Share prices react to news and information, but price alone is not always an accurate reflection of a company’s value in the short-term. Information gaps, market sentiment and rumours can cause the price to deviate from a company’s intrinsic value. In the long term, share price and value should align, at least in theory. Value is a direct function of risk and return. Market participants have a different risk/return profile, which means that a company’s equity may not be attractive to everyone at certain price levels. In a downturn, however, strong support may start to appear as the risk/return trade-off of a particular security or sector starts to appeal to a greater number of investors. Therefore, identifying a period of strong fundamental support may help traders identify the bottom of a cycle. One way of looking at support is by identifying fundamental ratios and comparing them with the previous 2000-2002 banking sector downturn. Two key ratios are Price to Earnings (P/E) and Price to Book (P/B). The P/E multiple compares a bank’s share price with its latest annual earnings per share. The P/B multiple compares a company’s share price with its book value of equity, also referred to as ‘shareholders funds’ (total assets less total liabilities). Looking at the lowest P/E and P/B ratios of the 2000-2002 banking sector downturn, most of the FTSE 100 banks are already trading at lower P/E and P/B multiples than in the previous downturn. The fact that most of the banks are trading below comparable multiples shows an absence of fundamental support levels and indicates that investors are not giving as much weight to these multiples as they did in the past. That is possibly because the market has been reacting negatively to any news concerning writedowns and a slowdown in the economy. Investors may also be discounting these multiples on the basis that the systematic (sector wide) and unsystematic (company specific) risks inherent to this banking sector downturn are unique and much greater than the risks in previous downturns. The latest credit market blowout and the introduction of securitised leveraged products have made it a more dangerous playground as the risks present in this downturn have become harder to quantify. Liquidity constraints in the secondary market have raised doubts or concerns on a number of issues including the alternative valuation methods used to price complex securitised products, the level of write-offs incurred so far and the possibility of future write-downs. In turn, this has also tainted the accuracy of future earnings forecasts. All these factors may help explain why we are entering a period where P/E and P/B multiples are at historic lows. Therefore, an absence of a fundamental support and the likelihood of increased systematic and unsystematic risks occurring as a result of a more pronounced downturn in the UK housing market, leads me to believe that the sector has not reached a bottom yet. Balance sheet restructuring and risk management are among the most important functions for a bank at this juncture. As a result, I believe that cost controls, the sale of non-core assets, a bank’s ability to attract funds and a reduction in the exposure of certain asset backed securities will all play an important role in helping liquidity and will be key issues going forward. So should we be buying banking shares and spread bet on stocks to increase? What do the professional think? Anthony Grech, Analyst, IG Index, said in his 2008 Banking Report that he believed that “those banks that successfully manage to survive this downturn will ultimately prove to be excellent investment opportunities within the next 5 years. Speculators interested in the sector’s upside prospects could start to allocate very small amounts of their wealth during dips. However, I must caution that I also believe that further sub-prime news and economic deterioration in the UK and US will drag on the sector and that better entry levels could be achieved at a later stage”. Spread betting carries a high level of risk to your funds. You can lose more than you initially invest. It may not suit all investors. Only speculate with funds that you can afford to lose. Ensure you understand the risks and seek independent financial advice if and when necessary.
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I like to trade. I do ok. But at the moment the markets are not the easiest to read. My Crude Oil spread bets have hit a bit of a resistance level and the FTSE is at a fairly solid support level. If I just want to get out for a while rather than face the unknown then what to do? The hunt for safety is becoming ever more problematic. The recent fallout in commodity values has reminded those who had forgotten that, as the Financial Spread Betting adverts always tell us, “Prices may fall. Past performance gives no guarantee of future returns and so on”.
Government treasuries from the US to Germany and the UK have had a pretty grim time as well. The long rush to safety in State debt seems to have suddenly hit a brick wall as investors now worry about inflation and over issuance. The US Federal Reserve and European Central Bank seem to be printing cash on a monumental scale in order to help loosen the credit markets. When you add the Bank of England, all three are now propping up the ailing banks with public funds. So who is going to buy this rising tide of paper?
This brings us to the ‘safe haven’ of Cash. Another difficult decision, where to keep it? Suddenly those pillars of the western world, the major banks, do not look quite so sturdy and as the HBOS saga showed. Even other banks are very willing to believe in the instability of their peers. That is clear from their unwillingness to lend to each other. The value of cash can now be seen from the fact that the banks are willing to pay considerably over base rates to acquire it. There is one primary reason, above all others, that causes a person to pay over the odds for an asset. Scarcity.
Much of the world’s worth is tied up in non-cash assets of one form or another. Bonds, Property, Equities and so on. Much of it is controlled by Insurance Companies, Pension Funds, Hedge Funds etc. And most of that is currently falling in value. And a lot of it is also quite difficult to, quickly, turn into cash at rates remotely resembling the ‘book value’.
The recent decimation of capital worth across the planet has been quite amazing. Wall Street stalwart, Bear Stearns, deftly turned $15bn of savings into virtually zero in two weeks. Peloton and Carlyle (just a few of many many Hedge Funds) wiped out £13 billion of other peoples money. An astounding sum of money. And these are the ones we have heard about.
Unfortunately the growth of the world economies is often tied up in how well the wealthy are doing. A sad indictment of the capitalist system. And at the moment, unless they are sitting on a commodity asset, they are doing rather badly.
So banks are short of the one thing that they always need to meet various regulatory hurdles, cash.
The problem is that the various central banks (apart from the Bank of England) have now done virtually everything they can to free up the wheels. There is little left in the armoury. It would almost seem that the never ending negative trade balances of the west have finally drained the well.
So where do you put your money? I have heard that the Private Swiss banks have started to come back into popularity. Companies and individuals do not necessarily want secrecy but they do want to put their money in an institution that is not tainted by the Mortgage or Derivatives markets.
Just to confirm, that’s not from a tax avoidance point of view, but from a desire to have funds somewhere where it is not at risk from systematic financial failure. The UK Government had difficulty propping up Northern Rock. What if a bigger unit got into trouble? The insurance on assets only goes up to some £40-50k. Wealthier depositors are obviously deciding that they need greater security than that.
Spread bets carry a high level of risk to your money and may not suit all forms of investor. You can lose more than your initial investment so make sure you only speculate with capital that you can afford to lose. Likewise make sure you understand the risks involved and seek independent financial advice where necessary.
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In mid-January 2009 the UK’s Financial Services Authority finally lifted the ban on short selling UK financial stocks. The press, who had being crying out for something new to report, as opposed to the usual bleak news, covered the headlines with it.
Essentially the ban stopped investors from shorting 19 of the UK’s financial stocks. So whether you like to spread bet and/or trade CFDs you were not allowed to bet on these financial stocks to go down. Of course, you were still allowed to bet on them going up. That would not have been a great investment decision, at least not in the short term.
Banking stocks have been leading the declines in the last few months. Should their share prices continue to fall then no doubt it will be blamed on the short sellers once again.
There is still no evidence that short selling before the ban was the main reason why bank stocks suffered such terrible falls. Given that the sector has fallen some 55% from when the ban was introduced maybe people will understand that it is not just the “spivs and speculators” driving prices down. It is the fundamentals.
The many investors who held onto bank shares in the last few months will probably be quite annoyed that there was a ban on shorting such shares. Without the restriction they would have been able to hedge their exposure by selling short, whilst continuing to hold onto their underlying investment.
Sadly for them they’ve seen an outright depletion in their investment. Whilst stock holders may still have been able to short if they had a Net Flat or Net Positive position, there does not seem to have been complete clarification of this point.
Overall, the ban has largely caused confusion for spread betting and CFD traders whilst at the same time preventing them from making a legitimate investment decision.
Do we expect to see increased selling after the lifting of the ban? Perhaps not. Simon Denham of FinancialSpreads.com recently said, “The lifting of the ban is not expected to have any incremental effect on our business since we saw so few clients shorting financial stocks previously”.
So should we take advantage and start selling the stocks again? I am not so sure. The stocks have had some massive falls. The shares may indeed fall further but the risk may not be worthwhile. If the black holes in the balance sheets start to shrink and the ‘unknowns’ become ‘knowns’ then the shares could quickly recover.
For now it may be better to look at the companies that are reliant on the banks for credit. The heavily indebted companies, particularly those that need refinancing in the next 3 months could find themselves in a spot of bother.
Spread bets carry a high level of risk to your money and may not suit all forms of investor. You can lose more than your initial investment so make sure you only speculate with capital that you can afford to lose. Likewise make sure you understand the risks involved and seek independent financial advice where necessary.
http://www.google.com
Football betting is by far the most practiced leisure activity in the USA and football picks are really popular. Besides the thousands of people brought together and the enormous adrenaline rushes (in some extreme cases too great to handle), it’s a business worth billions of dollars and it plays important parts throughout the entire American Football arena, such as keeping the fans’ interest alive and so on. There are lots of fiery fans out there who can’t admit that, for years, a single day hasn’t gone by without checking out last night’s scores, what changes have been made within their favorite teams or even reading tabloids about the football stars’ lives. Here’s a short insight on NFL picks.
If you are willing to admit that football betting is by far the most practiced leisure activity in the USA, you must also acknowledge the importance of football picks and NFL picks. They are a significant part of football and their popularity is due to the fact that supporters enjoy thinking their favorite teams and players are the best. They are even ready to bet on it. Besides the thousands of people brought together and the enormous adrenaline rushes (in some extreme cases too great to handle), football betting is a business worth billions of dollars and it plays an chief role throughout the entire American Football arena, such as keeping the fans’ interest alive and so on.
There’s a huge public interest concerning pro football, a full-grown American Football “Culture” that is properly exploited. Besides football picks and NFL picks, everyone has something to gain at some point or another. First of all, the teams and their players, the bookies and the betting agencies, the brands spread due to the intense publicity done by the teams and even by the players who sign multi-million contracts with the firms to do commercials. Also, the equipment, even the water provided by certain brands can’t get by unnoticed, thus being advertised.
Leaving all the other profits aside, the football picks are still and always will be a steady financial pillar of the whole American Football business. There will always be someone willing to place another bet. So, these days there are well-organized agencies with various betting methods and professional bookies to take your bets.
It is always advisable, though, not to turn to phony or unreliable bookies, just to keep you safe. No one would be happy with a so-called professional or ghost-agency that will never pay them in case they win and so on. As everything in life, NFL picks should not be taken recklessly. That way you’ll stay out of trouble. Another good way to keep safe, like I said, is turning to reliable sources, such as well-known agencies.
There are numerous websites concerning this popular matter, such as Wunderdog Sports Picks. It’s quick and easy. The vast database contains scores and all other sorts of information regarding football picks and all there is to know about them; there’s tons of info that is sure to provide you with any details you need to be informed with in order to take a wise bet.
This site has a user-friendly interface, making it easy for anyone to scroll around in search for good NFL picks. It also has contests awarding free picks, which are not to be missed. It wouldn’t hurt to check out the resource below for a better insight on the site and to improve your online betting experience.
It’s also free to sign up to receive their newsletter and to look over sport books and resources – you will surely find something to your liking in their vast database. In a few minutes you’re set. And who knows? What if your gut tells you the right thing this time? Maybe you’re a few clicks away from your lucky NFL picks.
http://www.google.com
Will the FTSE 100 continue downwards? Will it find a bottom and rocket upwards?
Looking on a long-term basis the FTSE 100 has not moved much. It is not far away from the level it was in 1997. Do not forget the FTSE is not a like for like comparison. It continually removes the poor performers and replaces them with better performing constituents. So even in this survival of the fittest scenario, the fittest have merely stood their ground. Even worse, many of the recent additions are not really UK companies at all and the only reason that there has been any strength at all in the FTSE 100 over the past year has been because of companies such as Antofagasta (Chile), Kazakhmys (Kazakhstan), BHP (Australia) and BP, Shell, and Rio Tinto (Global but definitely not UK). Even companies such as Vodafone and HSBC (one of the ‘better’ banking stocks this year) are increasingly global rather than domestic.
Does that mean the FTSE 100 is more of a global index?
70% of FTSE 100 stock income is from foreign earnings but even here a large proportion is in US Dollars which until recently has only been marginally stronger than Sterling.
The preponderance of mining, tobacco and oil companies in the index is helping to offset the falls in Banking and Retailers. However it must be pointed out that if the remainder of the index had matched the falls in these two sectors we would be another 2000 points lower.
If the current weakness in the Commodities Market continues and the Financial Sector continues to have problems that would suggest only one direction.
Of course, as mentioned above, the FTSE does replace its constituents. That would suggest any drops will be supported by the stronger companies on their way up. And like the spread betting adverts say, the markets can go up as well as down.
In the UK with just about every indicator you care to mention in the red or moving into the red the equity markets look to be defying gravity. This is, as with everything financial these days, an illusion for several reasons. In world terms, the value of UK equities has fallen dramatically as the pound has dropped (for a European or Far Eastern investor in British stocks their valuations are actually another 20% lower in local currency terms). Secondly, much of the income from top line FTSE companies comes from abroad where in some cases the current economic cycle is still thriving and in Sterling terms that means their revenues may have actually increased even though economic conditions worsened.
When we focus on UK centric FTSE 100 stock the picture is much less positive. The retail and banking sectors are performing pretty poorly with many valuations languishing at 50%+ discounts compared to this time last year. The FTSE 250 is off almost 30% from last years highs whilst the senior index was ‘only’ about 20% lower prior to the Lehman’s catastrophe. Given the much more home market based orientation of the FTSE 250 index this is not surprising. Having said that, if you take into account the appalling performance of the UK centric stock in the FTSE 100, it can be argued that either the FTSE 250 is out performing the major index or that many top line stocks have been well and truly oversold.
Which is which? Should we be spread betting on the FTSE 100? Well that is, of course, where you pay your money and take your chance.
Note that spread betting carries a high level of risk and may not be suitable for all classes of investor. Only trade with money that you can afford to lose. Make sure you fully understand the risks involved. If necessary, seek independent financial advice.
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There are several reasons why traders and investors incorporate financial betting in their armoury when it comes to generating a return from investments. Whilst clearly not without risk, there are several advantages to financial betting over and above those of investing in the underlying asset.
You can make money if the stock goes down as well as up, meaning there are more opportunities to make a profitable trade. It offers the possibility of profit in a bear market, which given the current economic climate is no bad thing. There is also the chance to make greater profits in a volatile market. If a market is experiencing two hundred point swings on a daily basis, there is some serious gains to be made.
The opportunity to make returns extends beyond simply whether a share price goes up or down and there is an ever growing number of bets available. These include a double touch, whereby a share price has to hit a predetermined high and low from its current position, and a no touch, where the share won’t hit the price selected.
Bets are not restricted to shares. Indeed betting on individual shares makes up only a small proportion of betting possibilities. Opportunities exist to trade just about almost anything, but the most popular markets currently include share indices such as the FTSE or DOW, foreign exchanges and commodities.
This isn’t limited to the UK market but extends to other major indices and markets around the world. These markets offer global exposure, not to mention round the clock trading. Remember, when one market closes, another one opens and so if you wish, you could be trading twenty four hours a day. Although a word of caution, if you have lost some money don’t keep trading to try and chase the losses. There will always be more opportunities the day after.
The returns on offer for bets, in percentage terms, can be much higher than those from trading the share. A share might go up 10%, whilst the bet gives a 40% return. Of course if the bet fails then the stake is lost, unlike a share where it’s unlikely the share will lose all its value. Because of the extra risk a potential higher return is required.
Transactional costs are lower. Share trading incurs a transactional cost, and although they’ve come down in recent years are still around £10 per trade when using an online stock broking account.
Share purchases also incur stamp duty, currently at a rate of 0.5% of the purchase cost. Depending on whether the stocks are held in a tax-efficient vehicle such as an ISA or a pension, the shares may also give rise to a capital gains tax charge.
Financial betting doesn’t incur such charges and the returns are tax-free. Instead the betting company makes its money through the spread that is quoted for the trade.
The benefits are there to be seen but, as with all betting, only stake what you can afford to lose and remember financial betting isn’t for the feint hearted!
http://www.google.com
You’re thinking a “hedge” is something like a Bernie Madoff Ponzi scheme, or maybe a small, furry member of the rodent family, or perhaps a row of bushes in England. Aren’t you? I don’t think so.
A hedge bet in football betting (or other sports wagering, for that matter) refers to betting on both teams in the same game in certain situations that will enable you to risk a small amount of money in the hope of winning 10 times or 20 times your original wager. “Sounds crazy,” you say? You will find only several opportunities throughout a betting season, but you must be aware of the fundamental concept to seize them when they occur. This article will teach you how to identify these opportunities.
Let’s say for example that the San Francisco 49ers are scheduled to play the New York Giants next Sunday afternoon. When the spread opens, let’s say the oddsmakers post the opening line for the game, favoring the Giants by 6 points. That is, if you bet on the Giants, you have to give the 49ers 6 points, and if you bet on the 49ers you get 6 points. But as time goes by, the Giants become over-bet in New York, just as the 49ers are over-bet in San Francisco. What local wagering services (bookies) do to balance their books is adjust their point spreads to attract additional bettors. As you know, the ideal situation for a bookie is to have equal amounts bet in both directions. In that way they bear no risk, and are guaranteed to win.
For example, New York bookies may change the spread to -7 to attract 49er bettors, while San Francisco bookies may lower the spread to +5 to attract Giant money.
Here comes the Hedge — When this happens, there may be an opportunity to bet on the NY Giants at -5, and at the same time bet on the 49ers at +7, and hope that the final point difference falls within 4½ and 7½. If it does, you’re a big winner! What did he say?
Let’s look at some real numbers in the table below to understand the situation more clearly. Here are the potential outcomes of $110 bet on the Giants at -5 and on the 49ers at +7, for all possible point differences:
In the second column, “$110 Bet on Giants at -5,” you lose if the Giants fail to cover, Push at 5 points, and win $100 at 6 points or greater. The third column, “$110 Bet on 49ers at +7,” you win $100 at a 6 point or less difference, Push at 7 points, and lose $110 when the point difference is greater than 7.
From looking at the right most column labeled “Total Win (Loss),” you can see the financial results of all combinations of point differences between the Giants and 49ers. The Conclusion: The most you can lose is $10, but you can win $100 or $200.
When should you hedge?
1) when the opening point spread is less than 15 points and the difference between the spreads listed by two bookies is 2½ points (i.e., 14 & 11 ½), or
2) when the difference between the spreads listed by two bookies is 2 points and the number 3 or 7 is included within the difference (i.e., 2½ & 4½ or 6 & 8), respectively.
Also, #1 above can be done with a 2 point differential instead of 2½, just as #2 above can be done with a 1½ point differential instead of 2, but then you will be cutting down your actual advantage.
With online gambling these days, you’re less likely to find betting line differences by region, but you certainly will find them as weather changes, players get injured or suspended, or the outcome of a game no longer means anything, as what happens at the end of the season.
When you win both sides of a Hedge bet, you’ll feel so smart, you might burst? Visit http://www.NFLFootballIntelligence.com for other insightful articles on beating the spread.
Point Difference (Giants/49ers) $110 Bet on Giants $110 Bet on 49ers Total Win(Loss)
<5 -$110 +$100 -$10
5 Push +$100 +$100
6 +$100 +$100 +$200
7 +$100 Push +$100
>7 +$100 -$110 -$10
http://www.google.com
Spread trading is a way of trading the financial markets and profiting from ones that are falling. Once the exclusive playground of institutional fund managers and hedge funds, Worldspreads.com now offers individuals the opportunity to track the potential of commodity futures for online trading. We also offer short financial instruments, so that our investors can maximise their profits from volatile markets. Spread trading offers possible profit that is free of Stamp Duty, Income tax and Capital gains Tax – a much more economic alternative as opposed to using the services of a regular stock broker.
Using Worldspreads.com means that you do not have to wait for your stockbroker to ‘get back to you’: we offer instant execution on your spread trading decisions either by telephone or online. As an additional benefit, we also offer extended dealing hours on most instruments. You can call us between 7am and 9.15pm GMT and check the exact trading times for each instrument using our interactive website. So if you decide that certain commodity futures are ripe for online trading, you can execute your decision at the most appropriate time.
Spread trading with Worldspreads.com also allows you trade from as little as ? (or its foreign currency equivalent) per point on all the markets. This is far lower than you would be able to trade with a stockbroker on the underlying markets.
To find out how you can take advantage of our knowledge and expertise, or our spread trading tutorials and seminars, contact on of our helpful telephone advisors now.
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If you are among the serious bettors, casual bettors,even all kinds of people who wager on sports have found this systems the answer to their prayers. Why? Because the techniques and systems work – for straight bets, teasers, parlays, under/over’s, you name it. You will win consistently. You will win big. And you will join that very elite group of people who look forward to settling up with the bookmaker every week –- because the money’s coming your way.Skeptical? I don’t blame you. I would be too.
Remember what you were taught – If it sounds to good to be true, it probably is. And there are plenty of people out there willing to tell you whatever you want to hear, just so you’ll buy their product. You know them. Hell, you’ve probably done business with them.Once you read this 21-page book you’re going to learn how simple it is to make money on sports betting. And when I say “simple,” I mean just that. If you follow the easy-to-understand directions thats laid out for you, you can sit back and watch the money roll in, bet-after-bet, day-after-day. Believe it, that’s what thousands of others who have bought this book do – and the bookmakers hate it.
These are the guys who promote the guaranteed locks, plays of the year, special insider’s information – in short, anything to get you to buy what they’re hawking. And how did you make out with that can’t-lose-5-thousand-star-lock-of-the-millenium game? What? You say the team ran out the clock when they could have easily kicked the spread-winning field goal? Not to worry. Your guy will be back with another can’t miss game next week.
Been there. Done that. But that’s not what it’s about. It’s not about individual games – It’s about the sports betting systems – systems so easy to learn, and so easy to use you simply won’t believe it.
But here’s the thing – you’ll have the proof that this system not only works, but works consistently. How do I know that? Because the customers who have bought this system keep saying so, each and every day.
Win and Win at sports betting is the only place where you get access to these proven money making systems for every sport. They are not available anywhere else on the web.
Just think about how much better your life could be if you didn’t have to worry about money anymore! You could secure your financial future and live a life of total freedom! Okay now stop day dreaming and get the The Revolutionary Sports Bet system right now Here is another idea for you. Purchase The Revolutionary Sports Betting System and use it to start your own sports picks business! You could start your own sports picks website or resale your picks on Ebay for a huge profit! More than a handful of people are doing this and making very nice livings.
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Four states had legal sports betting on their books in 1992 when the federal government banned states from the bookmaking business, and grandfathered in existing legal sports gambling in Nevada, Montana, Oregon, and Delaware.
Of those states, Nevada has a thriving sports book business while the other three had various forms of lottery games that involved sports. In May, Delaware attempted to join Nevada and get a piece of the estimated $400 billion that is wagered annually, legally and illegally, on professional and college sports. That attempt was thwarted in August when a federal appeals court in Philadelphia ruled that sports betting in the First State would violate the 1992 federal ban.
The crux of the appeals court ruling was that Delaware’s 1976 failed sports lottery did not constitute enough of a precedent to allow the grandfather clause of the 1992 law to apply. So, at least for now, legal sports betting in the United States will not grow outside Nevada sports books and various forms of horse and dog racing.
The implications of widespread sports gambling for the African American community are worth discussing. Though the Super Bowl is the most wagered sports event with $10 billion estimated to change hands, the NCAA Men’s Basketball Tournament is thought to be second, with an estimated $6 to $7 billion wagered legally and illegally.
While Super Bowl players are in many cases millionaires earning hundreds of thousands of dollars for their playoff runs, NCAA Men’s Basketball players are unsalaried, often without family money, and in some eyes ripe for the taking by gamblers. About three out of four are African American. Are college basketball players in particular apt to be influenced by gamblers, and are college athletes in general at greater risk due to the fact that the payoff for playing college sports is vastly different than the payoff a pro athlete receives from his sport?
Mitch, 52, a regular visitor to Las Vegas sports books during March Madness who played guard for U.C. Irvine’s basketball team in the 1970s, doesn’t think so. “I personally believe it is very difficult for an individual in a team sport to execute a point shaving scam. While it is possible, I do not think the risk warrants future regulation of legal sports betting.”
The facts would seem to bear Mitch out. While there have been intermittent gambling scandals, particularly in college basketball, since about 1950, there has been no increase in known point shaving scandals even as the money wagered has grown exponentially in the last decade.
The last dustup occurred in the early 1990s and involved North Carolina State player Charles Shackleford, who is African American. ABC News reported that during the 1987-88 season as many as four N.C. State players, including forward Shackleford, conspired to hold down the scores of four games in return for cash payments from a New Jersey contractor. According to the report, one of the games was March 6, 1988, against Wake Forest. N.C. State defeated Wake Forest by four points, after being favored by 16. According to Shackleford’s lawyer and agent, Sal DiFazio, Shackleford never shaved points, although he admitted taking $65,000 from two men. Shackelford said the money was a loan.
The notoriety did not affect Shackleford’s pro prospects. He played six NBA seasons with the Nets, 76ers, Timberwolves and Hornets; plus several seasons in Europe. Would an NBA team employ a non-star if the team believed it could not trust him to play honestly?
Jeff, an executive recruiter in Southern California, has played fantasy football and baseball for years and is fluent in the language of point spreads. His point of view is pragmatic and optimistic. “Admittedly, legalization of gambling will make it much more accessible, but the solution does not lie in controlling access. The specter of expanded gambling is an ideal example of one of our greatest challenges (and opportunities) as a society – we need to emphasize the importance of ethical behavior in all aspects of our lives and our activities, and we need to be able to look to our sporting heroes as the example to follow.”
The bottom line: gambling is a fact of life in American society and sports whether legal or illegal. Unpaid, less wealthy, often African American; athletes, in college may be at greater risk, but with a vast majority of games on television, they are also watched more closely than ever. Legal sports gambling is merely a vehicle for states to get a cut during difficult financial times. The risk of players shaving points or throwing games is no greater or less, regardless of whether the action is taxed or part of a black market economy.
http://www.google.com