Point Shaving

In organized sports, point shaving is a type of match fixing where the perpetrators try to prevent a team from covering a published point spread. Unlike other forms of match fixing, sports betting invariably motivates point shaving. A point shaving scheme generally involves a sports gambler and one or more players of the sports team favored to win the game. In exchange for a bribe, the player or players agree to ensure that their team will not cover the point spread. The gambler then wagers against that team.

Basketball

Basketball is a particularly easy medium for shaving points because of the scoring tempo of the game and the ease by which one player can influence key events. By deliberately missing shots or committing well-timed turnovers or fouls, a corrupt player can covertly ensure that his team fails to cover the point spread, without causing them to lose the game or to lose so badly that suspicions are aroused. Although the NCAA has adopted a zero tolerance policy with respect to gambling activity by its players, some critics believe it unwittingly encourages point shaving due to its strict rules regarding amateurism, combined with the large amount of money wagered on its games. The NCAA has produced posters warning of this, the most notable being an athlete sitting alone on a bench with his face buried in his hands although this may also look like the athlete suffered a tremendous defeat with the caption DO NOT BET ON IT with warnings as to what could happen if they are involved in such a plan as well as an athlete being caught gambling himself .

Famous examples of this are the CCNY Point Shaving Scandal of the 1950-51 and the Boston College basketball point shaving scandal of 1978-79, which was perpetrated by gangsters Henry Hill and Jimmy Burke.

Sports Point Shaving

The technique has been used by both amateur and professional athletes in many other sports. The intention is to manipulate scoring so that the final score results in a predetermined outcome. A typical sports game should always tend to behave in a nondeterministic manner. In other words, the exact final score of a game exists in a set, which can contain more than a thousand possible combinations. Furthermore, nondeterminism suggests that the final score of a sports game is practically unpredictable.

Many variables can influence the outcome. Such variables include weather, fatigue, and human error. However, amateur and professional athletes who are very skilled in the technique of point shaving can consistently create unlikely outcomes in bad weather and other challenging conditions. These unlikely outcomes tend to create huge financial gains/losses in prediction markets.

The deviation from the mean, otherwise known as the expected value, is what makes these outcomes so unlikely. In most sports, the expected value is a mathematical prediction that can be expressed as a scoring differential. This scoring differential is also calculated by casinos; and, gamblers generally refer to it as a point spread. In many cases of point shaving, the final outcome deviates substantially from the expected value, or the point spread. Additionally, the deviation from the expected value can be quite large. Many times, the deviation is so large that athletes on opposing teams must cooperate in order to achieve the desired result. In this particular case, the final outcome is commonly referred to as a thrown game.

Table Stakes Rules

All casinos and many home games play poker by what are called table stakes rules, which state that each player starts each deal with a certain stake, and plays that deal with that stake. A player may not remove money from the table or add money from his or her pocket during the play of a hand. In essence, table stakes rules creates a maximum and a minimum buy-in amount for cash game poker as well as rules for adding and removing the stake from play. A player also may not take a portion of their money or stake off the table, unless they opt to leave the game and remove their entire stake from play. Players are not allowed to hide or misrepresent the amount of their stake from other players and must truthfully disclose the amount when asked.

Common among inexperienced players is the act of "going south" after winning a big pot, which is to take a portion of your stake out of play, often as an attempt to hedge one's risk after a win. This is also known as "ratholing" or "reducing" and, while totally permissible in most other casino games, is not permitted in poker.

Table stakes are the rule in most cash poker games because it allows players with vastly different bankrolls a reasonable amount of protection when playing with one another. They are usually set in relation to the blinds. For example, in a $1/2 No Limit cash game, the minimum stake is often set at $40 while maximum stake is often set at $200, or 20 and 100 big blinds respectively.

This also requires some special rules to handle the case when a player is faced with a bet that he cannot call with his available stake.

Chips Poker

Poker chips are fabricated with complicated graphics and edge spot patterns intending to make them difficult to counterfeit. The process used to make these poker chips is a trade secret and expensive - typically done on high pressure compression molding machines. The typical material of construction for poker chips is not clay as is sometimes believed, but a ceramic material with clay added for texture and weight. The breakable, clay poker chips of the 1960s and 1970s are no longer manufactured. The clay composition of modern chips varies by manufacturer, and is typically very slight (1-10%).

Casino poker chips are special tokens representing a fixed amount of money. The chips used in American Casinos generally weigh 10 grams each. The chips sold for home use vary much more, depending on manufacturer and construction.