Legal betting in sports

The other day, I was invited to appear on “FHM Sports Insider,” a daily five-minute show aired 6:30 a.m. and 10 p.m. daily on Solar Sports’ BTV channel. The episodes of the show, co-hosted by Jinno Rufino and Noel Zarate with a female guest (rotated monthly, June’s pick is Lia Cruz), are also accessible on demand via FHM’s website.

I proceeded to the 43rd floor of the RCBC Plaza in Makati for the taping. To my surprise, the studio wasn’t a studio but a room at the Megasportsworld headquarters. I soon found out that Megasportsworld had bought air-time on BTV for the daily show as a vehicle to promote integrated sports betting.

Before the taping, I was introduced to Megasportsworld head Francis Uy, a 43-year-old former Canadian Embassy trade attaché. Uy was born in Manila and moved to Toronto with his family when he was 13. He became a diplomat, was assigned at the Canadian Embassy in Vietnam then transferred to Manila in 2003.  

Uy toured me around the Megasportsworld office and explained the operations of the Pagcor-licensed gaming book. I was amazed at the pricey sports memorabilia displayed on the walls, in cabinets and on tables – a Pele autographed Brazil jersey, an NBA ball signed by Magic Johnson and Larry Bird, a poster of the Ali-Frazier “Thrilla In Manila” and lots more. Megasportsworld has about 40 employees, is managed professionally and uses modern technology to provide Filipino aficionados a legal way to bet on their favorite sports. It’s owning company is called Orient Capital Ventures which in turn, is affiliated with a HongKong gaming outfit.

Uy took a sabbatical from his diplomat’s work in 2007 to assist Hong Kong associates in putting together the Asian Poker Tour. One thing led to another and now, Uy has assumed responsibility for Megasportsworld which is the first integrated sports betting source in the country authorized by Pagcor.

“We offer our customers the option to either bet directly at one of our 20 outlets or branches or over the telephone,” said Uy. “We don’t do credit. Our transactions are all in cash. Bettors may go personally to our outlets or do tele-betting on telephone number 886-6180. They can open tele-bet accounts over the phone and via bank transfers or in person at Pagcor Parañaque, Pavilion, Heritage or Angeles City.”

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Uy said Megasportsworld is restricted to take bets only in the Philippines and not on the internet. “No internet betting yet,” continued Uy. “But bettors may check the odds in our website which is www.megasportsworld.com. Bettors have to be 21 years old or over.”

Under strict supervision by Pagcor, Megasportsworld will process bets only after a bettor fills out a bet request slip which will include details like age, sport, event, selection, game date, bet type and stake amount.

Megasportsworld began operating last November and so far, has generated a substantial customer base, noted Uy.

“We did a volume of about P10 million for Manny Pacquiao’s last fight against Joshua Clottey,” said Uy. “Of course, the betting was heavy for Manny although I recall a handful of bets for Clottey to win. Those who bet for Manny to win by knockout lost. Those who bet for Manny to win didn’t make much because of the odds but the rate of return was still better than what you earn from putting money in a savings account. The betting is heavy for NBA games, especially since now, we’re in the Finals. We take bets even when a particular game is going on. We operate something like a call center so we’ve got people ready to take orders at any time.”

Uy said Megasportsworld has a line of competent bet-takers who relay the odds to customers on each specific bet type.

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An example of a bet type is the full-time money line where a wager is made to win a game outright without handicapping. Another is the full-time run line or spread which involves handicapping. For instance, a punter places a P500 bet on the Phoenix Suns to win over the Miami Heat with this handicap – Miami +2.5 at 1.90 odds and Phoenix at -2.5 at 1.90 odds. If the final score is 98-96 for Phoenix, 2.5 points will be deducted from the Suns to adjust the count to 95.5-96 for Miami. A bet for Phoenix, therefore, loses. If the wager is for Miami, the final score will be adjusted to 98-98.5 with the Heat taking the plus so the bet wins.

Still another bet type is the full-time total or over/under where a wager is made on the combined scores of both teams. For example, a punter places a P500 bet on the combined goals of Manchester United and Arsenal to be under three in a football match. At the end of the game, the final score is a draw, 1-1. The combined score is, therefore, two or under the three goals in the odds for the match. The bettor wins. If the odds were quoted at 1.90, then the bettor claims P950 or P500 times 1.90.

Other bet types are a combo or parlay bet, push or draw, Asian handicap, outright winner or futures and round-betting. In boxing, round-betting is popular when a fighter is heavily favored to win. An example is when a bettor places a P500 wager for Pacquiao to knock out Erik Morales in the third round. The odds are 15.00 for Pacquiao to win in the first round, 15.00 to win in the second, 13.00 to win in the third and 2.50 to win in the 10th. The bettor wins P6,500 (P500 times 13.00) when Pacquiao knocks out Morales in the third.

Uy said the lowest bet taken is P100 and the average is about P4,000.

“The security of our clients and the integrity of our sports book are the fundamental drivers of the Megasportsworld experience,” said Uy. “We have the most advanced security measures available to assure you fair odds while providing a safe, error-free playing experience.” All the odds quoted by Megasportsworld emanate from overseas. The maximum profit limits in a bet on an NBA game, boxing, golf, tennis, NFL, baseball and soccer is P2.5 million, a PBA game is P500,000 and billiards, pool, snooker and motor sports is P1.5 million.

Uy said bettors may open their own telephone accounts through a membership program which offers opportunities to participate in special promotions, contests and rewards.    

Obviously, responsible betting is a governing conscience rule. An addiction to betting that leads to bankruptcy and misery is something you don’t even wish on your worst enemy. What Megasportsworld offers is a fun – and if you’re lucky, a profitable – way to enjoy sports in a perfectly legal betting experience.