188BET
Type Private Limited
Founded 2006
Headquarters Douglas, Isle of Man
Area served International
Key people Andy Scott (CEO)
Industry Gaming
Products Bookmaking , Online Casino , Live Casino , Financial Bet
Employees 500+
Parent Cube Limited
Slogan The In-Play Specialist
Website www.188bet.com
Type of site online gambling
Available in Multilingual
188BET is an online sportsbook provider. 188BET is owned by Cube Limited, which is licensed and regulated by the Isle of Man.[1]
Sponsorship
188BET are the principle sponsor of Bolton Wanderers and Wigan Athletic in the Barclays Premier League for the 2009/2010 and 2010/2011 seasons, replacing previous sponsors Reebok and JJB Sports.
They were reported as being the first company to sponsor two football clubs in the Barclays Premier League for the same season.[2][3] However, from 2000 to 2002, Newcastle United and Aston Villa were both sponsored by NTL, the first actual occurrence of two Premier League clubs having the same shirt sponsor.[4][5] The third such occurrence will take place in the 2010/11 season when FxPro will be the principle shirt sponsor for Aston Villa and Fulham.[6][7]
Wigan Athletic chairman Dave Whelan had turned down offers to replace previous sponsor JJB and was going to put his own DW Fitness and Sports name on the Wigan shirt but opted to take a 'very lucrative' package from 188BET instead.[8]
188BET also partner other Premier League teams Aston Villa, Chelsea, Liverpool and Everton.[9][10][11]
Controversy
In October 2009, representatives of the Premier League criticised 188BET and SBOBET for offering live betting on academy football games, maintaining that children and youth activities should not be exposed by international gambling organisations.[12] Both bookmakers subsequently suspended betting on academy games and expressed their intention to seek clarification from the Premier League and the Professional Footballers' Association about which football markets they should be allowed to offer.[13]
Notes
- ^ Licensees on the Isle of Man
- ^ "188BET agrees football shirt deal first". uk.reuters.com. 2009-05-12
- ^ Gibson, Owen (2009-05-12). "Wigan Athletic and Bolton Wanderers agree shirt sponsorship deals with same online betting company". London: www.guardian.co.uk.
- ^ Newcastle kit history
- ^ Villa kit history
- ^ Fulham signs new shirt sponsor
- ^ FxPro Announces Aston Villa Football Club Shirt Sponsorship
- ^ "Wigan chairman Whelan secures lucrative sponsorship deal". www.tribalfootbal.com. Archived from the original on 2009-05-27.
- ^ http://www.188premiership.com/en/?page_id=248 188BET completes summer signings by securing Chelsea FC deal. Accessed 2009-08-15. Archived 2009-08-21.
- ^ Clegg, Jonathan (2009-11-03). "Liverpool Signs Sponsorship Deal With 188BET". blogs.wsj.com.
- ^ [http://www.asiaplate.com/blog.php?blog_id=427 Everton sign deal with 188bet
- ^ White, Duncan (2009-10-17). "Premier League fears corruption after 188bet and SBObet offers betting on teenagers". London: telegraph.co.uk.
- ^ White, Duncan (2009-10-24). "Premier League and PFA pressure forces bookmakers to end betting on youth football". London: telegraph.co.uk.
Links
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Legality of sports betting
In the USA, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a scheme except for in a few states. In many European nations bookmaking (the profession of accepting sports wagers) is regulated but not criminalized. The NCAA has threatened to ban all playoff games in Delaware if the state allows betting on college sports.[1] New Jersey, which is also interested, has been similarly threatened. [2] Proponents of legalized sports betting generally regard it as a hobby for sports fans that increases their interest in particular sporting events, thus benefiting the leagues, teams and players they bet on through higher attendances and television audiences. Opponents fear that, over and above the general ramifications of gambling, it threatens the integrity of amateur and professional sport, the history of which includes numerous attempts by sports gamblers to fix matches, although proponents counter that legitimate bookmakers will invariably fight corruption just as fiercely as governing bodies and law enforcement do. Most sports bettors are overall losers as the bookmakers odds are fairly efficient. However, there are professional sports bettors that make a good income betting sports, many of which utilize sports information services.
In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers (known colloquially as "bookies") and on the Internet, where thousands of online bookmakers accept wagers on sporting events around the world.
Notes
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Bookmaking
The general role of the bookmaker is to act as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking[1]. However, this Act does not apply to other types of online gambling.[2] The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to Online gambling.
Notes
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Legality of the bookmakers
Bookmaking may be legal or illegal, and may be regulated; in the United Kingdom it was at times both regulated and illegal, in that licences were required but no debts arising from gambling could be enforced through the courts. Now, since the inception of the National Lottery, not only is it completely legal in the UK, it is a small contributor to the British economy, with a recent explosion of interest with regard to the international gaming sector industry. However, gambling debts still remain unenforceable under English law.
Bookmaking is generally illegal in the United States, with Nevada being a notable exception.
In some countries, such as Singapore, Sweden, Canada and Hong Kong, the only legal bookmaker is state-owned and operated. In Canada, this is part of the lottery program and is known as Sport Select.
In the United Kingdom, trusted legal bookmakers are members of IBAS, which is an industry standard organization which resolves to settle
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Betting exchange
Horse racing at Arlington Park, 2007
The term betting exchange is used to describe a form of bookmaking in which the operator offsets its risk perfectly through technology, such that the effect to the customer is that customers are seen to bet between themselves. Coined because of its apparent similarities to a stock exchange - it is often defined as "a stock exchange for bets" - it is therefore commonly seen as a peer-to-peer gambling website, when in fact it is more closely described as "many-to-many" (i.e. most bets are not strictly one person on one side betting against one on the other). Equally, it is often suggested, or commonly believed, that the operator is merely acting as a broker between parties for the placement of bets, rather than a bookmaker, although the reality is that bets are being accepted and offered simultaneously through the exchange's technological interface. Since it is only the exchange operator who holds a bookmaker's licence in most cases, the legal and licencing requirements invariably dictate that the legal contract for all bets be with the operator itself and not between customers. Most betting on a betting exchange has been a form of fixed odds gambling, although recently the phenomenon was also briefly established in the sports spread betting market.
Links
- BBC article on how betting exchanges work
- Bloomberg article on betting exchanges
- Tactical Trader article about betting exchange trading
- An analysis of the betting exchange industry
This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
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