ith respect to the second criteria, it has also been found that betting exchanges deliver more accurate odds than bookmakers. This is to be expected, since betting exchanges are based on open market principles while bookmakers control their markets. The bookmaker's spread will negate any advantage the bookmaker will have in setting odds vis-a-vis the market. Indeed, the market's ability to set better odds than bookmakers has to do with removing the traditional information asymmetry that exists in the bookmaking industry.
The only point on which bookmakers may offer superior consumer welfare is with respect to liquidity. The concept applies to bookmakers as well, though, in that spreads are greater for events that receive fewer bets. In addition, the market is likely to remedy the liquidity problem and Metcalf's Law in the long-run, meaning that over the long-run betting exchanges are expected to deliver superior consumer welfare outcomes compared with bookmakers.
orks…...
mlaWorks Cited:
Koning, R. & Van Velzen, B. (2008). Betting exchanges: The future of sports betting? Retrieved May 1, 2011 from http://www.thefreelibrary.com/Betting+exchanges:+the+future+of+sports+betting%3F-a0200185604
Smith, M. (no date). Consumer welfare and policy relating to online gambling. Economics & International Business Subject Group. In possession of the author.
Smith, M.; Paton, D. & Williams, L. (2006). Market efficiency in person-to-person betting. Economica. (2006). In possession of the author.
Smith, M.; Paton, D. & Williams, L. (2008). Do bookmakers possess superior skills to bettors in predicting outcomes? Journal of Economic Behaviour and Organisation. In possession of the author.
sports betting. Discussed are the problems with the betting, players getting gifts from betting agents, and effect of sports betting on the economy. Seven sources are used.
Sports and Betting
More Americans play more sports than in any other country in the world. Moreover, we watch more sports than anyone else on earth. Football and figure skating, two sports that could not be more different have drawn the biggest TV audiences in history. Sports bind us together as Americans. It has the ability more than just about anything else to tear down the barriers of race, class, gender, politics and geography (McDonald 1998). Sports is part of our national culture. It's part of our national conversation. A waitress at the local cafe talks Friday-night football with the cop and the banker. A Democratic gardener, trimming the greens at the country club, discusses golf swings or last week's tournament with a Republican…...
mlaWorks Cited
Davies, Dick. Spotlight Pofile. http://www.unr.edu/alumni/profile.asp?ID=5 .
A accessed 05-12-2002).
Gopal, Arun; Pettypiece, Shannon. "Michigan considers possibility of NCAA sanctions."
Track Betting in Sports - the Pros and the Cons
There is no doubt that first of all, thoroughbred wagering is a huge sport in the U.S. And elsewhere; and there also is no doubt that off-track betting (OTB) has become a very popular form of gambling, not only in the United States, but all over the world. Like any issue involving money, the public, and potential harmful habits that could be formed, OTB is, always has been - and always will be - controversial. This paper will discuss gambling addiction and other negative wagering issues as part of the "con" side (including the age groups most vulnerable to addictive behaviors); and the paper will also present the "pro" side, including food, beverage and entertainment services offered at OTB sites, the newest OTB innovations (which are on the Internet, which makes a person's home a veritable OTB); and the paper…...
mlaReferences
Betfair. "What is Betfair and how does it work?" November 2003. http://www.betfair.com .
Eng, Richard. "Bet Exchanges big Business." Daily Racing Form 17 November 2003. http://www.drf.com/news/article/51484.html .
Horton, Peter. "Still Gambling After All These Years." Newslink: Problem Gambling
News & Information. March 2001. http://www.responsiblegambling.org .
Scandal/Controversy in Sports
The following will take a look to see if scandal and controversy benefit sports.
Background of Sports Industry and Scandals
Sports in the U.S. is a multi-billion-dollar industry. Companies try to engage with clients by aligning the services and products they offer with this well-known industry via sports funding and endorsement. The benefit of this involvement has been well-recorded in the sports marketing literature (Hughes and Shank, 2005). The effect on business brands in case a scandal surfaces regarding an athletic supporter like a player, coach, or a team however, is less well-known. Several sports scandals, for instance, the rape case surrounding Kobe Bryant and the University of Colorado recruitment scandal raise very serious questions regarding the effect of sports scandals on amateur and professional athletic institutions, participants, sponsors, as well as other stakeholders.
Whereas conventional corporate sports supporters like Nike maintain omnipresence, several other different kinds of organizations are entering…...
mlaReferences
Alessi. (2014). TheRichest - The World's Most Entertaining Site. Top 10 Sports Betting Scandals and Controversies - TheRichest. Retrieved June 21, 2016, from http://www.therichest.com/sports/top-10-sports-betting-scandals-and-controversies/
Doorty, A. (2016). Odyssey. Is Scandal Good for Baseball? Retrieved June 21, 2016, from http://www.theodysseyonline.com/are-scandals-good-for-baseball
Fisher, R., & Wakefield, K. (1998). Factors leading to group identification: A field study of winners and losers. Psychology & Marketing, 15(1). Retrieved, from http://onlinelibrary.wiley.com/doi/10.1002/(SICI)1520-6793(199801)15:1%3C23::AID-MAR3%3E3.0.CO;2-P/abstract
Garg. (2010). The Hoya. Scandals Show Need to Pay College Athletes. Retrieved June 21, 2016, from http://www.thehoya.com/scandals-show-need-to-pay-college-athletes/
ports and popular culture (NFL/NBA)
Prelude
Pop Culture
Popular culture entails all forms of mass communication such as:
Newspapers
Radio
Magazines
Music
Books and Cartoons and comics
Advertising
It is somewhat different compared to higher forms of cultural art such as:
Classical music
Artworks
Conventional theatre
In terms of mass communication, popular culture means messages which are intellectually and artistically limited primarily designed to entertain and humor the viewers (Hollander, 2014). Following the industrial revolution, the people had a lot of time to spare which led to a huge demand for entertainment and amusement and gave height to media. The increasing supply of goods also made it necessary for the advertisers to attract the consumers and mass media could reach a large number of audiences at the same time (Hollander, 2014).
ports
The physical activities have always been in the life of human beings in the form of different leisure activities. These activities consisted of hunting and war-like nature as well as dancing and other activities.…...
mlaSports have played a huge role in the American society on the whole as they have become a necessary part of the popular culture. American football is quite a popular game which brings NFL (National Football League) in limelight. NFL is same to same as other sports have an off season too when they are on a season break. Leagues such as NBA (National Basketball Association), MLB (Major League Baseball) and NHL (National Hockey League) follow the same pattern which builds the hype for them (Lee, 2012). It enables the public to forget all about sports for a while until it swings back in action again. The off season usually consists of training sessions, gym, trading players, NFL Combine and NFL Draft. These activities are heavily kept watch of by loyal fans followed by intense discussions (House, 2012).
Super Bowl is intensely popular in United States. Even the non-followers are somehow influenced by it as they hear news about it or by viewing it. The news channels mention regularly and social media is definitely on fire with news and updates. A famous band plays during halftime while a draw exists for watching the advertisements during the game and halftime (Lee, 2012). Companies are compelled to dish out loads of cash to display advertise themselves as the Super Bowl progresses. These ads are usually creative and funny and sometimes mixed. People for the sake of fun choose a particular team and cheer it till the end or otherwise friends pick a team and contend that it will win the title. It's sort of a public gathering event where food is enjoyed and drinks are taken in huge quantities. Tostitos and Doritos are chips found mostly at super Bowl parties while in case of drinks Coke, Pepsi and Budweiser. For the sports fans, it's their day off as they spend the entire day in front of a TV or mocking the opponent's team for fun. TV shows often give reference to Super Bowl just as Christmas and Halloween. Betting on a high level is also involved for the winning team, people are cut some slack from office, schools and colleges as it's the biggest event of the year (Hollander, 2014).
In 'Popular culture and the rituals of American Football' by Mark Axelrod, several cultural practices in America regarding football are mentioned. Before the ports went global, there were a lot of rituals and myths
With this being understood the cockfight blend has an influence on the societies in which they are carried out (Turner, 2001).
As it relates specifically to Latin America, there are 20 countries that compose the region. In the Latin American country of Mexico cock fights are very common ("Cock fights in Mexico"). In fact cockfighting shares the same amount of popularity as charreadas and bull-riding rodeo activities ("Cock fights in Mexico"). In addition the prevalence of cockfights is as common as the late-night entertainment that occurs during village fairs ("Cock fights in Mexico"). In Mexico, cockfights tend to draw both male and female onlookers; these individuals place bets on which gamecock will win the fight ("Cock fights in Mexico").
In many regions around the world the sport of cockfighting is illegal ("Cock fights in Mexico"). However, within the country of Mexico, cockfights are legal and a central body in the Federal…...
mlaReferences
Aizenman, N.C.
Tuesday, August 15, 2006; Getting Physical, Talon by Talon, in the Cockpits of Nicaragua. Washington Post. Page A10
Cockfights in Mexico
Retrieved from; http://www.surf-mexico.com/culture/cockfights.html
Game theory is a critical form of decision making that is used in various subjects like economy and political science. Its relevance is becoming prominent in the success rates that have come out in gambling and sports betting. The theory is basically an amalgamation of different models of cooperation and conflict between various decision makers (Myerson, 1991) Thus, it can be safely stated that the theory itself is not just one piece of information solidly put out there yet it's a combination of different authors and experts. As mentioned earlier, the game theory has been linked to economic models, science, gambling like poker or sports betting and social situations as well. In the game theory the simplest way of putting it is analyzing the number of players and the moves that they are likely to take. Using this information, a person can guess and figure out the number of choices…...
mlaReferences
Anon. (1994) Gambling. In The Columbia Encyclopedia. (6th ed) n.a: Columbia University Press
Anon. (2004) Gambling. In The Columbia Encyclopedia. (6th ed) n.a: Columbia University Press
Anon. (2012) Gambling.In The Columbia Encyclopedia. (6th ed) n.a: Columbia University Press
Aumann, R. And S. Hart (eds) (1992) Handbook of Game Theory. Amsterdam: North-Holland.
Accounting -- Financial Statement Analysis
Comparison of gaming industry leader Ladbrokes PLC to William Hill PLC and then comparison of both those companies to the rest of the gaming industry reveals the burgeoning market of online/digital gaming. Comparison of the companies' histories, markets and ratios, shows a still-impressive industry titan Ladbrokes PLC being increasingly outgained by another market giant, William Hill PLC, and varying degrees of success among industry also-rans. It appears that the degrees of success or failure are intimately tied to the provision of online/digital gaming experiences to consumers.
Histories and Markets:
Ladbrokes PLC
In 1886 Messrs. Schwind and Pennington formed a partnership as commission agents primarily backing horses trained by Pennington at Ladbroke Hall in Worcestershire. In 1902 they were joined by Arthur Bendir, who named the venture "Ladbrokes" and shifted the focus from backing horses to betting against them, acting as bookmaker and punter (bet placer). The organization was purchased…...
mlaReferences
32 Red PLC, n.d.. About 32 Red. [Online]
Available at: [Accessed 9 April 2016].http://www.32redplc.com/about-32red/32red-strategy.aspx
BBC News, 2015. Ladbrokes to merge with smaller rival Coral. [Online]
Available at: http://www.bbc.com/news/business-33647635
benefit analysis of the proposed state lottery for Alabama. Assessing the costs and benefits of this lottery is challenging. The costs are ill-defined, and often lumped in with other gambling costs in general. Yet, lotteries are not the same thing as casino gambling or sports gambling. So there is a lack of hard data available. The benefits are clearer. These take into account the return on money already being spent by Alabamans out-of-state, and the multiplier effect of this new spending. For the state government, the lottery is a clear winner, but for the Alabama economy as a whole, the cost-benefit analysis looks less positive.
The state of Alabama is examining ways in which it can increase its revenues. One of the ideas that has been floated is that of a state-run lottery. In February 2016 a bill was passed that will allow the state to set-up a statewide vote…...
mlaReferences
Alabama Budget. (2016). Retrieved April 3, 2016 from http://www.budget.alabama.gov/pdf/2016/FY17GFHandout02-03-16.pdf
ALF (2016). Where the money goes. Alberta Lottery Fund. Retrieved April 3, 2016 from http://albertalotteryfund.ca/aboutthealf/wherethemoneygoes.asp
Allen, P. (1991). The allocation of lottery revenue to education in Florida, California, Michigan, and Illinois. Educational Policy. Vol. 5 (3) 296-311.
Boardman, Greenberg, Vining & Weiner. (2011). Cost-Benefit Analysis: Concepts and Practice. Pearson Education: Upper Saddle River, NJ.
National corporations own many chains, even though several others are independently owned but affiliated with a chain through a franchise agreement.
Types of Hotels
The U.S. Department of Labour (2004) denotes five basic types of hotels:
Commercial - These hotels operate year round and are primarily located in cities or suburban places. The larger properties offer an assortment of services for their guests, such as coffee shops, restaurants, cocktail lounges, gift shops, newsstands, theatre, health spas, swimming pools, etc.. Even larger hotels offer banquet rooms, ballrooms to accommodate wedding receptions; business meetings. Convention and business meetings provide major sources of revenue for larger hotels
esort - These hotels are primarily located in vacation destinations near mountains, the seashore, or other attractions. Nowadays, some resorts provide additional convention and conference facilities to stimulate their customers to combine business with pleasure. (U.S. Department of Labour, 2004)
esidential - These establishments provide a living quarter for permanent…...
mlaReferences www.questia.com/PM.qst?a=o&d=5001903567
Anderson, K. (2003, March). Time Out: Getting the Best Deal on a Vacation Time-Share. Black Enterprise, 33, 115.
Anderson, A. (1996). Timesharing- enviable growth lures major hospitality companies into industry. Hotel online. (Online). Available from URL: 30 October 2005).q www.questia.com/PM.qst?a=o&d=5012473252http://www.hotel-online.com/Trends/Andersen/Timesharing_EnviableGrowth.html ,(accessed
Brit Couple Killed as Timeshare Turf War Erupts in Tenerife; HUSBAND AND WIFE WORKED FOR MIDLAND CONMAN. (2006, January 15). Sunday Mercury (Birmingham, England), p. 3.
Crimes of Persuasion (2000). Deceptive Timeshare, Campground and Travel Club Sales. (Online). Available from URL: 3 November 2005).http://www.crimes-of-persuasion.com/Crimes/InPerson/MajorPerson/time_shares.htm ,(accessed
" (Illinois)
If one wants to verify the dangers of gambling one only needs to look at the statistics stating Las Vegas has one of the highest crime rates in the nation. People are desperate to get their win, they have lost everything and still believe that magic hand or slot is right around the corner and resort to robbing, stealing, fraud and other means to obtain gambling funds (Nauman, 2006).
Gambling is illegal in most areas of the nation. Law enforcement is charged with arresting those that break the law. In states across the nation gambling rings have been broken up and slot machines, video poker machines and roulette tables have been seized. The place for law enforcement with regard to gambling is to crack down on it and not turn a blind eye when they are aware that is going on. The children who do not have food or clothing…...
mlaReferences
Villa, Rod L. (2000) Corruption of police blamed on gambling.(Main News)
Manila Bulletin
____(2000) INTERNET GAMBLING:ROBERT J. MINNIX
Congressional Testimony
Vice refers specifically to crimes of a moral nature and usually refers specifically to prostitution, gambling, and also the dealing of drugs. Vice activities are defined differently by different communities and in general do not represent the laws of the nation or even of the state. Moreover, vice crimes are to be contrasted with crimes of a violent nature. Vice crime is community-defined; local laws generally reflect the social and political beliefs of its citizens as well as their expectations of the character of the jurisdiction. The town of Spurberry has a relatively low incidence of violent crime but vice crime is relatively common. Therefore, the Spurberry Police Department has had to beef up its vice squad in response to the growing needs of the community.
Spurberry is a mid-sized suburban town in the American Midwest with a population of 20, 371. The population is largely middle-class and mostly Caucasian. Spurberry…...
Online Casinos
Internet gambling is now the fastest-growing sector of the gaming industry, so much so that in the year 2000, it grew by 79%, compared to a 6.01% overall growth rate in the United States (Helping pp). Mark aters of GamblingSoftware.com, says, "Internet gambling is now bigger than gambling on Indian reservation, charitable bingo, legal bookmaking, and gambling on cruise ships" (Helping pp). The main reason for online gambling popularity is that gamblers can play any time in any location (Helping pp). Moreover, online gaming is probably the most sound business model on the Internet today, there's no inventory, no shipping, just customer relationship management, say aters (Helping pp).
Type in "online casinos" on Google, and 5,660,000 sights pop up. That's quite an array of opportunities for players, astounding actually, and players never have to leave their home or even change out of their pajamas!
On-line-Casinos-Online.net. (http://www.online-casinos-online.net/) offers a full slate of…...
mlaWork Cited
"Helping investors build their own online casinos for profit." Latin Trade;
11/1/2000
"Online Casinos."
q=online+casinos& btnG=Google+Searchhttp://www.google.com/search?hl=en& ;
Waterfront
STORY DIAGRAM FOR "ON THE WATERFRONT"
Framing crime drama: the police know that dockworker's union boss Johnny Friendly is involved with organized crime but cannot get any useful witness to snitch on him
Terry Malloy = Protagonist
Backstory: Terry was a promising boxer who "took a fall" (deliberately lost his match) on the instructions of his older brother Charley, who works for the dockworker's union. (Given the involvement of organized crime in sports betting, we are meant to understand Terry as one of the victims of Johnny Friendly's crime activities).
Turning Point / Act One Climax: Terry is used by organized crime in order to lure out another dockworker -- Joey Doyle -- who is preparing to snitch against Johnny Friendly. Joey Doyle is murdered.
Act Two begins with Terry's blossoming relationship with the dead Joey Doyle's sister, Edie.
The relationship means that Terry is now struggling with his conscience about whether to snitch on…...
The 2012 movie, Silver Linings Playbook, provides a rather correct view of numerous mental health-related aspects and the impact it has on families and relationships. Bipolar disorder-diagnosed Patrick Solitano Jr. is enrolled in an eight-month court-commanded psychiatric hospital intervention after viciously assaulting a man his wife was cheating on him with. This mood disorder is accompanied by manic episodes (discrete minimum-seven-day-long periods of uncharacteristically and continually cantankerous, elevated, or expansive moods). Symptoms include escalated self-esteem, reduced need to sleep, impulsiveness, and quick speech, accurately portrayed by Pat in the movie. This results in vacillating extremely good and extremely bad moods together with acute impairment and distress, necessitating rigorous, steady medications (American Psychiatric Association, 2013). Also, bipolar disorder patients typically have highly intense and charismatic personalities, as seen in Pat Jr. The character is quick to form an emotional bond with Tiffany, an unusual lady who is herself burdened by mental…...
mlaReferences
American Psychiatric Association. (2013). Diagnostic and statistical manual of mental disorders (DSM-5®). American Psychiatric Pub.
Bragazzi, N., Pezzoni, F., & Del Puente, G. (2014).Investigating aggressive styles and defense mechanisms in bipolar patients and in their parents.Health Psychology Research, 2(3). http://dx.doi.org/10.4081/hpr.2014.1546
Erikson, E. (1968). Identity: Youth and crisis. New York: Norton.
Erikson, E. (1982). The life cycle completed: A review. New York: Norton
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