But we, as sports fans, know that the mathematics of a sporting event is much more complex. Sports bettors deeply involved in their hobby will subscribe to weather bulletins from major cities that take part in their sport, making huge wagering decisions based on a few mph of wind in one direction or another. Then there’s the unknown—does a player get hurt in the first quarter? Does weather become a factor? Is a particular player “in the zone?”
Afterward, Hong Kong’s tax authority began to investigate the Woods syndicate. By law, gambling winnings were exempt from taxation, but company profits weren’t. The question was whether the syndicates had moved beyond conventional betting and started behaving like corporations. The implications would be dire if the Inland Revenue Department decided to tax profits retroactively. When agents asked Woods for a list of his investors, he fled to the Philippines.
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Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been unchanged since at least classical antiquity.