Tuesday, August 01, 2006

Afternoon Delight

Sorry for today's airball. If it makes you feel any better, those eleven hours of sleep I logged last night really rejuvenated me! At any rate, you can count on plenty of "Entourage" talk tomorrow, along with a few other thoughts. In the mean time, Fite sent me this email today, and I thought it was worth sharing. So, with his permission, here's a look at how Fite passes his time at the office:

Thanks to the internet, we have access to many different proposition bets. You can bet on everything from the coin flip to the longest field goal, and everything in between. You can even bet on female sports such as basketball and the Tour de France. The great thing about gambling is the instant gratification/anger over winning or losing. No matter which way a bet goes, you get instant feedback.

The casinos and bookies don't care about poor officiating. They might agree with you that Miami did not commit pass interference against Ohio State in overtime, but if you bet on Miami they aren't giving you a dime. The game is over, winner declared, life moves on.

Recently, however, the finality of sporting events has been called into question because of drugs. If Landis' test remains positive, did he win the Tour de France? Who should the casino pay, the person that bet on Landis or the person that backed Pereiro?

From a practical standpoint, unless the casinos adopt a waiting period before payment, they have to pay on Landis bets once he crosses the finish line. (Side note, delaying payment wouldn't be unprecedented. Horse and dog tracks all post unofficial results, which are confirmed a few minutes later. Here, it would just be a longer delay.) Pereiro ticket holders would get screwed, but no more than people who bet against the Giants when Bonds homers.

We can probably agree that once a casino has paid a bet it has no real chance of getting it back when new facts come to light. But what about people that try to collect after the new information is out? Can a casino ethically deny payment? Does it make a difference if the casino has decided to pay Pereiro tickets or not?

I think that the only people that like the scandal are bookies. Now they can argue both ways and not pay anybody.