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ILS2325 Economics of Sin: Athletic Dishonesty

Illegal Gambling in Sports

Institutional Sanctions:

> Gives odds of winning/losing, which can then be bet upon

> Allowed to place bets on all sorts of things

   Such as: winning, losing, number of shots made, number of hits made, etc.

 

Economic Consequences:

> Lose money via betting

 

Psychological Consequences:

> Can become addicted

> Betting does not have a surefire method or formula to follow; it is more so

   just pure luck. That means there will be many times when general

   knowledge and intelligence does not matter, which can be frustrating. 

 

Sociological Consequences:

> Betting on odds means there is a likely chance of losing, which can lead to lose of

   money and general discontentment

 

Sources:

Slate.com

Baylor University

Illegal Gambling in Sports

Game Fixing in Sports

Institutional Sanctions:

> Won/Loss records affect attendance, championship aspirations, etc; therefore, ensuring

    wins via cheating means better business for the team in the short term

 

Economic Consequences:

> A losing record often means less fans attending games, less merchandise being sold,

  fewer television viewers, etc.

 

Psychological Consequences:

> Cheating can very easily be found out and lead to dire consequences

 

Sociological Consequences:

> A cheating athlete/team can lead to loss of trust with the fan base

 

Sources:

BBC

CNN

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