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Posted: 15/11/2004

Sporting Options goes under as storm brews

Sporting Options, the UK-based betting exchange firm, has entered into administration with rumours circulating of a scandal ready to break over the use of money in customer accounts.
All betting activity on the site has been suspended, but industry insiders suggest there could potentially be a huge financial black hole at the firm.

And sources have revealed to eGaming Review that the firm may have been trading using funds allocated to customer accounts.

Menzies Corporate Restructuring were appointed as administrators to Sporting Options on 15 November.

And shortly before the site entered into administration it was thrown out of the betting exchange industry’s trade association BETA for breaking its code of practice.

In Canada, most of us can steer clear of this online gambling with respect to betting on sports. We have Pro-Line up here, which allows us to bet on football (props, point spread, winners/losers by 4 points), we have college basketball, hockey (if we ever see it again :(), and baseball. We may also see golf and NASCAR in the future I am sure.

Thanks for posting that, need to keep that kind of info coming.

If you bet online regularily you'd see how much of a rip-off sports select is.
There odds are absolutely terrible and you MUST play parlays (no single game wagering).

Example: a 4 game point-spread parlay on sport select gets you 9-1.
You go to a sportsbook, it would easily be 12 or 13-1.

Actually, if it is standard -110 wagers in a 4-teamer almost every book I know pays 10-1 on that bet. Although I do agree in general with your post, huge liability. Some books will offer special pricing on parlays now and then, but if you know of a reliable book that consistantly offers 12-1 on a 4-teamer please let me know. It is not often I play a parlay, but when I do I'll take every advantage I can.

I think it depends on if the parlay rate is set or not.
For places like Intertops and William Hill, there is no set rate for parlays so you just multiply the odds together.

Using the decimal system, if you pick 4 games at 1.9 (which is -110), then you take 1.9^4 (1.9*1.9*1.9*1.9) which equals 13.0321.

So $10 X 13.0321 = $130.30 which is 12 to 1

This will be off a little bit of course because sometimes you get odds that are not 1.90. For example, this Sunday Night game is Green Bay -3 at 1.86 on William Hill.

This is my parley for sunday, see what you think :)

New Orleans +4 1.9
Pittsburgh -4 1.9
Buffalo +1 1.9
San Diego -4 1.9

All 1.9 pays $130.30 for $10 (as stated above)

You can see the coupon here.




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