1. SPORTS BETTING Sedley Barr

2. TERMINOLOGY Turf accountant Bookie – lays the bet to the punter Punter – punts with the bookie

3. 2 TYPES OF SPORTS BETTING Fixed OddsSpread Betting

4. 1/1Man U* 1000/1000 # 23/10Draw* 1400/600 # 3/1Spurs* 1500/500 # Profit or loss gets determined before the event takes place. Example: Man U. vs Spurs * Indicates amt punter wins # Indicates stake of punter (Stake is refunded if bet wins) Fixed Odds

5. 50% chance100-5050/501/1 30% chance100-3070/302,3/1 25% chance100-2575/253/1 HOME WIN DRAW AWAY WIN How is the betting determined: % probability of each event occurring based on previous encounters, plus current form 3 possible results = 105%= 5% PROFIT! Fixed Odds

6. 1/1Man U* 1000/1000 # Pay 1000 Receive 1100 Profit 100 23/10Draw* 1400/600 # Pay 1400 Receive 1500 Profit 100 3/1Spurs* 1500/500 # Pay 1500 Receive 1600 Profit 100 Determining profit Fixed Odds

7. NOW EVERYONE WANTS TO BECOME A BOOKIE!!!

8. What can go wrong? Fixed Odds I only win 5% my liability on each event is the same i.e. What if everybody bets on: - Man Utd only - Draw only - Spurs only ANSWER : Lay off – hedge my bets with other bookies

9. LETS BET !!!

10. Spread Betting OPEN ENDED i.e. profit and loss only determined after event WHY ? per run per goal Odds are determined the same as Fixed Odds – based on probabilities

11. Spread Betting HANDICAPS - New Zealand giving SA start in rugby match EXOTIC BETS - half time / full time - score lines - set betting (tennis)

12. TAXES Gambling Board pays over to Province Booking pays Gambling Board (WCRGB) Collected by bookie (i.e. only pays 94% of winning bet) 6% Betting tax paid by punter on winning bets

13. RACING 6% = 3 % GB = 3 % Turf Club SPORT 6% = GB TAX REVENUE (W.Cape) * 90 % Horse Racing 10 % Sport TAXES

14. JOCKEY TO BET ON A RACE ! SOCCER PLAYER TO BET ON EVENT ! CRICKETER TO BET ON EVENT ! i.e. Where the outcome of a result is dependant on the performance of the player - specifically goalkeeper / referee HONESTY / INTEGRITY

15. BETTING EXCHANGES ANONYMOUS BETTING BETWEEN THE CLIENTS OF THE EXCHANGE ILL BE OUT OF A JOB

16. SERVICES NOT PROVIDED BY BETTING EXCHANGES: - CREDIT - DOUBLES, I.E. SPORT / RACING BETTING EXCHANGES

17. QUESTIONS ?