Check this out. Someone at the PR firm for TIME Magazine decided to use some inside info to make a little money. Yes they were betting/predicting who would be TIME magazine’s person of the year. The people who made these bets are obviously rookies to placing bets when the bookie is at a disadvantage. Lets see where they went wrong. Maximum allowable bet?! Are you kidding me. If you ever wanted to draw suspicion to yourselves, congratulations.

They could’ve bet half that and done it 3 or 4 times more. It would not have triggered the alerts that a max bet would. Hey next time you PR firms want to use inside information to make money off of offshore sportsbooks ask for some obvious advice. Geez. You guys could’ve been raking it in, laughing all the way to the copy machine. But no, you had to blow it. How about spreading your bet across multiple sportsbooks? Well maybe you did that. I hope so. Its called diversification.

Note: I do not bet on sports. Anymore. Haven’t in years. 8 years precisely. Long before sports wagering was common online.

Sportsbook.com, the world’s largest online sportsbook, has been forced to halt wagering on Time Magazine’s Person of the Year and Sports Illustrated’s Sportsperson of the Year due to suspicious betting activity. Upon further investigation by Sportsbook.com, the first and only sportsbook to offer odds on the annual designations, it appears employees of a public relations agency linked to Time Warner have used inside information to place the maximum allowable bet on this year’s winners.

On the afternoon of Friday, December 2, a number of suspicious wagers, originating primarily from New York and New Jersey, were posted on Mother Nature to be named Time Magazine’s Person of the Year for 2005. These wagers have been traced back to e-mail addresses of a New York-based PR agency that lists Time Warner as one of its clients.

This decision followed on the heels of similarly suspicious betting activity on the 2005 recipient of Sports Illustrated’s Sportsperson of the Year. Since the odds were posted on the annual designation several weeks ago, numerous wagers from the same sources for the maximum allowable bet were placed on New England Patriots quarterback Tom Brady. Later in the evening of December 2, a leak emerged that Tom Brady would, in fact, be this year’s
winner.

Source

–Brilliant.

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