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Bookmakers Cash In on World Cup Upsets, Bizarre Bets Pay Out

Published: June 26, 2014 (Issue # 1817)



  • The bookmaking industry in Russia is still relatively young but is already nearing Western proportions in terms of the amount of money people are prepared to bet.
    Photo: V. Baranov / Vedomosti

A $50,000 bet on your favorite player becoming the top scorer at the football World Cup in Brazil or a wager on the probability that Uruguay's Luis Suarez will sink his teeth into an opponent again may seem odd, but these are real bets in an industry where mathematics supplements sheer luck.

Russians may not be quite so foolhardy or inventive in their bets, but the World Cup is seriously stoking their interest, with up to 50 percent more people betting on football than before the tournament kicked off, Oleg Zhuravsky, president of the Russian Bookmakers Union, said Wednesday.

The World Cup has been packed full of surprises so far, with a number of the pre-tournament favorites being knocked out by outsiders, wiping conventional bets off the table and rewarding bold punters with hefty payouts.

Who would have thought that Robin van Persie's beautiful diving header that leveled the score between the Netherlands and Spain would open the floodgates for a 5-1 rout of the former world champions? Or that Italy and England would have to fly home even before the knockout stages get under way?

The unexpected successes and failures of teams in Brazil have directly affected the bets that thousands of people are making worldwide.

"One punter bet 50 euros [$68] that Costa Rica will win the tournament at odds of 2,500/1 and that bet is looking a lot less like a long shot now than it did at the start of the tournament," said Joe Crilly, a spokesman for William Hill, Britain's biggest bookmaker.

He also said that when the favorites are eliminated, it is always good news for the bookmakers due to the liabilities that are racked up in the buildup to the tournament.

"But we always say that it is best for us if some of these fancied sides get further in the tournament and then fall at the penultimate of final hurdle," Crilly said.

Zhuravsky said that profits gleaned as a result of favorites exiting the tournament early may be high in the short run, but that in the end the margin levels out.

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ALL ABOUT TOWN

Saturday, Dec. 20


The city’s Babushkina Park on Prospekt Obukhovskoy Oborony will be invaded by dozens of rocking-and-rolling Santa Clauses during today’s Santa Claus Parade. Not only will they parade through the park but there will also be competitions amongst the festively-clad participants and a musical master class. There will also be a prize for the best-dressed Santa Claus.


Add to your record collection during the Vinyl Christmas Sale at the KL10TCH bar on Konyushennaya Ploshchad today. Spend the afternoon perusing the records for sale while listening the classic, clean sound of records spinning out hits from a variety of musical genres and time periods.



Sunday, Dec. 21


The Zenit St. Petersburg basketball team returns to the northern capital this evening for a matchup with Krasny Oktyabr, a Volgograd-based basketball club. Tickets for the game, which tips off at 6 p.m. this evening, can be purchased on the club’s website or at their arena, Sibur Arena, on Krestovsky island.


Satisfy your sugar cravings during Sweet New Year, an ongoing seasonal festival at the Raduga shopping center. Each weekend of December will welcome hungry visitors to taste hundreds of different kinds of desserts made from a plethora of sweet treats. Workshops are open to visitors and seasonal gifts can also be purchased for those rushing to finish their New Year shopping.



Monday, Dec. 22


Pick out the latest fashions as holiday gifts for loved ones or as early presents for yourself during the Christmas Design Sale at Kraft on Obvodny Kanal, starting on Dec. 20 and continuing through Dec. 27. Designer clothes will be on sale every day of the week or you can buy something more festive to decorate the home while sipping on hot coffee and perusing the various master classes.



Tuesday, Dec. 23


Meet Arctic explorers Fedor Konukhov and Viktor Simonov during SPIBA’s and Capital Legal Service’s event “Arctic Expedition” this morning in the Mertens House business center at 21 Nevsky Prospekt. The meeting will discuss the explorers’ ongoing eco-social project and how companies can use the project as a unique marketing opportunity. Email office@spiba.ru by Dec. 22 if you wish to attend.



Wednesday, Dec. 24


The Anglican Church of St. Petersburg we will be holding a Christmas Eve service at 7 p.m. led by Rev Wm. Shepley Curtis of the Episcopal Church. The service will be held at the Swedish Church at 1/3 Malaya Konyushennaya Ulitsa.



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