Gambling can be a fun way to make a little extra money on the side, there are load of ways that you can start gambling. You can easily go and a visit a casino, or if you prefer you could just go gambling online – whether you visit something like Low Deposit Casinos or simply place a few sports bets online. However, those who are in it to win some big money are often tempted to cheat. Here, we run through some of the biggest gambling scandals to date.
Sir William Gordon-Cumming
The first recorded high-profile example of cheating while gambling involves Kind Edward VII believe it or not. Based in London in the 1890s this story begins at a social gathering at the home of magnate Arthur Wilson, where then Prince Edward and his friend Sir William Gordon-Cumming were taking part in traditional card game Baccarat. Sir William was accused of adding chips to his bet after the cards had been revealed; once he was sure that he would be multiplying his money, which resulted in some significant winnings for him. People soon started to notice but Sir William denied it profusely. The case was taken to court and because Prince Edward attended, it was one of the most famous court cases to date. Sir William was forced to agree to never play cards again. During that era reputation was extremely valuable therefore to be accused of cheating was a very serious accusation and Sir William was not only ostracized by his friends, but also dismissed from the military.
Chicago White Sox
Placing bets on sports has been a tradition for many years and is one of the reasons why the main sporting events, like the Superbowl or boxing championships, attract such huge audiences. Players have the ability to heavily influence the outcome of events and therefore, there are often temptations for them to do so in order to win more money than they would have earned by simply winning. One example of this is during the 1919 World Series where the Chicago White Sox played the Cincinnati Reds and astounded everybody by losing. An investigation was launched, and it was found that eight of the players had conspired to lose the game in order to make a profit. The scheme involved notorious gangster Arnold Rothstein. The eight players involved were banned from playing professional baseball ever again.
Our third example is centered around the up and coming world of electronic sports. Korean millenials in particular are very fond of electronic gaming, and huge competitions are taking place to find the best players. In 2015 it was found that some of the best South-Korean players acted exactly as the Chicago White Sox had, and ended up making millions based on their insincere performances in a game called Starcraft II. Eight people in total were given prison sentences for their financial crimes including one boy who was just nineteen years old.
It is important that the gambling scandals are exposed as unfortunately a few individuals are ruining the reputation of an industry which should be seen in a positive light. Gambling was designed to be a fun way to take risks with potentially life-changing pay-outs, not to be a way to exploit others. For more financial news, take a look at theregoesdave.com.