The Betfair Prof: "Acapulco has a certain magic, and it's not just the sun, sand and surf!"

The Betfair Prof / Leighton Vaughan Williams / 12 January 2009 / Leave a Comment

The Four Tops got it dead on when they declared that you'd be "Going loco down in Acapulco, if you stay too long. Yes you'll be going loco down in Acapulco, The magic down there is so strong".

Yes, the words and the music of that classic hit capture the essence of a place I had until several days ago only heard of. So what is its magic? Partly it's the history of a getaway associated with the golden era of Hollywood, when stars such as John Wayne, Red Skelton and Marilyn Monroe graced the mansions dotting the shores. It has also been home to the great golfer, Lee Trevino, was the honeymoon retreat of President and Mrs. Kennedy, and was a regular holiday idyll of Frank Sinatra. Today you are more likely to see Demi Moore, Julio Iglesias and Michael Jackson walking the streets.

And, of course, it plays host every day to hundreds of spectators lining the steep cliffs to see death-defying divers plunge head-first in to the swirling waters, judging the few seconds when the swell is just sufficient to save them from serious injury or death.

The temperature in the '80s in January, with barely a hint of humidity, doesn't harm the attraction of the place either.

An ideal holiday resort, in other words, but I was there for more prosaic reasons, to present a paper on public service broadcasting funding at a business and economics congress, to act as discussant for another paper on the Croatian economy, and to join round table discussions on the world economic crisis. Inevitably, though, the subject of betting, gaming and prediction markets came up, and I was able to share my passion for these themes with dozens of other conference participants from around the world - a passion which drove home to many of the Americans attending what they are missing in their own country because of their draconian restrictions on internet betting!

Mexico has a different attitude entirely and it was a delight to be able to turn on my laptop and trade on Betfair in a country whose border with its neighbour to the north marks the frontier between freedom of trade on the betting and prediction markets. I was also able to simply cross the road from my hotel to enter a plush environment where I was offered the opportunity to watch and bet on an array of sports including the horse racing on big screens live from Canberra, Jacksonville and Los Alamitos. To heighten the enjoyment, friendly waiters would bring you food and cold beers as you placed your bets.

It's true that many more Mexicans want to cross the border to work in the US than the other way around. For the visitor and especially for those who love the freedom to have a bet in a relaxed, friendly atmosphere, however, I can recommend what I found south of the US border.

Happy New Year!

Professor Leighton Vaughan Williams is the Director of the Political Forecasting Unit and Betting Research Unit of Nottingham Business School, Nottingham Trent University