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Sports betting carries several risks. Betting on one’s own sport, or on any sport during a multi-sport event such as the Olympic Games, can lead to a conflict of interest, as athletes, their entourage members or sports officials could take advantage of their inside knowledge of the competition. Similarly, athletes who bet on their sport might be tempted to fully or partly manipulate their competition in order to achieve financial gain. Athletes may also be pressured into not doing their best by entourage members, who might have directly or indirectly bet on the competition and thus be looking for a specific result. Of even more concern is that athletes or their entourage could become targets for criminals looking for a way to launder money.


Since 2006, the IOC Code of Ethics has prohibited all accredited persons at the Olympic Games from betting on Olympic events. Furthermore, all participants have an obligation to report any approach or suspicion of manipulation. Specific rules are drafted for each edition of the Olympic Games.


Athletes, coaches and other stakeholders can be involved into integrity issues in some specific cases. This situation could be present high risk when they find themself in weak social situation and they suffer from lack of financial resources.


The FB-LS project aims to improve financial and business literacy among athletes and coaches. We prepared some educational materials and also self-evaluation tool to evaluate your financial situation.


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1. Can athletes, coaches and other actors in sports be subject to manipulation?

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2. Can athletes go bankrupt?

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3. Can athletes get into financial trouble due to poor financial management?

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4. The social status and a poor financial situation don’t have any influence on abuse and manipulations.

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5. What does match-fixing mean?

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6. What falls within the scope of manipulation?

  1. Bets
  2. Manipulation of sports competitions
  3. Corrupt behavior
  4. Abuse of internal data
  5. Non-reporting (omission of duty)
  6. Refusal to participate in the hearing

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7. Which two documents at the international level define the prevention of the organization of sports competitions and related abuses?

  1. UNESCO Children’s Rights Declaration
  2. IOC Code on Prevention of Manipulations of Competitions
  3. WADA Anti-Doping Rules
  4. Council of Europe Convention on Prevention of Manipulation of Sports Competitions

8 / 21

8. Can athletes and coaches participate in sports betting?

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9. What are the restrictions regarding participation in bets for athletes?

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10. If you are asked to manipulate the results, you should not inform anyone about it.

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11. How can you take care of your financial and social security?

  1. I educate myself about personal finances
  2. I track my expenses each month
  3. I prepare a financial plan for myself and I stick to the plan all my career
  4. Over time, I learn what sensible and safe investments are
  5. I don’t waste the money I win through prizes, sponsorships, scholarships… but I try to save it and enrich it with investments
  6. I ask experts who have relevant references for help
  7. I do not follow rash and hasty decisions
  8. I do not respond to every initiative that is supposed to bring extremely high returns
  9. I invest in proven systems with guarantees and warranties
  10. I invest only in financial products and investments which are fully regulated by national authorities and European Union.

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12. During their active career, athletes don’t have to think about the time after their career because they should only focus on achieving top results.

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13. An athlete’s competitive career may end prematurely due to injury and other sudden situations.

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14. How long is the average athlete’s career in which he can generate the most wealth?

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15. Is this time of the average athlete’s career shorter or longer than the average employed person?

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16. How can athletes save the funds they earn during their career?

  1. By saving at the bank
  2. By saving in mutual funds
  3. By investing in indexes (ETFs) and stocks
  4. By buying precious metals
  5. By purchasing real estate
  6. By investing the money in sports betting
  7. By purchasing bonds

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17. Does it make sense for an athlete to invest?

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18. Athletes do not need to work after the end of their competitive careers.

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19. How should you manage your finances?

  1. When I receive an invitation to very profitable deals, I always check the provider, guarantees, what is underlying products, references of the providers and if financial products and investments are fully regulated by national authorities and European Union.
  2. I always take the opportunity to invest, even if I am not quite sure about the safety and success.
  3. I invest only if I understand the financial product or investment.
  4. At the start of my career, I do at least 5 interviews with different financial advisors and choose the right one for me.
  5. I have financial advisor with whom I work. He is coaching me about personal finances, and he is analyzing all my suggestions for portfolio.
  6. I can only trust verified experts.
  7. I spend my wealth wisely and avoid inappropriate use, unnecessary investments, spending money for fun and luxury.
  8. I am happy to treat myself to expensive clothes, jewelry, or sports cars.
  9. I always lend money to family, relatives, friends, without any agreement on repayment or insurance.
  10. I don’t always have to entrust my finances to my parents, guardians, as they may not have enough knowledge to manage finances.
  11. I invest large sums of money because teammates tell me about a good offer, and I also want to be part of the “gang”
  12. I will completely manage all investments and personal finances myself. I don’t need any additional skills or experts.
  13. I choose a good team of proven financial management experts, as we also do at the club, where we train and have our own expert for each area.

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20. What negative influence can fame, and money have on athletes?

  1. Spending too much money which can lead to a bad financial and social situation.
  2. Making many new sincere friends
  3. There is no negative impact, because with money and fame athletes can buy everything they need.
  4. Successful athletes will always earn enough and don’t have to worry about the future.
  5. When getting into financial trouble, dealing with it yourself and being responsible for your own bad decisions.

21 / 21

21. How can you recognize a bad investment or a potential scam?

  1. The investment is ambiguous, complicated, and difficult to understand.
  2. No direct access to the way the investment is managed and how it works.
  3. The team managing the investment doesn’t want to be identified.
  4. Promises that a business will rock the market in a few years and will generate an annual return of over 30%.
  5. No presentation of the investment and no hardcopy of the terms and conditions, but only a contract and payment order
  6. Investment salespeople who constantly give expensive gifts
  7. The investment should be kept on the low level and not discussed it with anyone.
  8. The contract is written in a foreign language or very complex to understand.
  9. Everyone keeps quiet about the previous rates of return.
  10. You only have a few days or even hours to make a decision.
  11. The investment sounds too good to be true.
  12. You get your family, friends and colleagues tangled up by association.
  13. You don’t know the competences and credibility of the person and company offering the investment.
  14. Financial products and investments that are NOT fully regulated by national authorities and European Union.

Your score is

The average score is 33%