Golf Betting Cheats and Scandals
A deep understanding and working knowledge of any sporting event is important if you are going to place any type of sports bet, and one of the most successful betting scams, if you can call it a scam happened way back in 1991 and made two men very, very rich.
Those two men were John Carter and Paul Simons, and both had a very deep knowledge of the game of golf and the betting industry in general.
Back in 1991 there were a huge number of much smaller independent bookmakers dotted around the UK, as opposed to most of them being owned by much larger companies as is now sadly the case. What those two punters had realised, is that most, if not all bookmakers are going to be offering odds on all major golfing events, however being smaller independent bookmakers, they may not have a full working knowledge of the likelihood of certain things happening in such events.
Therefore, they hatched a plan that would see them travelling around the UK and visiting those smaller independent bookmakers and asking for odds on any golfer in one of the major golf tournaments scoring a hole in one. Now to someone who is unaware of the chances of a hole in one being scored by any golfer in any golf tournament, they will be of the mindset that it is a very rare event, and that is what many of those independent bookmakers believed.
As the two men travelled around the UK placing such bets the odds they were offered were huge, often securing odds of 100 to 1 that a golfer in one of the major golf tournaments would score a hole in one. It may surprise you to learn that the true odds of that happening are around even money, and as such to be offered odds of 100 to 1 on an even money chance is every punters dream!
The result of this betting strategy they adopted was a massive win for them, for in total the bets they placed bagged them over £400,000 in winnings, and the best part of this true story is that all the bookmakers they placed those bets with paid them out their winnings in full.
The reason why they were paid out was obvious, at no time did they cheat the system and there was no suggestion what so ever that they had rigged the outcome of the golf matches, they simply used their knowledge of the game to their advantage and placed their bets and wagers completely legally and took the odds they were offered by albeit uneducated bookmakers across Great Britain!
The upshot of them pulling off that coup was that all bookmakers became aware of it and as such if you do ever now ask for odds on a hole in one being scored on any golf tournament, the odds you will be offered will be nowhere near the 100 to 1 mark, but what a betting coup that was and you do have to admire them for pulling it off!