Month: September 2016

“How to Choose the Right Sportsbook!”

Read press articles as opposed to reviews – reviews are usually written by the sportsbook’s marketing team.

Test run the software by joining and playing for free – most sportsbooks offer this facility.

Find out if your funds are insured or separated in ESCROW accounts so that if the sportsbook company goes under – your funds are still safe.

Find out if the sportsbook is independently audited.

How long has the operation been online – three to four years is usually a good marker as a minimum.

Test out the customer services to see if they meet your standards or the standards they promise you.

If you know about betting already, then check some of their odds and lines – are they in keeping with what you would expect? Some less scrupulous sportsbooks offer very attractive prices to lure unsuspecting bettors. Often these website owners know nothing about betting, do not hold accounts with the sportsbooks they are advertising and have not researched the companies they are involved with.

If you have already have an account with a sportsbook watch out for lapses in customer service and slowness of payment – these can be signs that the company could be in trouble.

Happy betting!

You are keeping your money in an account online. But ask yourself ; “how easy is it to get access to my money and how much does it cost?”

The UK has a number of established books including William Hill, Ladbrokes, Coral, and Victor Chandler. Sometimes this means added solidity.

What are the deposit and withdrawal options and the associated charges.

This article was posted on October 22, 2004

<< Back to “Recreation And Sports” Index

I would say that US bettors are at most risk since they are generally forced to bet at offshore sportsbooks due to legality issues.

Find out if the sportsbook is part of a larger group of companies. King

It is not that easy finding a reputable sportsbook – partly because the web is populated by website owners who will sing the praises of a sportsbook or casino simply because they earn revenue from signing up customers via an affiliate program. I have had at least three online sportsbooks go broke on me – luckily my losses were kept to a few thousand dollars – that may sound a lot but it could have been a lot worse.

So you have decided to start betting online – or maybe you just want to find a new trustworthy sportsbook – what do you need to look out for?

Not all the above are critical – but help towards finding a secure book. It is, therefore, critical that those US customers put in the research before signing up.

“How to Choose the Right Sportsbook!”

 by: Daniel B. Therefore you should think of the sportsbook you are considering as a bank – a place that you intend to keep funds long term.

Well I am in a position to speak from some experience – I did at one time hold accounts with about sixty bookmakers in Europe, UK, Australia and offshore – the latter catering mainly to the US market. I also like SportingBet ( who take US customers and cater for global sports.

So what do you look for: . The offshore books with whom I work are top grade but it is in the offshore environment that problems occasionally occur. These vary quite a bit from book to book. Options should be available that are ‘free’ or where the sportsbook absorbs the charges

UBS Writes Down Positions, Predicts an Overall Loss in Third Quarter, and Reorganizes Management

Within the

Investment Bank, IBD has gained market share, the capital markets

business remains strong, and equities revenues –

though a bit weaker this quarter than a year ago, and in the context of

extremely difficult conditions – remain


There are other, smaller, losses in equities proprietary trading within

an overall satisfactory result.

Mr. These securities are either AAA-rated or High Grade, and have a

short weighted average life.

Marcel Rohner, Group CEO, said: “UBS operates on the principle that

management is accountable to shareholders. UBS’s financial businesses employ more than 80,000 people

around the world. Overall, FIRC

will record negative revenues in the order of CHF 4 billion.

Our first quarterly loss in nine years is an unsatisfactory result,

especially after such a strong first half. Management action has been taken to

make certain these positions are appropriately valued and risk managed.

“On August 14, I said that if turbulent

conditions prevail throughout the quarter, we will probably see a very

weak trading result in the Investment Bank, offset by predictable

earnings from wealth and asset management. Scoby has a BS from Wharton School and an MA from the

University of Pennsylvania, both earned with honors in a total of four

years of study and awarded in 1987.

Within the Investment Bank, Money Markets, Currencies and Commodities

(MCC) will be integrated into Fixed Income under the leadership of Andre


Mr. There is also a smaller position of below USD 4 billion net

exposure to sub prime securities through warehouse lines and retained

CDOs. For most

sub prime holdings, this is not possible. He is a Swiss citizen. Scoby began his career with O’Connor and

Associates in 1987 and became a Managing Director in 1993. I have also made

appropriate senior management changes, and will accelerate

already-planned changes to the firm. Following these actions, UBS is in

a strong position to continue to grow its client businesses.

While the third quarter loss means that pre tax results for the full

year 2007 will most probably be below those for 2006, total earnings

should still be at a high level and UBS will finish the year in a strong

capital position.

When most mortgage backed securities positions were set up there were

offsetting positions in place, designed to mitigate risk in normal

market conditions. He also chairs

the Swiss Institute for International Studies (SIAF).

William Ferri is the Head of Business Development and Logistics for

Alternative and Quantitative Investments (A&Q), an alternatives platform

within Global Asset Management.

Management changes

. I have therefore taken

decisive action to be as transparent as possible. We have thousands of

talented people throughout the organisation who, by working together,

will deliver further value to our clients and additional growth to our


Mr. The one firm approach requires a

successful and profitable Investment Bank. It has offices

in 50 countries, with about 39% of its employees working in the

Americas, 34% in Switzerland, 16% in the rest of Europe and 11% in Asia

Pacific. He received a BS form Cornell University in

1988 and a JD from the University of North Carolina in 1991.

Commenting on these changes Marcel Rohner said:

Short bio Joseph Scoby

With effect from today:

Mr. Suter has been with UBS and its predecessor, Swiss Bank Corporation,

since 1974. From 1996 until the merger of SBC

and Union Bank of Switzerland in 1998 he served as regional manager of

the Zurich-Eastern Switzerland-Ticino area for the corporate and

commercial banking activities of SBC. Global Asset Management continues to perform well. Mr. He is a member of the

Global Asset Management Executive Committee and a member of the UBS

Group Managing Board.

UBS is one of the world’s leading financial

firms, serving a discerning international client base. Its business,

global in scale, is focused on growth. Joseph Scoby’s record both as

head of A&Q and previously as Joint Head of US Equities within the

Investment Bank makes him an ideal successor to Walter Stuerzinger. Group

CFO Clive Standish to retire

– Marco Suter, Executive Vice Chairman, UBS, to become Group CFO

– Walter Stuerzinger, Group Chief Risk Officer (GCRO), to become

Chief Operating Officer (COO), Corporate Center

– Joseph Scoby, Global Head of Alternative & Quantitative

Investments, UBS Global Asset Management, to become GCRO, UBS

Investment Bank changes:

– Robert Wolf, COO, Investment Bank, additionally appointed

President, Investment Bank

– Money Markets, Currencies and Commodities (MCC) to be integrated

into Fixed Income

– Initiation of cost reductions in Investment Bank

Walter Stuerzinger, Group Chief Risk Officer (GCRO), will become Chief

Operating Officer, Corporate Center, and hand over the GCRO position to

Joseph Scoby, currently Global Head of Alternative and Quantitative

Investments (A&Q), Global Asset Management. However, the deterioration in the US sub prime

residential mortgage backed securities market, especially in August, was

more sudden and more severe than in recent history, and markets became

illiquid. These positions consist overwhelmingly of

AAA-rated tranches, 80% with a weighted average life of less than three

years. All other businesses in the Investment Bank, and our

Global Wealth Management & Business Banking and Global Asset Management

businesses, continue to record good results. Between 1999 and 2005 he was Group Chief Credit Officer and

a member of the Group Managing Board. A&Q currently has over USD

60 billion in assets under management.

Joseph Scoby’s first task as a member of the Group Executive Board will

be to review and refine our risk processes. Ferri began his legal career practicing corporate law at Seward &

Kissel, from 1991 to 1995. Suter was born on 7 May 1958. Wolf also participated as a panel member at

the inaugural Wall Street forum for HIV and AIDS alongside former UN

Secretary Kofi Annan.

Mr. His long experience and knowledge of UBS, including as

Group Chief Credit Officer, make him extremely well qualified for this

position. Scoby’s

experience includes portfolio management in commodity options,

convertible arbitrage, equities, equity derivatives, corporate bonds,

merger arbitrage, quantitative equity, real estate finance, and

fundamental based equity long short funds. Clive Standish, Group Chief Financial Officer, will retire.

In addition, UBS has taken significant write downs on positions in Super

Senior AAA-rated tranches of CDOs, based on level 3 valuation models.

UBS has only limited exposure to leveraged lending with commitments of

about USD 13 billion. Huw Jenkins, Chairman and CEO of the Investment Bank,

will step down from his position and become a senior advisor to Marcel


Marco Suter was elected to the Board of Directors at the Annual General

Meeting of UBS in April 2005 and thereafter appointed as Executive Vice


ZURICH & BASEL, Switzerland–(BUSINESS WIRE)–Regulatory News:

UBS has no material exposure to conduits.


Third quarter results

Despite the unsatisfactory results for the third quarter, we still

expect to end the year with a good level of profits and in a strong

capital position. Ferri joined the UBS Investment Bank in 1998

as Director of Equity Compliance. He originally worked for PaineWebber

Inc. Mr. Mr. Its shares are listed on the SWX Swiss Stock Exchange,

the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).

Results for third quarter 2007 will be announced on October 30, 2007 as


The marks take a cautious view of future developments in the US mortgage

market and UBS is content to hold these securities at this level of


These write downs are mainly of (a) legacy positions of the now closed

Dillon Read Capital Management subsidiary and (b) positions entered into

as part of the Investment Bank’s mortgage

backed securities business.

Short bio Marco Suter

Robert Wolf is the Chairman & CEO of UBS for the Americas. We have a strong balance sheet, a strong franchise, and

leading positions in all businesses in all regions. (since 1995) where positions held included Corporate Vice President

and Associate General Counsel to the Global Equities Division, and

Deputy Director of Compliance.

Following a write down of positions in fixed income, rates and

currencies (FIRC), mainly related to deteriorating conditions in the US

sub prime residential mortgage market, UBS is likely to record an

overall Group pre-tax loss of between CHF 600 million and CHF 800

million for third quarter, ended September 30. He is married with two children.

A video containing an interview with Group CEO Marcel Rohner is

available at as

well as at

Previously, he was General Counsel for the O’Connor

hedge fund and fund of fund businesses, and was on the O’Connor team at

its relaunch in 2000. Wolf graduated from the Wharton School at the University of

Pennsylvania with a B.S. Suter first joined the bank in 1974 as an

apprentice at SBC’s St. In fact, conditions remained

turbulent, so we will make an overall pre-tax loss at Group level for

the quarter.

The remaining relevant positions in direct sub prime RMBS have a current

net value of USD 19 billion. UBS remains a formidable

competitor in financial services and is well positioned to deliver

long-term profitable growth.”

Continued strong performance in other business areas

Working closely with other members of the management team and the key

investment professionals within A&Q, Mr. This led to substantial valuation losses, including in

securities with high credit ratings. These have also been written down appropriately,

leading to a limited loss on these positions in third quarter.

Short bio William Ferri

As a result of the planned changes within the Investment Bank, overall

staff numbers will fall by about 1,500 by the end of this year.

“I am confident that, with these changes and

by properly absorbing the lessons of this quarter, we will become a

stronger bank. Ferri has overall

responsibility for managing the logistics platform and business

development effort of the group, ensuring the investment team’s

requirements are met while maintaining the appropriate control

infrastructure. A

glossary, containing definitions of some of the less-well known terms

used in today’s release, is also available at


UBS is present in all major financial centers worldwide. Mr. From

1995-1999 he was the Joint Head of US Equities at the Investment Bank,

with responsibility for approximately 650 employees. As an integrated firm, UBS

creates added value for clients by drawing on the combined resources and

expertise of all its businesses.

Marco Suter, Executive Vice Chairman, UBS, will leave the Board of

Directors to become Group Chief Financial Officer, and join the Group

Executive Board. Pre-tax profits for the

first nine months of 2007 will be in the order of CHF 10 billion. He served as Global Head of Fixed Income from

2002 – 2004, having joined the firm in 1994

after spending approximately 10 years at Salomon Brothers.

Commenting on these decisions, Marcel Rohner, Group CEO said:

Mr. Marcel

Rohner, Group CEO, will reorganize senior management, take over as

Chairman and CEO of the Investment Bank, and accelerate structural

improvements to the firm.

Where possible, holdings are marked at the quoted market price. Wolf is on the Undergraduate

Executive Board of the Wharton School and sits on the Athletics Board of

Overseers at the University of Pennsylvania. Prior to his appointment to his current position in 2004, Robert

Wolf was Global Head of Fixed Income for over three years.

In addition to his roles at UBS, Mr. During 2008 we will continue

to focus on improving cost and balance sheet efficiency.”

Joseph Scoby is Global Head of Alternative and Quantitative Investments

(A&Q), an alternatives platform within Global Asset Management with

approximately USD 60 billion in assets under management and 360

employees around the globe. He has also been the head of O’Connor,

a specialist hedge fund provider within A&Q, with assets under

management of approximately USD 7.5 billion. He also has extensive

experience in solving institutional and corporate client problems using

derivatives. in Economics. In Global Wealth Management &

Business Banking, all geographical regions continue to attract net new

money. In

Switzerland, UBS is the market leader in retail and commercial banking.

In the third quarter, UBS will recognize substantial losses in FIRC

within the Investment Bank, mainly on its holdings of securities related

to the US sub prime residential mortgage (RMBS) market. Mr. He also

serves as Global Chief Operating Officer for the Investment Bank.

Short bio Robert Wolf

Marcel Rohner, in addition to his duties as Group CEO, will for the

foreseeable future take over the role of Chairman and CEO of the

Investment Bank. Ferri is also responsible for managing the product

pipeline, business development, sales and client services.

Robert Wolf, Chairman and CEO, UBS Group Americas and Chief Operating

Officer Investment Bank, will additionally become President, Investment

Bank. William Ferri, currently

Head of Business Development and Logistics for A&Q, will be appointed as

the new Global Head of Alternative and Quantitative Investments.

UBS is the leading global wealth manager, a top tier investment banking

and securities firm, and one of the largest global asset managers. Valuations therefore mostly

use models with observable inputs, where possible, and level 3 valuation

models otherwise.

All other UBS businesses remain strong. He is on the Executive

Leadership Council for the Multiple Myeloma Research Foundation, on the

Board of Trustees for the Children’s Aid Society, the Board of Directors

for the partnership for NYC and on the Board of Directors for the

National Sports Museum. Gall office and later broadened his experience

with assignments in Nyon, New York, Basel, Zurich and London.


In third quarter 2007, expected pre-tax loss for the Group between

CHF 600 million and CHF 800 million, due mainly to write downs and

losses in the FIRC business within the Investment Bank

For the first nine months of 2007 pre-tax profits for the Group in

the order of CHF 10 billion, and expect to end the year with good

level of profits and a strong capital position

All other businesses in the Investment Bank, as well as the Global

Wealth Management & Business Banking and Global Asset Management

business groups, performing very well

Management changes:

– Investment Bank Chairman and CEO Huw Jenkins to step down. Mr. Wolf is a member of the UBS Group Managing Board and the Investment

Bank Management Committee. These events have led to the

management changes announced today. Prior to that, he held various

management positions in SBC’s investment banking operations, first as

the Continental European Head of Merchant Banking and later as the Chief

Credit Officer for EMEA

How Top Stop Gambling Tip #4

If you are looking to stop gambling and have not had success in the past, visit her site today.

I need to state, however, that if you return to gambling after you stop gambling that the Gamblers Anonymous support group is still very accepting of you when you come back to a meeting.

In stop gambling tip #4, you want to look into a support group that will assist you in your decision to quit gambling. Although stopping gambling can be done alone through a strong conviction and good self-help program, group support can be a welcome addition to your treatment plan.

Stop Gambling Tip #3: Plan out your day, in 15 minute increments if you have to. Remember, you have decided to stop gambling, and each morning you need to remind yourself of this.

Secondly, many people benefit from a group setting and can help themselves better with the support of a group. Remember that self-help as well as group help is really a powerful combination and should definitely be considered as one of your solutions to stop gambling.

Author’s Bio: 

This 12 step group does not encourage a return to gambling, however, the group members want you go go back to a meeting without feeling judged so you can continue in your mission to quit gambling.

Thirdly, there is accountability to others besides yourself after you join a Gamblers Anonymous 12 Step program. Make sure all waking hours are covered.

Group support is truly important as a tip in how to stop gambling. Stick to your schedule rigidly. You will know that if you go back to gambling after you quit gambling that you will need to let your group members know.

Stop Gambling Tip #1: Admit that you have a gambling problem first, and make the decision to want to stop gambling.

Stop Gambling Tip #2: Make a decision each morning that you will not gamble that day.

. This can deter you from a gambling addiction relapse because you will not only not want to dissapoint yourself, but disappoint the group as well.

Michelle Tee is a self-help coach and author on the subject of gambling addiction . Gamblers Anonymous is a good place to start, and there will most likely be at least a few Gamblers Anonymous groups in your nearby area.Why would you need a support group to help you stop gambling? For one, many of the Gamblers Anonymous veterans have learned how to stop gambling over time, and are living proof that life is better after you quit gambling.

This is the next section of my series on how to stop gambling tips. Just to review the first 3 tips

How To Get Offshore Oil Rig Jobs With No Experience

Work hard and smart for one to two years, and you could be promoted to a roughneck. Worldwide, $400 billion will be spent in 2009 looking for more oil… Unlike most physical jobs, you actually have a pretty good career path. A certified welder could make $60,000 working on an offshore oil rig. This could get you highly paid jobs in the electrical department or motor room. Large oil companies like Exxon spend $79 million everyday looking for new oil fields. Instead, go for a certified trade like an electrician or mechanic. In this line of work, you want to look for entry level roustabout jobs. You will be doing a lot of hard, dirty work and heavy lifting. With the amount of money being spent in the oil industry, you can bet that there will be offshore drilling jobs available to a fit, hardworking young man.

Offshore oil rig jobs are like any other career – you start at the bottom and work your way up. Offshore drilling companies like Transocean are still deploying new oil rigs and hiring workers. The different requirements are not just across countries, but also across US state boundaries and Canadian provincial boundaries.

For most jobs on an oil rig, university degrees are useless pieces of paper. You’ll be doing more of the same physical work, but you will also lead a team of roustabouts. Depending on where the oil rig is located, you may need vaccinations, first aid certifications, offshore survival certifications, firefighting certifications and helicopter underwater escape training certifications. You will also get the chance to help the derrickhands and drillers, giving you the experience to be promoted to a driller yourself.

Even without experience, getting offshore oil rig jobs is easier than getting a job as a rocket scientist. Offshore oil rigs legally count as ships at sea, so you’ll want to find out how the different laws affect you. Start with an entry level job, prove yourself, get promoted.

Are you looking for offshore oil rig jobs and oil rig employment? Click here to learn how RigWorker can help you to quickly and easily find offshore drilling jobs.

Article Directory:

You can still find offshore oil rig jobs even in the middle of this recession. Don’t forget to check with a good tax lawyer – at one point of time, there were very good tax incentives for people taking up offshore jobs. Good cooks and medics are two other entry level positions always welcome on an oil rig.

By: Calvin Loh. Even though the Department of Labor will call you a general laborer, you’ll be earning somewhere around $45,000 a year, better than some white collar jobs.

Remember to read up a little bit on maritime law. Even though OPEC is complaining that oil at $40/barrel is too cheap

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Advice :: Internet Addiction |

They watch their loved ones morph into someone else. The addicted individual withdraws from real people and becomes more focused with individuals they know online. They often make excuses to stay home more, but when they are home, they may seem apprehensive or depressed until they can find a good reason to go online.

Fighting Internet Addiction

Internet addiction is a very real condition that affects households worldwide. If you try to talk to them, you will be ignored.

They want complete privacy when they are online. The best time to act is now. They must not only endure the emotional “mess” they must clean up after their loved one.

It’s fairly easy to spot internet addiction. Hyde.” They are horrible to live with offline, but as long as they have that connection, they are relatively normal.. Internet addiction has taken so many years to become established due to the disbelief many have over its legitimacy. This can be skyrocketing bills from gambling or substances.

Any addiction becomes an actual “addiction” when it negatively affects the lives of both the addict and all those around them. They see the mood swings and make excuses to others. It often requires professional help to break internet addiction.

The greatest tragedy to it all is that those around the addicted individual are the real victims. This form of addiction is completely psychological. It may be issues at school with children. What is it that causes this? What are the symptoms? Many people mistakenly believe it’s merely a penchant for checking email or losing track of time while playing a game. They may exhibit personality qualities much like “Dr. Many will not even stop to talk with people who are visiting. It may be a private method for indulging in what is actually a gambling or pornography addiction. Some may have complete alter identities through the internet. Many internet addicts, however, aren’t classified with any of these more typical vices. The “fix” is pretending to be someone else. The most important step is to force the individual to see there is a serious problem. Internet addiction is completely curable and there’s no reason to endure it any longer.

There are individuals who like to use the internet as a method of escape from their daily lives. Internet addiction is not the same and it’s consequences can be far more devastating. Most internet addicts do have an ulterior motive for being online so much. Substance abusers may find it easier to purchase their drug of choice through the internet. It may be serious problems in the workplace due to inattention or inactivity. Jekyll / Mr

Derivatives: Futures and Options

Forwards and futures prices are good reflectors of the price directions as well as the expected change in the future prices of the underlying asset.

They offer the traders an option to change the nature of their liabilities and exchange the risks associated with some of their unwanted liabilities with some more bearable ones.

They can be used to make arbitrage profits. While spot is an immediate, present tense contract, a forward is a later date or future tense contract that is just being finalized today. The value of your option to either buy or sell the shares of this company, derives its value from the actual market prices of the underlying asset, in this case, the shares of company XYZ. Being traded on exchanges robs the futures of the customization that is available on forwards, but on the other hand, as exchanges play clearing houses in the transaction, futures have relatively lower credit risk.

Learning about derivatives is one of the most important lessons to learn, for anyone making new forays into investment finance. These are normal financial instruments where you just buy or sell shares of company XYZ (for $20 each, if market value equals the intrinsic value). Know their uses and advantages, their drawbacks as well as their various types, namely forwards, swaps, futures and options.

What is the Derivatives Market?

Certain exotic types like Cacall, Caput, Barrier options, etc., lure investors with the greed of returns, but what happens many a time is that, traders fail to see the complexity involved in them. So for once, a financial instrument has been named correctly, an instrument that derives its value from some other asset is termed as a derivative.

Options are basically of two types, a call option and a put option. When investing in these instruments, be aware of the risk that you are taking on with that kind of leverage.

When they are used for hedging, they perform exceptionally well but when used for speculation, it is not prudent to rely too heavily on them. Options are not limited to the exchange traded derivatives markets and some are also traded on the OTC markets.

Futures contracts are derivatives very similar to forward contracts, with the main difference being that while forwards are traded OTC, futures are traded on an exchange. Hull in his 1999 book titled ‘Options, Futures, and Other Derivatives’.

Mastering these instruments can make you a millionaire overnight, but it is good to understand them first. They are very good risk management tools and are mainly used to hedge risks that a trader is routinely exposed to. By definition, they are financial instruments that derive their intrinsic values from the underlying asset that they are based on. Futures are also agreements to buy or sell commodities at a certain predetermined price at some predetermined time in the future. In a put option, the option will thus, only be exercised if the strike price is higher than the going market price at that specific point of time in the future. You’ll know then, why all traders haven’t mastered the art yet and become overnight millionaires. Think about it and you’ll know why so many have gone down while betting on these instruments. On the other hand, forwards, swaps, and CDS are usually traded on the over-the-counter (OTC) markets. He either takes on another risk in return or makes a cash payment in exchange for the risk transfer.

Instruments like forwards and futures play a key role in giving directions to the market prices of the future. On the other hand, a put option gives the buyer the right but not the obligation to sell a certain asset at an agreed price (strike price) by a certain date in the future. Last but not the least, they lend monetary power to the traders, for they can take large positions in the stock market with the minimal amount of cash, i.e., by just paying the premium amounts.

Interest Rate Swaps

Interest rate swaps are also derivatives for they too derive their values from the underlying debt instrument. The term futures encompasses all things like foreign exchange futures and stock index futures as well. Marginal swings in the value of these shares can leave you with the outcome – ‘Investment – $100 and Total Loss $100, 000′. How else is it possible that just investing $10 should help you take positions worth $1000. Inexperienced options expire once their time duration ends and it is only the premium paid for buying the option that exchanges hands between the two parties.

These markets happen to be of two types. Options are fantastic in their ability to cater to every possible need of the stock market trader. Two or more options can be combined together (synthetic options) to give the trader just the kind of payoff he was visualizing, given his forecasts of the future price movements on the stock exchange. First the futures and options are traded on the exchange traded derivatives market and are standardized instruments with negligible credit risk. On the other hand, with a short position (agreement to sell), your payoff will be the differential between the spot price of the commodity then and the futures price that you have agreed on (S – F).

Uses in Investment Finance

They are simple financial instruments. There is no monetary transaction to the contract when it is first negotiated, and money only changes hands on contract maturity. When you hold a long position in a forward contract, i.e., you have agreed to buy the underlying commodity at the agreed price, your payoff will be the differential between the forward price and the spot rate at that point in the future (F – S). Not understanding how they work and investing large sums of money in them blindly is a folly. Since it is the ‘right but not the obligation’ to buy an asset, it is obvious that the call option will only be exercised if the strike price is lower than the going market price for the underlying asset at that certain time in the future. A call option gives the buyer the right but not the obligation to buy a certain asset from the call option writer, by a certain date and for a certain price, known as the strike price. For example, if a party has a fixed rate payment obligation and another one has a floating rate one, the two can swap their interest obligations with each other without settling the underlying debt.

Options Contracts

Understanding Futures and Options. The intention is to buy low and sell high in two different markets and pocket the differential profits.

They allow for large portfolio position changes without incurring the buying and selling transaction costs.

Forwards Contracts and Futures Contracts

By definition, a forwards contract is ‘an agreement to buy or sell an asset for a predetermined, fixed price, at a certain time or date in the future’. But when you have a derivative option on the shares of this company, you are basically holding a financial instrument that has no intrinsic value of its own. These non-standardized financial instruments bear some amount of credit risk, since no exchange interferes between the buyer and the seller. Plain vanilla swaps, or the least complicated of swaps, allow two parties to swap their interest obligations. Research them and you will find a very grim picture, more houses have been broken with these instruments than have been built. Be careful and ask all the right questions before you bring out the cash.

Since most of them involve the play of big money with very little in the way of initial investment, most people fail to foresee the impact they can have on their total funds. While most financial assets have intrinsic asset values or prices, the intrinsic value of a derivative is based on the financial asset that forms the basis of a derivatives contract. Arbitrage profit opportunities are those opportunities that allow for risk-free, zero net investment profits, by capitalizing on price differentials on the same commodity in different markets. These are extremely powerful instruments and though, ‘no guts no glory’ does summarize the ‘higher risk, higher potential return’ mantra of investment finance; having open positions in them is never prudent. If you wish to play the stock markets, they offer an unbelievable amount of ground to play in, especially when it comes to hedging and risk management. Futures and options trading is fantastic as a risk reducing measure (hedging), but may not be equally fantastic as a speculative bet, especially when you do not have the required expertise, neither in derivatives nor in forecasting.

Below are some of the uses as listed by John C. They offer the trader, the option of passing on some of the risk that he’s bearing over to another party. They can be used to hedge open positions in stocks and this makes stock trading safer. Lack of knowledge coupled with greed, turn them into your worst possible nightmare. Here’s and example of an underlying asset.

Shares of company XYZ have an intrinsic value of $20 each. Many an investor have fallen to greed in this market, for everyone else, it is a risk management boon.

Whether futures and options, or swaps and forwards, all require careful and deliberate study. They are a boon for the hedgers but not always so for the arbitrageurs and speculators.

A point to note here is that, while futures and forwards are obligatory buy and sell contracts for the holders, options are rights and not obligations that the holder can choose on whether to exercise or not. The only difference between them and the normal financial instruments (like shares), is just the little term called ‘underlying asset’. For many, what they invest in these instruments are their savings so you can only imagine the impact.

Many investors fail to understand that investing in them means indulging in a kind of leveraging. Even though you have invested only $100, the position that you had taken in the market was on $10000 shares. But before you start thinking about having bigger yields out of these instruments, know a little more about them. Forwards contracts are over-the-counter contracts that usually trade on commodities. The only difference between a normal spot transaction and a forward transaction is the time span between the contract and its fulfillment. For many of these instruments, small changes in the underlying asset can swing your fortunes from millionaire to bankrupt within seconds

FBI Probes NBA Referee’s Alleged Betting

Clayton cited a 2005 estimate by the National Gambling Impact Study Commission that found $380 billion is wagered on illegal sports betting, compared with $2.25 billion in legal sports betting in Nevada.

“As we previously stated, we have been cooperating with the FBI in their investigation of allegations that a single NBA referee bet on NBA games that he officiated,” commissioner David Stern said in a statement Friday afternoon.

“At this point, it’s too early to know if any games were affected,” Avello said, adding that no regulators or investigators had contacted him about the case.

Gambling long has been a problem in sports, and leagues have made a point of educating players of the potential pitfalls. “Any type of suspicious or unusual movements, you usually hear in the industry. We’re so regulated and policed, any kind of suspicion would be discussed.

Although asked by the government not to comment, Stern said the naming of Donaghy prompted a fuller statement.

Nevada gambling regulators were not involved in an investigation and had no information about the allegations, said Jerry Markling, enforcement chief for the state Gaming Commission and Gaming Control Board.

“The allegations were new to us,” said Mark Clayton, a control board member. The NBA, for example, discusses gambling at rookie orientation, even bringing in former mobster Michael Franceze to speak.

Veteran oddsmaker John Avello, at the Wynn resort on the Las Vegas Strip, said that without specific information it would be difficult to identify wagering irregularities over the last two seasons.

. He also worked 20 playoff games, including five last season.

Defense attorney John Lauro confirmed Donaghy is under investigation but refused to comment on the allegations or the case.

The FBI probe, which began recently, also involves allegations that the referee had connections to organized crime associates. “Those are people that you work with and that you literally — you spend more time with those people than you do with your family.”

According to the Elias Sports Bureau, Donaghy officiated 68 games in the 2005-06 season and 63 games in 2006-07. “I think it’s a good thing that Las Vegas has the type of regulation that makes sure that bad things don’t happen.”

NBA commissioner David Stern had long objected to putting a team in Las Vegas because it permits betting on basketball, though earlier this year allowed Mayor Oscar Goodman to submit a proposal to owners on how the city would handle wagering on a team if it moved there.

“I’m shocked, terribly shocked,” said Gary Benson, an NBA official for 17 years who retired two years ago because of knee problems. The official, who did not identify the referee, is familiar with the investigation but was not authorized to speak publicly about the ongoing investigation.

“We haven’t seen anything like that in the NBA that I can remember,” he said, “and we haven’t been contacted by anybody.”

Markling, in Las Vegas, said he learned of the probe from news accounts.

“You have a lot of acquaintances and very few friends. “However, we will continue to monitor them to ascertain whether there is any connection to Nevada’s licensed sports books.”

The investigation first was reported Friday by the New York Post.

“We would like to assure our fans that no amount of effort, time or personnel is being spared to assist in this investigation, to bring to justice an individual who has betrayed the most sacred trust in professional sports, and to take the necessary steps to protect against this ever happening again.”

The law enforcement official said the bets involved thousands of dollars and were made on games during the 2005-2006 and 2006-2007 seasons.

“We’re the only regulatory agency in the world that really looks at unusual activity as far as the movement of the line and that type of conduct,” he said. … I probably worked a handful of games with him overall, just a handful.”

“Whispers would have happened on the street, and we would have heard something,” Kornegay said. Other arrests are expected, the official said.

Jay Kornegay, executive director of the sports book at the Las Vegas Hilton, said he had never seen any unusual activity in NBA betting, and was surprised not to have heard about an investigation until Friday.

The referee had a gambling problem, according to the official, and was approached by low-level mob associates through an acquaintance.

According to a law enforcement official, authorities are examining whether the referee made calls to affect the point spread in games on which he or associates had wagered.

NEW YORK –  The FBI is investigating allegations that veteran NBA referee Tim Donaghy bet on basketball games over the past two seasons, including ones in which he officiated.

Benson said he didn’t work with Donaghy much.

Goodman argues that legalized gambling, monitored by the Nevada Gaming Commission, prevents these types of suspicious activities.

Kornegay said legal sports betting in Nevada represents a fraction of sports betting worldwide, with 98.5 percent of all action taken outside the state.

The law enforcement official, who spoke to the AP on Friday on condition of anonymity, said the referee was aware of the investigation and had made arrangements to surrender as early as next week to face charges

Nevada legalizes online gambling – CBS News

It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.

The benefit for other states, he said, is Nevada’s “most mature regulatory infrastructure.”

“It’s imperative for the success of this that we compact with other states because we don’t have a universe of players,” Ernaut said.

“This was a lot of work and it couldn’t have been done without the governor’s leadership and vision,” he said.

Horne, in turn, had equal accolades for the Republican governor.

Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount. Senate and Assembly judiciary committees approved it, sending it to the Assembly where it passed unanimously. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.

Gambling regulators will now come up with regulations dictating compact parameters.

. Sandoval had pushed for companies that want to offer online gambling to pay a $500,000 fee, while Horne, in the original bill draft, proposed $1 million.

Sandoval, a former chairman of the Nevada Gaming Commission added, “This bill is critical to our state’s economy and ensures that we will continue to be the gold standard for gaming regulation.”

Horne couldn’t resist at jab at Nevada’s gambling rivals.

CARSON CITY, Nev. “Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”

AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker. Gov. New Jersey Gov. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency measure.

“We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players,” he said.

“As to our competitor, New Jersey, they should be accustomed to following Nevada,” he said.

Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.

He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.

Lawmakers in 2011 passed a bill that put Nevada in position to legalize Internet gambling if the federal government sanctioned it. The Senate passed it at midday and sent it to the governor’s desk for signature.

AG Burnett, chairman of the Nevada Gaming Control Board, said the state already has about 20 applications from various operators, equipment and software vendors to be licensed for online gambling.

Several other states began looking into online gambling after the Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on gambling over the Internet, only applies to sports betting.

“This is an historic day for the great state of Nevada,” Sandoval said, flanked by dozens of state lawmakers.

The measure makes Nevada the first state in the country to approve interstate online gaming, notes CBS Las Vegas affiliate KLAS-TV, adding that it was put on the fast track Thursday. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.

The bill approved Thursday resolved a disagreement between Horne and the governor’s office over licensing fees. A renewal fee was set at $250,000.

Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.

Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada’s expertise in gambling regulation.

Nevada wanted to beat New Jersey, its East Coast casino rival, to the online gambling punch

Baseball Handicapping Formula – How To Become Great at Baseball Handicapping

It is better to be lucky than be good, right. Anyone can create a formula and start using it, but it has to be tested. Many get lucky but luck only happens occasional. I am a true believe that anyone can be the best baseball handicapper if they so desire. The only way to fully grade a handicappers picks is over the entire season.

The best baseball handicappers in one who thoroughly follows the game, uses a proven system along with all those miscellaneous variables to determine their selections. There is no government rating nor is there any real tracking system. There is no license or certification required. My feelings on this are not one individual can be giving that title. That is the easy part just about all handicappers claim to be the best.

I would define the best baseball handicapper a one who is truly knowledgeable on the sports. Part of being a good handicapper is promoting yourself as one. The only way to test a formula is to use through an entire baseball season. A good handicapper will take all this information and plug into their handicapping formula.

Now a proven winning formula is mandatory. Baseball handicapping is not all based on skill. Remember to distinguish the difference between just lucky and picking the right side.

The fact is anyone can claim to be good at baseball handicapping. Follow the game, use a proven baseball betting formula, there are many available. They must be up to date with all trades, injuries, trends and current statistics. For effective baseball handicapping you need to follow a formula. Don’t confuse being lucky for being good.

Just what is a baseball handicapper? According to Wikipedia: Baseball Handicapping is the practice of assigning advantage through scoring compensation or other advantage given to different contestants to equalize the chances of winning. Luck has a lot to do with it. A handicapper that just picks games without close examination is one that I would avoid. You just start analyzing ball games and select your winners. Be consistent with your bets and use proper money management and you will the best baseball handicapper.

Now you are probably reading this article because you want to know who is best. This formula must be battle tested. Baseball season is very long and there are many ups and downs for every team. You might have a nice run for a week, start thinking you have the best system in the world then lose the next 10 games. Then there are the side variable such as weather conditions, disputes among the players sand mental state of the players. Let’s make it simple and say that a baseball handicapper is a person that analyzes two baseball teams and attempt to picks the winner.