Greedy Gambling Monopolies
World Cup 2006 sees some European nations gambling monopolies continue to rip of the punter says Niall O'Conner from The Betting Market
Lack of competition, or a monopoly situation will almost certainly lead to bookmakers taking liberties with the percentage to the house. I have read reports that gamblers playing in the greedy state-run Swedish onland casinos, get the value odds to play with around the 70% mark on video-poker. Yes, I said video-poker, not slot machines. This was word of mouth, I have not been to Sweden.
Niall O'Conner recorded the overround for the World Cup betting odds offered by Swedish and German gambling monopolies. With greedy 24% margins weighted to the house and no competition allowed to take a view and even out the overround, Niall has proven to me the Swedish punters are being taken for mugs, by law.
