20 to 1

I’m not much of a gambler. I mean… I’ve lost my fair share of silly bets with my so-called friends, notably having to wear a t-shirt with an insult to Derek Jeter to a Yankees game in the Bronx (sorry… yes, I am a hard-core Evil Empire fan), so when I read about people getting arrested for World Cup betting, I was surprised.

I know, stupid me.

“More than 1,000 gamblers in Bangkok were arrested in a crackdown on illegal gambling during the World Cup. The Thai capital’s police force arrested 56 bookies or their associates and 1,156 gamblers who made bets totaling 3.4 million baht (105,000 dollars)”, reported AFP.

I was curious. How does one bet on the World Cup? Do you just pick straight winners? Are there like March Madness brackets? How do you make up for the “Round Robin” aspect of the group stage? Is there an over-under?

I thought the over-under concept could not work in soccer as beautifully as it does in "football". Not too many goals are generally scored, therefore not that much arithmetic (or excitement) would be involved (except that whoever had Portugal +6 over North Korea made some baht that day!)

So... I went on a quest, and learned that thanks to online sports wagering (For the record: ILLEGAL IN THE USA), World Cup betting is a world of infinite possibilities!

Which team would win the group? How far would a team advance? Would a team keep their opponent scoreless? How many goals would they concede?

And that is just the tip of the iceberg.

There are also tons of real-time bets, where one could be more specific, what will be the half-time score? Will a team draw at half-time and win at full-time? One of my favorite "live" betting options was to pick a player you think likely to score, and then you win if the player manages a goal during play.

And yes, there is a version of the over-under! Except that it is the least attractive option, since the “Under 2.5 Goals” is usually the bet of choice, therefore, the lowest pay-out.

Of all the ones I read about, my favorite was the bet on the final score. For example, in the Spain vs. Portugal match, Spain winning 1-0 was the favorite bet (9 to 2), followed by a 1-1 draw (11 to 2) and Spain 2-1 (15 to 2). If you rooted for a Portugal upset it had much better value, with a 2-0 Portugal win paying out at 20 to 1, a 2-1 win at 12 to 1, and a 3-0 victory at an awesome 66 to 1!

Doing my research on this "pressing" topic, I learned that there is also 'showbiz' betting!

Yes, you too can bet on WHO will be the "First to announce they are having a baby"? 14 to 1 Beyonce and Jay-Z - or - 66 to 1 Demi Moore and Ashton Kutcher? What will happen first under President Obama? 6 to 1 that online gambling would be legalized nationally or 12 to 1 that the legalization of marijuana would come first? The options are endless!

Online betting is legal throughout the United States ONLY for "Internet gambling on a game of chance." There are strict federal prohibitions on any form of sports betting, and many states have specific laws against online gambling of any kind (that 6 to 1 is not looking that good anymore is it?)

But back to the World Cup.

Pointing out the obvious, the straight-forward bet is who will be crowned champion. The latest odds read almost like the FIFA rankings, with Brazil 5 to 2, Spain 14 to 5, Argentina 9 to 2, Germany 7 to 1, Netherlands 15 to 2, Uruguay 18 to 1 and Paraguay and Ghana the underdogs at 40 and 50 to 1.

If you were smart (or dumb) enough to be in a place where betting was legal during the 2006 World Cup, you would have come out with a handsome wad of cash from your 19-2 bet on Italy to win it all.

Taking a lesson from the most popular of all US sports betting events, The Triple Crown,  I would put my money on the Dutch.

Super Saver and Looking at Lucky were 10 to 1 favorites when they won the Kentucky Derby and the Preakness respectively, and Drosselmeyer took the last leg, the Belmont Stakes, at 13 to 1 at the gate. So, I told everyone I was taking the Oranje next time I go to Vegas, and yet again, I was reminded by another so-called friend that I always lose. Whatever.

The hosting of the 2018 or 2022 World Cup is also out for betting, and the United States is not viewed in a favorable light.

The BBC put the US odds at 20-1, tied for seventh with South Korea and Japan, with England (11-8), Australia (4-1) and Portugal/Spain (4-1) as the top three. Only Qatar (33-1) and Indonesia (50-1) were listed lower than the US bid.

20 to 1? I like my chances. I am way overdue.

© 2011 Univision Communications Inc.