CHAPTER ONE
INTRODUCTION
1.0 Introduction
Sports betting, typically involves odds or point spreads that affect the bet or the payout. A bet with odds of five-to-one means that a winning bettor will collect five dollars for every dollar bet. With a point spread, one team is favored by a certain amount of points (the amount is set separately by each gambling outlet). For example, if a bettor decides to wager on a team favored by 12 points, then he or she wins only if that team wins the game by more than 12 points. If there are no odds or point spread given, then the wager is known as an even-money bet (betting five dollars to win five dollars). There are many other types of sports wagers, including combination bets, depending on the sport and the specific regulations that apply to it. To effectively manage betting, there are pool centers and they make use of software systems to do the betting [1].
People love to bet, and every week they will go to their local bookies and fill out a football coupon, maybe even have a score cast or first goal scorer in the hope that they can win quite a large amount in a short period of time. Football betting is all about betting against bookmakers. It is different from betting against other people the way most people do. It is also different from pools betting. Bookmakers are betting companies that provide the platform for betting activities. They also provide the prices and expected winnings on each football match. All you need to do is to determine the outcome of a particular match or a series of matches. You don’t need to predict the exact Score line. Of course there are bets where you can predict the exact Score line and we will talk about that later. The price per match will be determined by how hard it is. The easier the match, the lesser the potential returns. The harder the match, the higher the potential out come. Assuming Manchester United wants to play Wigan Athletic at Old Trafford, we all know there is a very high likelihood that Manchester United would win. The money you are expected to win if you say Manchester United will beat Wigan will be very small. In fact, very small. On the other hand, if you say Wigan will beat Manchester United, then the expected monetary returns would be high. It will be high as well if you say it will end in a draw [2].
1.2 Statement of the Problem
The following problems were identified:
- Many betting houses do not have their own computerized system that will enable them compute winnings and losses of football game bets.
- They are totally dependent on online service
- Pool houses also need automated systems to manage the record of pool players on a daily basis. Without such system, the management of the pool will be less effective.
To solve these problems, there is need for an automated football bet management system.
1.3 Objectives of the Study
The aim of the study is to develop a computer-based pool management system with the following objectives:
- To develop a database application that will aid the registration of the bets of pool players.
- To implement a system that will provide financial reports of the daily income and expenses in the pool.
- To implement a system that can be used to query the winners and loosers of the pool bets.
1.4 Significance of the Project
The significance of the study is that it will provide a computer based pool management system that will aid in the inputation and retrieval of vital information on daily transaction. This will aid better management of the pool house. The study will also enable management to query for winners and losers of bets daily. In addition the study will serve as a useful reference material for other researchers seeking similar information.
1.5 Scope of the Study
This study covers computer based pool management system, a case study of system pool Ikot Ekpene. It is limited to the management of financial records of bets.
1.6 Organization of the Research
This research work is organized into five chapters. Chapter one is concerned with the introduction of the research study and it consists of, theoretical background, statement of the problem, aim and objectives of the study, significance of the study, scope of the study, organization of the research and definition of terms.
Chapter two focuses on the literature review, the contributions of other scholars on the subject matter is discussed.
Chapter three is concerned with the system analysis and design. It presents the research methodology, analyzes the present system to identify the problems and provides information on the advantages and disadvantages of the proposed system. The system design is also presented in this chapter.
Chapter four presents the system implementation and documentation. The choice of programming language, analysis of modules, choice of programming language and system requirements for implementation.
Chapter five focuses on the summary, conclusion and recommendations are provided in this chapter based on the study carried out.
1.7 Definition of Terms
Bet: An agreement that the person who incorrectly predicts the outcome of a future event will forfeit something, usually money, to another.
Pool: Form of gambling in which the participants contribute an amount to a common fund that is divided among the winners.
Gamble: To bet a sum of money on the outcome of an event or competition
Coupon: A detachable part of a bond that indicates a date and the amount of interest paid on that date. The holder must present it in order to receive payment of the interest.
