A square is the average, unsophisticated gambler whose decision making is based on hunches, media manipulation, or spurious systems that cannot overcome the bookmaker’s inherent mathematical advantage,” Konik explains.
1. The NFL, for example, will have very similar numbers at most of the betting shops you visit. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game.
But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football.
Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks.
“There is probably no better bet in sports than playing an underdog at home,” Moseman says. There are almost an infinite number of scenarios that can happen in a single football game. On college you will be able to find different lines at different sports books. If you want advice about sports betting, find someone who has a successful track record. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty.
7. Chasing losses is the fastest way to the poor house.”
However, Konik adds that there are some bettors who actually know how to beat the bookies. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. “Teams play inspired ball at home. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. “Squares usually bet later in the week and they tend to pick the favorites. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”
Moseman agrees and especially likes home underdogs.
“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”
While these tips don’t guarantee you’re going to win, hopefully they can make you a little less square and a little more sharp in your picks this season. Otherwise, you’re better off doing your own research.”
Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.
So, how much are we gambling each football season?
And where does all that money go?
“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says. Locks Don’t Exist – “Anyone who has watched sports for about a month realizes that the difference between winning and losing, especially against the spread, can be infinitesimally small,” Gordon says. “If you become an expert on a smaller conference like the WAC, you have a good chance to beat the house because sports book operators do not have the time or resources to follow this conference the way you can. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. “He is not jaded by teams and does not bet with his heart.
So, how much should you bet a game?
“The talking heads on TV know nothing about sports betting,” says Sevransky. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”
Another difference between squares and sharps is how they approach betting on game day.
9. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”
6. In fact, sports bettors must pick 52.4 percent winners just to break even.”
3. “If you listen to their advice, you are sure to lose. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. Thanks to the juice, the only one who profits in this scenario is the bookmaker. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. Not all games work according to this formula, but it is usually a good rule of thumb.”
Also, it’s probably a good idea to disregard advice from the myriad of ex-players and football experts you see on television each week. Oakland comes to mind) seem like the Super Bowl. “When you’re in a good rhythm and winning, you want to increase your bets.
10. Avoid Exotic Bets – “For very skilled handicappers, with a proven track record, there can, at least in theory, be value in betting parlays,” says Gordon on the type of bet that combines two or more individual wagers. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. The payout is just the same as far as he is concerned. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with DocSports.com for nearly 40 years.
But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.
Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.
“A square or recreational player might have a vague plan, but after two Corona’s he will definitely run to the window and make a hasty decision on the USC-Notre Dame game because he wants to be involved in the party atmosphere,” Vaccaro says. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”
. It also allows us some time for reflection on what’s been a hectic and, at times, dramatic first half. With a total of 162 games for each team per season, the MLB provides some of the best long term betting prospects for any statistics based bettors…. By arniehi in Baseball
MLB – Midseason Predictions
11 July 2016 17:01
This week sees the All Star Break and with that, marks what’s around the half way period for the MLB Season
“The SFYFL is taking a hard stand on gambling, recruiting, paying kids to play and big hits on players.”
The website says the sole purpose of the league “is to benefit children” and instill wholesome values.
Authorities said they seized nearly $40,000 from a drop safe at one of the storefronts and took another $20,000 from Bivins’ home. Authorities said they had no evidence that the players were aware of the bets.
Perhaps more disturbing than the gambling operation was the extensive criminal background of six coaches, authorities said.. They believe `Coach B’ was skimming off the top of the bets.
DEERFIELD BEACH, Fla. A phone message and email sent to one of the other suspect’s attorneys was not immediately returned Tuesday.
According to the league’s website, it has 22 clubs and 6,000 players, ranging from pee wee to teens, in three counties. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
Deerfield Beach City officials ramped up their background screening process for youth coaches about 18-months ago when authorities told them about the investigation, but each city is in charge of setting its own ordinances and they vary widely on the issue. Eight others were also charged Monday with bookmaking and some were charged with keeping a gambling house.
“It’s about kids being exploited unfortunately by greedy parents and greedy grown-ups and coaches who were basically nothing more than criminals,” Sheriff Al Lamberti said.
Bivins was the president of the Fort Lauderdale Hurricanes, one of the most successful teams, and oversaw the coaches. Frank Ballante said.
Coaches routinely met before games and set point spreads, investigators said, but they do not believe the games were thrown or that coaches encouraged players not to complete a touchdown in order to control the outcome. But behind what appeared to be a closet door was a narrow hallways leading to a seedy gambling room where Bivins and others took bets on professional, college and youth games behind conspicuously dark tinted windows.
“(Bivins has) been to Florida state prison. Many of the children come from impoverished neighborhoods.
Bold print on the league’s website warns that anyone taking bets on games will be asked to leave. Authorities later uncovered the stakes on pee wee games were high, with more than $100,000 wagered on the youth football championship.
Authorities said the suspects have direct ties to the South Florida Youth Football League and several have extensive criminal histories. Bivins has been convicted of cocaine possession, grand theft auto, and marijuana possession with intent to sell.
Emails and phone calls to several officers in the league were not immediately returned Tuesday.
An affidavit claims Bivins ran a fake barbershop, complete with barber stations and vending machines, as a front for a gambling house.
An informant placed numerous bets at Red Carpet Kutz Barbershop and another gambling front, Showtime Sports, during the investigation, according to the affidavit.
It’s unclear if Bivins has an attorney. He’s out and he’s coaching youth football,” Lt. Authorities said Tuesday they uncovered a massive gambling operation targeting youth football games in South Florida, leading them to arrest nine men, including several coaches with extensive criminal backgrounds who they say exploited kids to turn a profit.
After months of surveillance, digging through trash cans and raiding two gambling houses, authorities arrested alleged ringleader Brandon Bivins, known as `Coach B’ in the community, charging him with felony bookmaking and keeping a gambling house. He also interacted with the players, Ballante said.
The 18-month long investigation started when ESPN journalists brought Broward County Sheriff’s officials surveillance video showing parents openly exchanging money in the stands while watching their kids’ tackle football games
It held its first conference in September 2001 in Croatia. This is already the practice in some jurisdictions such as the US, Ireland, the UK, Italy, Colombia, Slovenia, and South Africa, as well as some Australian and Canadian States.”
Yet, no one seems to agree on a universal definition of corruption. (T)he individual may hoard the stolen objects …”. This demonstrates that no one is above the law and that crime does not pay.
The G-8 asked its Lyon Group of senior experts on transnational crime to recommend ways to fight corruption related to large money flows and money laundering. It skews the level playing-field; it imposes onerous and unpredictable transaction costs; it guarantees extra returns where none should have been had; it encourages the misallocation of economic resources; and it subverts the proper functioning of institutions. In many developing countries and countries in transition, assets confiscated from real and alleged criminals and tax evaders are sold in fake auctions to party hacks, cronies, police officers, tax inspectors, and relatives of prominent politicians at bargain basement prices.
Kleptomaniacs fail to resist or control the impulse to steal, even if they have no use for the booty. They could no more stop thieving than Hitler could stop murdering. Corruption, like other crimes, is probably seriously under-reported and under-penalized.
While Momoh relished things with shiny buttons, people like Sese Seko, Hussein, and Marcos drooled over money. The Slovak daily “Sme” described in scathing detail the newly acquired wealth and lavish lifestyles of formerly impoverished HZDS politicians.
The presumption of innocence must fully apply and due process upheld to prevent self-enrichment and corrupt dealings with confiscated property, including the unethical and unseemly use of the proceeds from the sale of forfeited assets to close gaping holes in strained state and municipal budgets.
At the request of member-governments (such as Bosnia-Herzegovina and Romania) it has prepared detailed country corruption surveys covering both the public and the private sectors. The balances in their bulging bank accounts were of no practical import or intent. Corruption is discussed freely and forgivingly in one place – but concealed shamefully in another. These politicians and bureaucrats “let off steam” by looting.
Moreover, bribing officials is often the unstated policy of multinationals, foreign investors, and expatriates. Information Altering Fees – Backhanders and bribes that subvert the flow of true and complete information within a society or an economic unit (for instance, by selling professional diplomas, certificates, or permits). The provision of a service, information, or goods that, by law, and by right, should not have been provided or divulged. Both institutions are increasingly concerned with poverty reduction through economic growth and development. It outlaws the payment of bribes to foreign officials, political parties, party officials, and political candidates in foreign countries. The ever-heightening mountains of greenbacks in their vaults soothed them, filled them with confidence, regulated their sense of self-worth, and served as a love substitute. In the absence of these, the fight against official avarice and criminality is doomed to failure.
5.. Corruption can be defeated only from the inside, though with plenty of outside help.
5.. Strengthening of institutions: the police, the customs, the courts, the government, its agencies, the tax authorities – under time limited foreign management and supervision.
A few years ago, I proposed a taxonomy of corruption, venality, and graft. This is the case in many countries, including United Kingdom, United States, Germany, France, Hong Kong, Italy, Denmark, Belgium, Austria, Greece, Ireland, New Zealand, Singapore and Switzerland.
Technically and theoretically, assets can be impounded or forfeited and disposed of even in hitherto minor Federal civil offenses (mistakes in fulfilling Medicare or tax return forms)
The most potent remedy against corruption is sunshine – free, accessible, and available information disseminated and probed by an active opposition, uncompromised press, and assertive civic organizations and NGO’s. Since 1997, it has introduced policies regarding misreporting, abuse of IMF funds, monitoring the use of debt relief for poverty reduction, data dissemination, legal and judicial reform, fiscal and monetary transparency, and even internal governance (e.g., financial disclosure by staff members).
By: Sam Vaknin
Even worse, unlike in other criminal proceedings, the burden of proof is on the defendant who has to demonstrate that the source of the funds used to purchase the confiscated or forfeited assets is legal. In Alabama, police seized the home of a senior citizen because her yard was used, without her consent, for drug dealing. But there is no justification for the seizure and sale of property otherwise.
I. It is a process of self-redemption and self-transformation. Macedonia has belatedly passed an anti-money laundering law recently, but failed, yet again, to adopt strict anti-corruption legislation.
The south-eastern Europe Stability Pact sports its own Stability Pact Anti-corruption Initiative (SPAI). Luckily, in countries like Macedonia, it is confined to its rapacious elites: its politicians, managers, university professors, medical doctors, judges, journalists, and top bureaucrats. The police and customs are hopelessly compromised. It is the real transition.
4.. The figure may be 5 to 10 times higher in the tax havens of the United Kingdom.
Yet, “The Economist” reports that the American SEC has brought only three cases against listed companies until 1997. Rich world governments turn a blind eye, even where laws against such practices are extant and strict.
“The actions of individuals, groups, or firms, both in the public and private sectors, to influence the formation of laws, regulations, decrees, and other government policies to their own advantage as a result of the illicit and non-transparent provision of private benefits to public officials.”
These politicos were not only crooks but also kleptomaniacs. The donors ignored this and other recommendations. This often leads to the inclusion of sums from legitimate sources and double counting both of which need to be eliminated.”
The Act applies to all American firms, to all firms – including foreign ones – traded in an American stock exchange, and to bribery on American territory by foreign and American firms alike. According to the Diagnostic and Statistical Manual IV-TR (2000), the bible of psychiatry, kleptomaniacs feel “pleasure, gratification, or relief when committing the theft.” The good book proceeds to say that ” … This often gives rise to cases of double jeopardy.
The IMF made corruption an integral part of its country evaluation process. It is, in other words, without a single redeeming feature, a scourge.
Strangely, this is not how it is perceived by its perpetrators: both the givers and the recipients. Transparency International now publishes a name and shame Bribery Payers Index to complement its 91-country strong Corruption Perceptions Index.
These inconceivable dollops of hard cash and valuables often remain stashed and untouched, moldering in bank accounts and safes in Western banks. He used to sit among these relics of his cupidity, fondling and counting them insatiably.
This abrogation of the principle of dual criminality sometimes leads to serious violations of human and civil rights. The convention has been in force since February 1999 and is only one of many OECD anti-corruption drives, among which are SIGMA (Support for Improvement in Governance and Management in Central and Eastern European countries), ACN (Anti-Corruption Network for Transition Economies in Europe), and FATF (the Financial Action Task Force on Money Laundering).
In his address to the Inter-American Development Bank on March 14, 2002 President Bush promised to “reward nations that root out corruption” within the framework of the Millennium Challenge Account initiative. These hoards are not the megalomaniacal equivalents of savings accounts. The conference was attended by the Czech prime minister, the Mexican president, and the head of the Interpol.
The British firm Bentley-Jennison, who provide Forensic Accounting Services, add:
In Albania, the Chairman of the Albanian Socialist Party, Fatos Nano, was accused by Albanian media of laundering $1 billion through the Albanian government. During closure of premises, the employer must continue to pay workers, thereby avoiding an appeal for constitutional protection.”
The World Bank has appointed in 2001 a Director of Institutional Integrity – a new department that combines the Anti-Corruption and Fraud Investigations Unit and the Office of Business Ethics and Integrity. It casts civil and government institutions in doubt, tarnishes the entire political class, and, thus, endangers the democratic system and the rule of law, property rights included.
Typically, the defendant is notified of the impending forfeiture or confiscation of his or her assets and has recourse to a hearing within the relevant law enforcement agency and also to the courts. The Bank also supports international efforts to reduce corruption by sponsoring conferences and the exchange of information.
6.. Politics is a drab, uninspiring, unintelligent, and, often humiliating business. In France, the Financial Intelligence Unit can freeze funds involved in a reported suspicious transaction by administrative fiat. He was the editor of mental health and Central East Europe categories in The Open Directory and Suite101.
Venezuela has recently reformed its Organic Tax Code to allow for:
Many rich world corporations and wealthy individuals make use of off-shore havens or “special purpose entities” to launder money, make illicit payments, avoid or evade taxes, and conceal assets or liabilities. In many cases the authorities will assume that all of the assets held by the defendant are illegally obtained as he has a “criminal lifestyle”. With them, it stands a chance.
Kleptomania is about acting out. It suspended arrangements with endemically corrupt recipients of IMF financing. Property is confiscated even when the tax assessment is disputed in the courts. Graft amounts to an increase in the marginal tax rate and has pernicious effects on inward investment as well.
In Bulgaria, the assets of tax evaders have recently begun to be confiscated and turned over to the National Revenue Agency and the State Receivables Collection Agency. Venality was an integral part of their psychological makeup.
III. The World Bank estimates that corruption reduces the growth rate of an affected country by 0.5 to 1 percent annually. Britain has persecuted successfully only one of its officials for overseas bribery since 1889. Yet, one rarely comes across graft and venality in daily life. The same requirements of monitoring of clients’ activities and reporting to the authorities apply to credit and financial institutions, venture capital firms, tax advisers, accountants, and notaries.
Erstwhile president of Sierra Leone, Momoh, amassed hundreds of video players and other consumer goods in vast rooms in his mansion. Rather they are of the nature of compulsive collections. Decision Altering (State Capture) Fees – Bribes and promises of bribes which alter decisions or affect them, or which affect the formation of policies, laws, regulations, or decrees beneficial to the bribing entity or person. All rationales crumble in the face of a Mobutu Sese Seko or a Saddam Hussein or a Ferdinand Marcos who absconded with billions of US dollars from the coffers of Zaire, Iraq, and the Philippines, respectively.
2.. It is then down to the defendant to prove otherwise. That the service, information, or goods that are provided or divulged are provided or divulged against a benefit or the promise of a benefit from the recipient and as a result of the receipt of this specific benefit or the promise to receive such benefit. According to Transparency International’s “Global Corruption Report 2001″, corruption has been successfully contained in private banking and the diamond trade, for instance.
Awareness to corruption and graft is growing – though it mostly results in lip service. The proceeds from such sales accrue to the local municipality. The USA has had a comprehensive “Foreign Corrupt Practices Act” since 1977.
5.. Others have swimming pools replete with wine bars.
3.. The OSCE has responded with its own initiative, in collaboration with the US Congressional Helsinki Commission.
It is widely accepted that corruption retards growth by deterring foreign investment and encouraging brain drain. Others do it in order to reward their nearest and dearest or to maintain a lavish lifestyle when their political lives are over.
In most countries, including the United Kingdom, the United States, Austria, Germany, Indonesia, Macedonia, and Ireland, assets can be impounded, confiscated, frozen, forfeited, and even sold prior to and without any criminal conviction. Concessions, licenses, permits, assets privatized, tenders awarded are all subject to reallocation fees. If the defendant is judged to have a criminal lifestyle then it will be assumed that physical assets, such as properties and motor vehicles, have been acquired through the use of criminal funds and it will be necessary to present evidence to contradict this.
But these mundane reasons fail to explain why some officeholders go on a rampage and binge on endless quantities of lucre.
2.. A similar law has now been adopted by Britain.
International treaties (for instance, the 1959 European Convention on Mutual Legal Assistance in Criminal Matters, the 1990 Convention of the Council of Europe on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime (ETS 141), and The U.N.
4.. They believe that corruption helps facilitate the flow and exchange of goods and services in hopelessly clogged and dysfunctional systems and markets (corruption and the informal economy “get things done” and “keep people employed”); that it serves as an organizing principle where chaos reins and institutions are in their early formative stages; that it supplements income and thus helps the state employ qualified and skilled personnel; and that it preserves peace and harmony by financing networks of cronyism, nepotism, and patronage.
” (P)re-judgment enforcement measures (to) include closure of premises for up to ten days and confiscation of merchandise. What to Do? What is Being Done?
The abuse of asset confiscation and forfeiture statutes by governments, law enforcement agencies, and political appointees and cronies throughout the world is well-documented.
To eradicate corruption, one must tackle both giver and taker.
In New-York City, the police confiscated a restaurant because one of its regular patrons was an alleged drug dealer. I suggested this cumulative definition:
The UNDP estimated, in 1997, that, even in rich, industrialized, countries, 15% of all firms had to pay bribes. In the Netherlands bribery is tax deductible. The otherwise opaque Asia Pacific Economic Cooperation (APEC) forum is now championing transparency and good governance. Many of them believe that it is inevitable if one is to expedite matters or secure a beneficial outcome. It demolishes the tenuous trust between citizen and state. It is a compensatory act. The cooperation of good people with trustworthy institutions is indispensable. His defense team accuses the US authorities of “selective prosecution”.
In the United States, according to The Civil Asset Forfeiture Reform Act of 2000 (HR 1658), the assets of suspects under investigation and of criminals convicted of a variety of more than 400 minor and major offenses (from soliciting a prostitute to gambling and from narcotics charges to corruption and tax evasion) are often confiscated and forfeited (“in personam, or value-based confiscation”).
Finally, in many states in the United States, “community responsibility” statutes require of owners of legal businesses to “abate crime” by openly fighting it themselves. The Bank helps countries to fight corruption by providing them with technical assistance, educational programs, and lending.
“We are pursuing the assets of those involved in a wide range of crime including drug dealing, people trafficking, fraud, extortion, smuggling, control of prostitution, counterfeiting, benefit fraud, tax evasion and environmental crimes such as illegal dumping of waste and illegal fishing.” (!)
Drug dealing and illegal fishing in the same sentence. Massive investments in education of the public and of state officials are required.
We can classify corrupt and venal behaviors according to their outcomes:
The UK’s Assets Recovery Agency (ARA) that is in charge of enforcing the Proceeds of Crime Act 2002, had this chilling statement to make on May 24, 2007:
That the assets of suspects in grave crimes and corruption should be frozen or “disrupted” until they are convicted or exonerated by the courts – having exhausted their appeals – is understandable and in accordance with the Vienna Convention. Hitler could have used it to ask the United Kingdom’s Assets Recovery Agency (ARA) to confiscate the property of refugee Jews who committed “crimes” by infringing on the infamous Nuremberg race laws.
Note – The Psychology of Corruption
“In some cases the defendants will even have their assets seized at the start of an investigation, before any charges have been considered. It depletes the affected country’s endowments – both natural and acquired. They rob the state and coerce businessmen to grease their palms because it makes them feel better, it helps them to repress their mounting fears and frustrations, and to restore their psychodynamic equilibrium.
History shows that all effective programs shared these common elements:
Corruption is rife and all pervasive, though many allegations are nothing but political mud-slinging. But they do fulfill a psychological need.
There is also what the World Bank calls “State Capture” defined thus:
4.. Pavel Borodin, the former chief of Kremlin Property, decided not appeal his money laundering conviction in a Swiss court.
Elsewhere, there are some other worrying developments:
When the process of asset confiscation or asset forfeiture is initiated, banking secrecy is automatically lifted and the government indemnifies the banks for any damage they may suffer for disclosing confidential information about their clients’ accounts.
In a survey it conducted in February 2002 of 82 companies in which it invests, “Friends, Ivory, and Sime” found that only a quarter had clear anti-corruption management and accountability systems in place.
“The impetus for this prosecution comes from allegations made by the Kuchma regime, which itself is corrupt and dedicated to using undemocratic and repressive methods to stifle political opposition … It has even set up a multilingual hotline for whistleblowers.
Under the influence of the post-September 11 United States and the FATF (Financial Action Task Force on Money Laundering), Canada, Australia, the United Kingdom, Greece, South Korea, and Russia have similar asset recovery and money laundering laws in place. In both jurisdictions, the fast track freezing of assets has proven to be a more than adequate measure to cope with organized crime and venality.
Only offshore tax havens, such as Andorra, Antigua, Aruba, the British Virgin Islands, Guernsey, Monaco, the Netherlands Antilles, Samoa, St. Vincent, the US Virgin Islands, and Vanuatu still resist the pressure to join in the efforts to trace and seize suspects’ assets and bank accounts in the absence of a conviction or even charges.
1.. These measures will be applied in addition to the attachment or sequestration of personal property and the prohibition against alienation or encumbrance of realty. That the withholding or the provision of said service, information, or goods are in the power of the withholder or the provider to withhold or to provide AND That the withholding or the provision of said service, information, or goods constitute an integral and substantial part of the authority or the function of the withholder or the provider. As electricity supply was intermittent at best, his was a curious choice. It involves enormous stress and unceasing conflict. It leads to the misallocation of economic resources and distorts competition. In many new countries (in Asia, Africa, and Eastern Europe) the very concepts of “private” versus “public” property are fuzzy and impermissible behaviors are not clearly demarcated. It is also risky and rather arbitrary. Politicians with mental health disorders (for instance, narcissists or psychopaths) react by decompensation. More than 1200 delegates participated in the 10th International Anti-Corruption Conference in Prague last year.
3.. That the service, information, or goods that are withheld are withheld because no benefit was provided or promised by the recipient. According to Swiss authorities, more than $40 billion are held by Russians in its banking system alone.
3.. Some of them now reside in refurbished castles. When the defendant fails to furnish such evidence conclusively and convincingly, or if he has left the United States or had died, the assets are sold at an auction and the proceeds usually revert to various law enforcement agencies, to the government’s budget, or to good social causes and programs. The conditioning of international aid, credits, and investments on a monitored reduction in corruption levels. In Maryland, the police confiscated a family’s home and converted it into a retreat for its officers, having mailed one of the occupants a package of marijuana.
Moreover, The moral authority of those who preach against corruption in poor countries – the officials of the IMF, the World Bank, the EU, the OECD – is strained by their ostentatious lifestyle, conspicuous consumption, and “pragmatic” morality.
According to a brief written by Jack Smith, Mark Pieth, and Guillermo Jorge at the Basel Institute on Governance, International Centre for Asset Recovery:
Sam Vaknin ( samvak.tripod.com ) is the author of Malignant Self Love – Narcissism Revisited and After the Rain – How the West Lost the East as well as many other books and ebooks about topics in psychology, relationships, philosophy, economics, and international affairs.
He served as a columnist for Central Europe Review, Global Politician, PopMatters, eBookWeb , and Bellaonline, and as a United Press International (UPI) Senior Business Correspondent.
They are quoted by Radio Free Europe as saying:
In Australia, Austria, Ireland, Hong-Kong, New Zealand, Singapore, United Kingdom, South Africa, United States and the Netherlands alleged and suspected criminals, their family members, friends, employees, and partners can be stripped of their assets even for crimes they have committed in other countries and even if they have merely made use of revenues obtained from illicit activities (this is called “in rem, or property-based confiscation”). There are no false detentions (as in Russia), spurious traffic tickets (as in Latin America), or widespread stealthy payments for public goods and services (as in Africa).. Income Supplement – Corrupt actions whose sole outcome is the supplementing of the income of the provider without affecting the “real world” in any manner. Together with the EBRD, it publishes a corruption survey of 3000 firms in 22 transition countries (BEEPS – Business Environment and Enterprise Performance Survey). The US Department of Justice brought another 30 cases. The figure rises to 40% in Asia and 60% in Russia.
1.. Convention against Corruption 2003- UNCAC) and European Union Directives (e.g., 2001/97/EC) allow the seizure and confiscation of the assets and “unexplained wealth” of criminals and suspects globally, even if their alleged or proven crime does not constitute an offense where they own property or have bank accounts. Liberalization and deregulation of the economy. They serve no purpose, either political or economic. The Agency cannot, however, confiscate single-dwelling houses, bank accounts up to 250 leva of one member of the family, salary or pension up to 250 leva a month, social care, and alimony, support money or allowances. Abolition of red tape, licensing, protectionism, capital controls, monopolies, discretionary, non-public, procurement. But this only makes them more culpable and dangerous.
“Article 54(1)(c) of the UNCAC recommends that states parties establish non-criminal systems of confiscation, which have several advantages for recovery actions: the standard of evidence is lower (“preponderance of the evidence” rather than “beyond a reasonable doubt”); they are not subject to some of the more restrictive traditional safeguards of international cooperation such as the offense for which the defendant is accused has to be a crime in the receiving state (dual criminality); and it opens more formal avenues for negotiation and settlements. They merely catered to their psychopathology.
The defendant’s bank accounts will also be scanned for evidence of spending and any expenditure on unidentified assets (and in some cases identified assets) is also likely to be included as alleged criminal benefit. The Facts
Anti-corruption projects are an integral part of every Country Assistance Strategy (CAS). government”.
Hence also the involvement of the World Bank and the IMF in fighting corruption. The withholding of a service, information, or goods that, by law, and by right, should have been provided or divulged. The structural roots of corruption should be tackled rather than merely its symptoms.
Most politicians bend the laws of the land and steal money or solicit bribes because they need the funds to support networks of patronage. The persecution of corrupt, high-profile, public figures, multinationals, and institutions (domestic and foreign).
In many countries from South Korea to Greece, lawyer-client privilege is largely waived. The Global Coalition for Africa adopted anti-corruption guidelines in 1999. (other Ukrainian officials) including Kuchma himself and his closest associates, have committed conduct similar to that with which Lazarenko is charged but have not been prosecuted by the U.S. It collaborates closely with Transparency International, for instance.
Corruption runs against the grain of meritocratic capitalism. What amounts to venality in one culture (Sweden) is considered no more than hospitality, or an expression of gratitude, in another (France, or Italy). To appease the critics, the affable Attorney General of Macedonia charged a former Minister of Defense with abuse of duty for allegedly having channeled millions of DM to his relatives during the recent civil war.
This is why both governments and business show a growing commitment to tackling it. The institution of incentives to avoid corruption, such as a higher pay, the fostering of civic pride, “good behavior” bonuses, alternative income and pension plans, and so on.
Corruption can never be entirely eliminated – but it can be restrained and its effects confined. Greater access to information and a public debate intended to foster a “stakeholder society”.
Pavlo Lazarenko, a former Ukrainian prime minister, is detained in San Francisco on money laundering charges. The USA has pioneered global anti-corruption campaigns and is a signatory to the 1996 IAS Inter-American Convention against Corruption, the Council of Europe’s Criminal Law Convention on Corruption, and the OECD’s 1997 anti-bribery convention. The USA and the Netherlands hosted global forums on corruption – as did South Korea in 2003. Acceleration or Facilitation Fees – Corrupt practices whose sole outcome is to accelerate or facilitate decision making, the provision of goods and services or the divulging of information. Reallocation Fees – Benefits paid (mainly to politicians and political decision makers) in order to affect the allocation of economic resources and material wealth or the rights thereto. If he or she can prove “substantial harm” to life and business, the property may be released to be used, though ownership is rarely restored.
Tellingly only 35 countries signed the 1997 OECD “Convention on Combating Bribery of Foreign Public Officials in International Business Transactions” – including four non-OECD members: Chile, Argentina, Bulgaria, and Brazil. In Switzerland, financial institutions are obliged to automatically freeze suspect transactions for a period of five days, subject to the review of an investigative judge. Asset Confiscation and Asset Forfeiture
In 2002, just days before a much-awaited donor conference, the influential International Crisis Group (ICG) recommended to place all funds pledged to Macedonia under the oversight of a “corruption advisor” appointed by the European Commission. The UN is promoting its pet convention against corruption.
As most kleptomaniac politicians are also psychopaths, they rarely feel remorse or fear the consequences of their misdeeds. If they fail to tackle the criminals in their neighborhood, the police can seize and sell their property, including their apartments and cars
It’s a long list, but certainly not exhaustive. While this person may blame the other person for the problems, or claim that he or she has just never met the “right” person, it always takes two to create relationship problems. The person becomes angry, critical or withdrawn if you say no.
We all bring our unhealed wounds with us into our primary relationships, often projecting our parents or other caregivers onto our partner. But, don’t expect to be able to change the person. To begin learning how to love and connect with yourself so that you can connect with others, take advantage of our free Inner Bonding eCourse, receive Free Help, and take our 12-Week eCourse, “The Intimate Relationship Toolbox” – the first two weeks are free!
For more by Margaret Paul, Ph.D., click here.
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It’s not always easy to determine if someone is lying or withholding the truth. If you consistently feel that you are not being told the truth, and you have not been concerned about this in other relationships, then trust your feelings.
A person with few hobbies or interests may be a person who is dependent on others for their sense of self, and may be very demanding in a relationship. is a relationship expert, best-selling author, and co-creator of the powerful Inner Bonding® healing process, recommended by actress Lindsay Wagner and singer Alanis Morissette, and featured on Oprah. This can make for a very challenging relationship.
Over the many years of working with thousands of people looking to find a committed relationship, I’ve discovered numerous red flags that may indicate future problems.
Again, another symptom of narcissism. The person is an older man or woman who has never been married and has been in a series of broken relationships, or has had numerous broken marriages.
13. You sense that the person is not honest.
If the person is in a lot of debt, or tries to “borrow” money from you, beware. The person is financially irresponsible.
He or she tries to make you feel that you are wrong for your feelings or your position. If you have a trust issue in general, then you might want to deal with your issue.
8. Narcissists can be very intense in their pursuit, and many of them have learned exactly what to say to pull you in, such as, “I’ve never felt as connected with anyone else as I feel with you,” or “You are the most amazing person I’ve ever met. The person is judgmental of self and others, talking about self and others in disparaging ways.
9. The person has abandoned his or her children.
4. Sometimes there are extenuating circumstances that prevent a parent from seeing their children, or a parent might come to the painful realization that it is not in the child’s best interest to be involved with them.
14. But, if someone does not care about their children, then they likely have a deep problem with caring about themselves or others. As you read this list, don’t just focus on the other person. If he or she gets upset when you do your own thing, then you need to accept that it is more important to that person to control you than to care about you.
1. Relationships are hard enough without dealing with conflict in these contentious areas.
This is one of the symptoms of narcissism. The person has few interests and hobbies.
This is another symptom of narcissism. The person is possessive and jealous. The person has totally different views and values from yours in important areas such as religion or spirituality, politics, child rearing, health and nutrition.
This is a person who does not love him or herself, and therefore cannot love you. In a relationship, this person will blame you for his or her unhappiness.
There is always a reason that a person has no friends and is not close with family, and the reason might be important for you to know.
These areas can become major battlegrounds. They will change if they want to, but you can’t make them change.
18. The person needs to be acceptable to you as he or she is. The person has no close friends and is not close to family.
3. The person was abused as a child and has not had therapy or done sufficient inner healing work.
Below is a list of some of the red flags I’ve discovered. Narcissists need constant attention and often become very upset and punishing if you don’t give them what they want.
This is another symptom of narcissism. You need to trust your feelings here. Unless this person has had a good amount of therapy and personal growth since the last relationship, a series of broken relationships or marriages may indicate that he or she doesn’t know how to have a loving relationship.
Abandoning one’s children — other than giving up a baby for adoption — may indicate lack of empathy.
For more on relationships, click here.. That’s when you can get into relationship trouble. Very often, when the person I’m working with has moved ahead with the relationship, one of these issues — which might not have seemed huge at the beginning — becomes a major problem leading to the demise of the relationship. He or she gets upset when you do your own thing.
16. Some of these items might not be deal-breakers for you; if the issue is okay with you, then there is no problem. The more you become a person who is loving to yourself and capable of sharing your love with others — rather than a person who is intent on getting love — the more you will attract someone capable of a loving relationship.
Without an openness to learning about themselves and you when there is conflict, there is no way to resolve conflict.
2. The person talks on and on about himself or herself and doesn’t ask much about you, or is uninterested when you do talk about yourself.
A jealous, possessive person is a person who is very insecure. If this person cannot feel pain for your pain and joy for your joy, you will end up feeling very lonely in the relationship. The person takes no responsibility for their own feelings.
If you identify with any of these red flags, then you have inner work to do before you are ready for a committed loving relationship. The person becomes logical and tries to talk you out of your feelings or your experience. I can see that no one has ever really seen you.” For many narcissists, the pursuit is everything and once they have you hooked, they are either off to another pursuit, or they become more and more demanding of you.
People get together at their common level of woundedness — i.e., their common level of self-abandonment. He or she just wants you to keep your attention on them.
7. The person is not open to learning from relationship conflict.
15. The person lacks empathy and compassion.
Again, don’t expect that you can get the person to change. Many of my very kind clients, in trying to help their partner, have been used and burned by loaning money, or by allowing their partner, who is not earning money, to live with them. The person comes on strong at the beginning of the relationship, and tells you exactly what you want to hear.
5. See if you can identify personally with any of these red flags.
6. This is another narcissistic trait: the belief that only his or her feelings and opinions are valid, and that differences pose a threat.
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This person is a victim, blaming others for his or her feelings and circumstances. The person participates in addictions that are unacceptable to you — smoking, drinking, drugs, addictive eating, gambling, TV and so on.
Margaret Paul, Ph.D. If this person is not open to healing their judgmentalness, then this will become an increasingly major issue in your relationship.
11. This person is not interested in you or your feelings
There is zero chance that arbitrageurs will lose money from the particular game. Here is why:
I respect your privacy
Let me tell you my short story about when I finally decided to quit arbitrage betting.
Don’t dig into arbitrage betting before reading of the disadvantages
As I was getting really tired the past few weeks, surfing around looking for sure bets as they are commonly known, I had found a really generous one at a golf event. What a relief! My bets were both accepted and I just had to wait for the game’s result before I got paid. Thus, I think new arbitrageurs can be profitable even today.
By the time arbitrageurs have placed their bets, their profit is guaranteed.
By advantage gambling and investing with real money online, I put my money where my mouth is. Some still make a lot of money. What’s that at Betfair? A third possible outcome you say?
As quickly as possible, I had my Excel spreadsheet calculate the stakes and I submitted my bets concurrently at the two betting operators. Moving money around does not only mean extra commissions with banks, but may also arise suspicions.
And last but not least, you can still lose big chunks of money if you don’t pay close attention when placing your arbitrage bets.
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I myself haven’t spent more than a month taking advantage of fluctuating odds and prices when trying out arbitrage. I could let the specific bets as is and make a profit, unless the games ends a draw. Noticed the word “almost”? That is because you still stand to lose some money. I also write about my success or failure and run a small business.
Two golfers were competing at a golf course, when I noticed the divergence of the betting odds between Betfair and another online bookmaker. Yes, so quick that I had to write it twice for emphasis!
While there are services, which let you know when there is an arbitrage opportunity, they come at a cost. And I have heard that by the time you get to hear of that, it’s already too late.
Many bookmakers do not welcome bettors, who follow an arbitrage betting pattern. You can’t expect the results to even out among the bookmakers. That was almost 10 years ago! So, yes, I am far from the arbitrage expert you were expecting to be talking here. Arbitrage trading is likewise an almost risk-free way of trading any kind of financial instrument. That was my first (and last) bet on a golf game.
I spent the following 5 minutes deciding how to react. Because that is when I was going to lose a hefty amount of my total bankroll! As I am not used to gamble with my money (I know, it sounds peculiar, but by the time gambling becomes an investing, you stop gambling with your money), I reluctantly gave away some of my future profits to cover the losses of a likely draw.
Arbitrage betting is an almost risk-free way of betting on sports. And that is not the worst thing it can happen in arbitrage.
The reason I am talking today about arbitrage, is an email I received from a visitor of my gambling blog. And no, the game did not end a draw but it still was a great lesson for me. A lesson that made me withdraw all of my funds from all the bookmakers, except Betfair. Worst case scenario? To confiscate your money. Keep your capital safe for when you are more experienced.
Of course, my bets now resulted to a loss, no matter the final outcome of the golf game. Much like arbitrage bettors are looking at sports events, arbitrage traders do the same when trading stocks, forex, bonds, commodities, derivatives and other financial instruments, looking at the markets worldwide.
People usually focus on the bright side of any investment, like in arbitrage betting or trading. Because I was going to get paid for sure, I had just bet on both golfers.
But let’s just start from the advantages of arbitrage betting.
If you are going to give arbitrage a shot after all, be very careful and begin betting or trading small. These accounts also need sufficient funding. Usually the ROI of a sure bet is about 1 to 2%, although you may stand lucky occasionally and find a 4 or 5% gold mine!
You must be quick to find arbitrage bets.
You must be super quick to find arbitrage bets. Yes, that’s happened before.
An arbitrageur has to open accounts with several betting or trading companies. And two months later I began sports trading, leaving my arbitrage betting days behind.
These advantages apply as well to arbitrage trading. This funding will probably max out your credit card(s).
Constant money moving. At one point, an account of yours will be full of money, while the rest will be depleted. Their sole worry is just how much money they can make but they neglect the fact that they can also lose money, even in this advertised as risk-free investment.
In my case the guaranteed profit was even better than that!. Yet, my little experience has taught be enough to recommend anyone against arbitrage betting or trading. That is because they have bet on every possible outcome of the game.
Given the infinite number of sports events around the globe, new opportunities for arbitrage betting will constantly arise, especially as more and more people are introduced to betting or gambling in general.
And that is when the emotion of relief converts into panic in a matter of nanoseconds!
Oh, wait. Lessons can come cheap. They are considering a career in arbitrage trading in particular.
People have made a lot of money in arbitrage. As a result, they may limit the stakes they are accepting from you or even forbid you to continue betting with them