The addiction gets on to the gamblers to such an extent that they fail to think wisely before acting. Their debt keeps building and it may reach an amount that exceeds their capacity to repay.. Over time, it becomes a habit, and eventually an obsession that can’t be overcome. This proves to be detrimental to their social and family life. In spite of the losses incurred, they continue betting. According to the National Research Council, 10 to 17% of the children of problem gamblers have been abused and so have 25 to 50% of the partners of problems gamblers.
? Children of parents who are problem gamblers or gambling addicts tend to feel abandoned and angry, further increasing stress and leading to strained family relations.
? The stress from gambling may lead to health issues like ulcers, stomach problems, muscle pains, headaches, and problems with sleep.
? Gambling can lead to criminal activities. Six to eight million people in America are estimated to have a gambling problem.
? Over time, the practice of gambling starts becoming a habit and begins to have damaging effects at psychological, physical, and social levels. Due to lost mental peace, they may ill-treat their spouse and children. Card games, coin tossing, and dice-based games are some non-casino based forms of gambling. It can drag you into crime, gambling isn’t fun.
Initially, one looks at gambling as a way to run away from life’s problems, or from stress, anger, and loneliness. Some go that way to forget the sorrow of losing big sums when gambling.
? Research has shown that gambling can lead to harmful behavior in people. The National Council of Problem Gambling (NCPG) describes this type of gambling behavior as problem gambling.
? A majority of those addicted to gambling have substance abuse disorders.
? An Austrian study said that around 1 in 5 suicidal patients had a gambling problem.
Compulsive gambling leads to bankruptcy
? They start borrowing money and take secret loans. The decision to gamble money is based on three parameters namely; how much to bet, the predictability of the event, and the conditions agreed upon, between the gamblers. The effect is similar to that of having a drug or a drink, which is why gambling changes one’s mental state and mood.
? Studies show that children with a sibling or parent addicted to gambling, are more likely to take to substance abuse.
? The addiction to gambling can leave one in bankruptcy. The addiction has negative effects on one’s physical and mental health and it proves to be detrimental to one’s social, personal, and professional life. The addiction robs a gambler of all the productive time and leads to loss of efficiency at work. Sports betting and arbitrage betting are the other types. The stress of risking huge amounts of money or the frustration after losing it can increase the tendency of abuse in gamblers. The skill of a gambler lies in weighing the three parameters and making a decision about what amount should be staked and how much should be expected in return.
? Substances of abuse are served at casinos and in pubs and clubs, thus increasing the likelihood of gamblers consuming them. The addiction leads people to continue with gambling irrespective of whether they earn or lose in the deal. They tend to stay away from their near ones, resulting in distrust between them and their loved ones.
? Gambling has proven to be addictive. On giving a serious consideration to the negative effects of gambling, we realize that it is best avoided.
? Gamblers often exhibit mood swings and a strangely secretive behavior. It causes a decline in his/her work performance, thus hampering his career.
? As gambling leads to increased criminal activities, in a way, gamblers add to the burden on prisons and the legal system.
Gambling refers to the betting of money on an event with an uncertain outcome, with the intent of winning additional wealth. It soon becomes a habit that can’t be broken.
? Gambling at the cost of one’s job results in a decline in the quality of his professional life. Some take to substance abuse to supplement the high they get from winning huge sums while gambling. In the following sections of this Buzzle article, we discuss the negative effects of gambling on the individual and society.
You could be at gunpoint or holding the gun. When they lose the money they had risked, they further gamble to recover the lost amount and it becomes a vicious circle even they can’t escape from.
Gambling = Thoughtless Expenditure + Waste of Time
? Additionally, rehabilitation and public assistance systems are taxed.
? According to a research by NCPG, 76 percent of problem gamblers are likely to have a major depressive disorder.
? Gambling is practiced as a means of recreation. Because of this, they land in worse situations and take the wrong decisions in life.
? People continue gambling with the greed of winning money. The greed never ends and they keep betting more and more. Thus, gambling can have a grave economic impact which is difficult to reverse.
? Problem gamblers and addicts tend to abuse their family members. Addiction to gambling, coupled with substance abuse can make the gamblers physically abusive towards their family. Thus, gambling practices cause a huge financial burden on the families of the affected and on the society at large.
? According to the University of New York, in people with alcohol use disorders, the chances of developing an addiction to gambling are 23 times higher.
? Addiction to gambling has been linked with substance abuse. The two go hand in hand. They engage in gambling activities at the cost of their time with family and friends. Rehabilitating the gambling addicts needs money and time, and the process is not very easy. Their mental state can even lead to suicidal tendencies.
? People who fall prey to gambling tend to remain away from their families and waste money on other bad practices. To add to the so-called merry atmosphere, gamblers often smoke or drink while playing.
? According to a study by the George State University, 50% of the problem gamblers commit crime. Betting is a mentally taxing activity, and as one goes on risking more and more money, anxiety starts building.
? The costs of treating compulsive gamblers are huge. It only leads to a thoughtless expenditure of money and valuables.
? Similar to how an individual keeps consuming substances like drugs or alcohol to experience an altered mental state, he continues to gamble. A recreational activity is supposed to be refreshing and relaxing, but something like gambling is contrary to the very purpose of recreation. A study by the same university suggested that 73% of the individuals who are imprisoned are found to be problem gamblers.
Mental and physical health problems, financial issues, and conflicts in the family are among the common negative effects of gambling. ? Apart from absence at work and drop in efficiency, a common observation is that gamblers tend to steal money and engage in fraudulent behavior to recover from financial losses incurred when gambling, or to get more money to bet.
Games offered in casinos, table games like poker, Red Dog, and Blackjack, as also electronic games like Slot Machine and Video Poker are some of the common types of gambling. Forget satisfaction or peace, it is not even refreshing in the real sense
Once you get good at picking machines, calling your bets, and playing to win, you have developed a game plan that will serve you not only in the online world, but also in the real life casinos of the Vegas strip. Yes, slot machines require some skill and planning. And remember, every coin has another side. Make sure you have done your homework, so you can call the shots on which you turn out to be. Yet every year, many citizens make a living in the hallowed halls of the casinos. Are you the kind of person that can reach a contented level with your winnings? Do you think one more turn of the one-armed bandit will be the difference maker that sets everything wrong, right? In other words, do you take unnecessary risks, or do you know when to say when?
Here are five advantages of playing free slot games online:
2. Play without risk. You can sit and play for as long as you would like, and never hear a word of unruly descent targeted your direction. By playing free slot machines, you can learn to control factors, which may or may not lead you to success in an easier environment than traditional casinos. By playing free slot games online, you never have someone breathing down your neck wishing that you would go away so they can have their turn. Of all the games out there, however, one of the best choices are free slot games.
There are a lot of great games online for you to play free of charge, especially if you are a casino person.
3. Target a game plan. One of the biggest drawbacks of playing in a real world casino is the shoulder-to-shoulder congestion that too often populates the players’ machines and tables. From free roulette games to free Keno games to free Poker games and all points in between, you can spend hours at a time having fun with your very own tailor made casino that doesn’t have to cost you a cent. Free slot games give you all of the real world slot machine action you can handle with precision accuracy.
1. Practice your skills. When there is no real money involved, there is no real risk. Most of the time, the house stands to win. This is definitely a good thing for casual and excessive online gamers. Before you get to that point, you will want to learn the nuances of any game in an environment that does not require you to ante up the money. And that is no gamble!
5. Learn something about yourself. How can something go right? How can something go wrong? The kind of gamer that asks these questions, and makes wise decisions will always be a winner at the end of the game. Planning you will hear about in a moment, but first focus on skills. How much will you wager? Is this slot game or that one working better for you? Approximately how many pulls does it take for you to produce a win?. Consider the advantages of playing free slot games online before you ever take a step toward the real thing. This is no big mystery. That’s why it’s called gambling. The more you play free slot games online, the more chances you have to win and lose. Pure luck produces more losers than it ever will winners. And with each win, and with each loss, you will learn something about yourself as a player and as a person.
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.
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 (www.SBSportsbook.com) 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
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.
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
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.
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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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
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.
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
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