Tuesday, September 2, 2014
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS
MOST READ



PARTNER NEWS



BLOGS



OPINION



WHERE TO GO?

The Romanovs in St. Petersburg

History of St. Petersburg Museum

Small Tragedy, Fatal Passion

Rimsky-Korsakov Apartment Museum

 

  Print this article Print this article

Bookmakers Cash In on World Cup Upsets, Bizarre Bets Pay Out

Published: June 26, 2014 (Issue # 1817)



  • The bookmaking industry in Russia is still relatively young but is already nearing Western proportions in terms of the amount of money people are prepared to bet.
    Photo: V. Baranov / Vedomosti

A $50,000 bet on your favorite player becoming the top scorer at the football World Cup in Brazil or a wager on the probability that Uruguay's Luis Suarez will sink his teeth into an opponent again may seem odd, but these are real bets in an industry where mathematics supplements sheer luck.

Russians may not be quite so foolhardy or inventive in their bets, but the World Cup is seriously stoking their interest, with up to 50 percent more people betting on football than before the tournament kicked off, Oleg Zhuravsky, president of the Russian Bookmakers Union, said Wednesday.

The World Cup has been packed full of surprises so far, with a number of the pre-tournament favorites being knocked out by outsiders, wiping conventional bets off the table and rewarding bold punters with hefty payouts.

Who would have thought that Robin van Persie's beautiful diving header that leveled the score between the Netherlands and Spain would open the floodgates for a 5-1 rout of the former world champions? Or that Italy and England would have to fly home even before the knockout stages get under way?

The unexpected successes and failures of teams in Brazil have directly affected the bets that thousands of people are making worldwide.

"One punter bet 50 euros [$68] that Costa Rica will win the tournament at odds of 2,500/1 and that bet is looking a lot less like a long shot now than it did at the start of the tournament," said Joe Crilly, a spokesman for William Hill, Britain's biggest bookmaker.

He also said that when the favorites are eliminated, it is always good news for the bookmakers due to the liabilities that are racked up in the buildup to the tournament.

"But we always say that it is best for us if some of these fancied sides get further in the tournament and then fall at the penultimate of final hurdle," Crilly said.

Zhuravsky said that profits gleaned as a result of favorites exiting the tournament early may be high in the short run, but that in the end the margin levels out.

Pages: [1] [2]






 

ALL ABOUT TOWN

Wednesday, Sept. 3


Although the Peter and Paul Fortress sand sculptures are more central and therefore more visible to the throngs of tourists, the 300th Anniversary Park of St. Petersburgs own collection closes today. The World Collection of Sand Sculptures that have been on display at the park reaches its final day, so fans of the classic beach activity should get there while they can.



Thursday, Sept. 4


Vladimir I. Danchenkov, Head of Baltic Customs, will be in attendance during AmChams Customs and Transportation Committee Meeting convening this afternoon at the organizations office near St. Isaacs Square at 3 p.m.



Friday, Sept. 5


Scrabble lovers and chess masters get their chance to assert their intellectual dominance at the return of the British Book Centers Board Game Evenings tonight. Held weekly on Friday nights, the event gives both board game lovers and those hoping to improve their English the chance to meet, greet and compete. Check out the centers VK page for more details.



Saturday, Sept. 6


Athletes will relish the chance to get the latest gear and try out something new at I Choose Sport, an annual event at Lenexpo forum that plans to welcome more than 30,000 people this week to the international exhibition center. Not only will visitors get to try their hand at various athletic endeavors but they will also be able to peruse equipment that can fulfill their dreams of becoming a champion.


Local KHL team SKA St. Petersburg open their season this evening at home against Lokomotiv Yarovslavl at the Ice Palace arena next to the Prospekt Bolshevikov metro station. See their website for a full schedule and available tickets.



Sunday, Sept. 7


Check out retro and antique cars at Fort Konstantin on Kronstadt Island in the Gulf of Finland at FORTuna, a yearly car festival that highlights the eccentricities of the Soviet automobile industry. A car race, contests and a stunt show will give visitors a chance to rev their engines.



Monday, Sept. 8


This evening marks the opening of the two-week ballet festival High Season at the Mikhailovsky Theater. Check the theaters website for more details about performances and featured dancers.



Tuesday, Sept. 9


Discuss the latest news and issues at the AmCham Hazardous Waste Management Roundtable this morning in the Tango Conference Hall of the Sokos Hotel Palace Bridge on Birzhevoy Pereulok. Starting at 9 a.m., planned topics include the Krasny Bor landfill and waste transportation between Russia and Finland.


Learn more about the citys modern architectural trends at the SPIBA Real Estate and Construction Committees meeting on the topic Contemporary Petersburg Style: What is It? Participants will get the chance to discuss whats in-demand with RBI Holdings Irina Petrova and Lubava Pryanikova, and the current state of the local real estate market. Please confirm your attendance by Sept. 5 through SPIBAs website if you wish to attend.



Times Talk