I’m sure you have heard that the International Olympics Committee is planning on cancelling the upcoming Olympics in Russia. Many people have taken to the internet to express their discontent at the move. And rightly so too. After all the news coverage on the recent problems in the Chinese Olympic Program, with overpaying Olympic Athletes and officials, is simply disgraceful. So, why is it that some people are actually hoping for the Olympic Games to be pulled out of Russia as well?
For one thing, I can understand how someone might feel that having the Games in Russia is a privilege. Many of the countries which have sent their athletes to the Olympic Games over the last few decades have won just about everything they have been able to get. Therefore, for these folks, having the games go ahead and being successful is a sort of coming of age. Unfortunately, it’s hard to see this logic from someone who just lost thousands of dollars on an online sports wager.
Another reason why I find it hard to believe that the Russians are going to cancel the Olympics is that the overwhelming majority of the country itself is behind the decision. Whether you believe it or not, a clear majority of the population is in favor of the cancellation of the games. This is evidenced by the huge turnout numbers that have been observed at any of the previous Games. As I’ve written before, there are lots of reasons why betting on the Olympics would be a good bet and plenty of reasons why it would not be. So, when I say that it’s “looking like” the Chinese will win the games, I am not basing my argument on a “growing sentiment” in the Chinese community against the games.
In fact, there are more people supporting the games being held in China right now than supporting any sports event in China. That’s because the government has made it very clear that the country needs the gold for the Olympics, and they want it right now. There’s also plenty of evidence that indicates that the Chinese government has been looking at hosting the Olympics for years now. The only thing that has stopped them is financial problems – and the financial problems in the United States have affected the Olympic committee as well.
In other words, if the Chinese government had enough money, they would have pulled off this stunt years ago. I would also say that it is almost impossible for the US to cancel the games anyway. If the Chinese government had the money, they would still be planning on hosting the games. I mean, how much do you need for the games to go on?
The bottom line is that the reason why so many people are taking a bet on the Olympics being cancelled is because of the simple concept of mathematics. Let’s say that the Chinese get the gold, and then everyone else has to cover their bet against the Chinese win the games. So, everyone has a lose, and everyone has a tie. You can see how this will effect the direction of the price of gold. Of course, I don’t know the details, and I’m not an expert in this area. However, I do know that you should stay out of the money line for now.