Where there is money, there will always be corruption

"Online bookmaker sportsbet.com.au suspended betting on its market for Australia's flagbearer after Jackson was today sensationally backed from $4.50 into $1.50 favourite."

How would anyone know?

"Australia's chef de mission, Nick Green, today confirmed in a press conference that he had selected the flagbearer, with an official announcement to be made at a team function in London tonight (early Friday morning Australian time)."

Nick Green

How do you "cap" the flag bearer?

What research tools and analysis should one use when deciding on who you will bet on?

Have a camera outside Nick Greens room and see who he is binking at night? Could that be a tool?

The International Olympic Committee is investigating reports that an Irish athlete bet and won on an opponent during a pre-Olympic event.

IOC spokesman Mark Adams told the media that the athlete in question supposedly “bet against themselves prior to the Olympics." The Irish Olympic Committee is cooperating in collecting all information for the investigation and did not disclose the name of the athlete.

The Irish Independent is reporting that the athlete made two bets on an event in which they were competing, placing both wagers on the same opponent at 12-1 odds. The athlete reportedly won €3,900 ($4,800) and withdrew €3,600 ($4,435) from their account with a gambling operator after arriving home from the event.

The IOC forbids athletes from betting on Olympic events. Olympic Council of Ireland President Pat Hickey told reporters that if true, the athlete would face “severe sanctions” and could be dismissed from the summer games.

“This is fraught with legal issues,” explained Hickey, “and, right now, our priority is not to cause any unnecessary upset to the competitors.”

There are 66 Irish athletes competing at the 2012 London games.