Sport is made for betting

I haven't followed this whole story, but this really is bizarre. A proper lotteries company with a local monopoly should be a licence to print money.... Sazka board declares insolvency Prague, March 22 (CTK) - The board of Czech lottery operator Sazka said the company is in insolvency and asked its chairman Ales Husak to file an insolvency petition on the firm or join the previous one filed by deputy chairman Roman Jecminek, server iHNed.cz said yesterday. Surely there's more to this than meets the eye...

If you're going on holidays or booking flights well in advance but worried about whether that airline will still be there months later, then this might be for you... Paddy Power have reopened their next airline to go bankrupt market. I don't see an issue with this, it's the reality of the modern world, and those who criticise it are generally those under the most pressure anyway (see article re Flyglobespan). Of course there's the remote chance of an airline crash causing a bankruptcy, but that's pretty unrealistic, and very unlikely the small stakes you would be allowed to bet on this market would be big enough incentive to do evil... Don't denounce Paddy's powers of deduction Paddy Power looks set to ruffle a few feathers once again, after re-opening its book on which airline will be the next to go bust. The topic was very popular in the wake of the collapse of XL Leisure, the travel company, last year, and the demise of Flyglobespan, the Scottish airline,...

Magna Entertainment, owner of Golden Gate and Santa Anita racecourses, and Expressbet pari-mutuel wagering on those tracks is about to file for bankruptcy. Read this article from The Paulick Report So two of the USA's best racecourses are about to go broke. You'd think there's a buyer out there somewhere for them. But what about all the debts for prizemoney etc to owners, trainers, jockeys? Most of them are really struggling at the moment, they need this like a hole in the head, particularly with the US-style of racing where they stick to one track (at least for several weeks or months at a time) rather than race all over the state or country. Great Leighs going tits up in the UK is totally different - payments are centralised and jockeys and trainers run all over the UK. On top of this, Expressbet holds hundres of thousands, probably millions of funds in betting accounts from their gamblers. There is no regulatory system in the States where the company has to put up a huge...