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The science behind sports and casino promotional events

02.23.2012     02:07 PM     Printer Friendly blog entry.
Interesting article on a company that provides insurance for sports and casino promotions – Hit a Half Court Shot and Win a Free Car is just one of many examples. They actually calculate the odds and probability of each event occurring and pretty much bet against it.

"If we don't have winners, we have no business," Hamman says in a voice that's deep as mud. He pauses, then adds, "But if we have too many winners, we also have no business."

"We had one guy, a Russian immigrant who would travel from college gym to college gym buying off selectors to get himself picked for the basketball-shooting contests," says Hamman. He won as much as $15,000 -- or so he thought. The man was slick enough to befriend the event organizers and pay off the right people to be "randomly selected" but not smart enough to use an alias. When his name showed up on two different claim forms, SCA knew it had a ringer.

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