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Comparing Shohei Ohtani to Pete Rose: Dodgers standout cleared of betting allegations

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Shohei Ohtani is no Pete Rose. At least not yet. For one thing, as accomplished as Ohtani is at baseball, his career 684 hits pale in comparison with Rose’s 4,256, the most of any major league player. More pertinent to the news cycle is that Ohtani hasn’t been accused of betting on baseball, or betting at all. Rose famously was banned from baseball for life in 1989 by then-Commissioner Bartlett Giamatti (yes, Paul’s dad), whose investigation concluded that Rose had bet on major league games as a player and as a manager. Rose, 82, remains popular with fans but his attempts at reinstatement have been unsuccessful. He also is barred from the Hall of Fame. Ohtani, 29, doesn’t appear to be in any such peril.

However, as The Times first reported, the new Dodgers superstar was uncomfortably close to a gambling operation. His representatives accused his longtime interpreter and friend, Ippei Mizuhara, of engaging in a “massive theft” of Ohtani’s money allegedly used to pay off millions in gambling debts Mizuhara owed to a bookmaker. Ohtani’s representatives muddied the waters by first telling ESPN that the two-way star covered Mizuhara’s gambling debts and making Mizuhara available to provide that version of events in an interview, only to later renounce Mizuhara’s account and allege theft. The Dodgers fired Mizuhara on Wednesday. During the interview that ESPN reported as lasting 90 minutes, Mizuhara said, “I want everyone to know Shohei had zero involvement in betting.”

Gambling by MLB players is strictly prohibited under Rule 21, which is posted in every clubhouse in English and Spanish and acknowledged in writing every year by every player. The rule addresses all sorts of misconduct, including a player not giving his all, giving a gift to an opposing player or an umpire, and committing a violent act on another player or umpire. As for gambling, Rule 21 has three parts: (1) Any player, umpire, or Club or League official or employee, who shall bet any sum whatsoever upon any baseball game in connection with which the bettor has no duty to perform, shall be declared ineligible for one year. (2) Any player, umpire, or Club or League official or employee, who shall bet any sum whatsoever upon any baseball game in connection with which the bettor has a duty to perform, shall be declared permanently ineligible. (3) Any player, umpire, or Club or League official or employee who places bets with illegal book makers, or agents for illegal book makers, shall be subject to such penalty as the Commissioner deems appropriate in light of the facts and circumstances of the conduct. Any player, umpire, or Club or League official or employee who operates or works for an illegal bookmaking business shall be subject to a minimum of a one-year suspension by the Commissioner. For purposes of this provision, an illegal bookmaker is an individual who accepts, places or handles wagers on sporting events from members of the public as part of a gaming operation that is unlawful in the jurisdiction in which the bets are accepted.

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Rule 21 was created after the Black Sox scandal of 1919, when eight Chicago White Sox players were accused of throwing the World Series in exchange for money from gamblers. In short, it was baseball’s first serious attempt at ensuring the integrity of competition. Banning Rose for life was another marker, Giamatti sending a decisive message to anyone paying attention that games are not fixed or outcomes predetermined. Every commissioner since him has reinforced the message by declining to reinstate Rose.

Gambling on sports, meanwhile, has become legal in some form in 38 states and the District of Columbia. MLB, the NFL, the NBA and other sports have increasingly embraced its revenue potential. Sports betting remains illegal in California and public sentiment continues to be against a shift in the law. In 2022, voters in California shot down two competing propositions that would have allowed sports gambling despite an estimated $500 million spent to promote the bills. Proponents declined to revisit the bills this year, and it’s unclear whether another effort will be made in 2026. Advertisements for sports betting are nevertheless ubiquitous. California is not immune to the relentless marketing from sports betting giants FanDuel and DraftKings, and Las Vegas is a short drive or flight away. But California residents who wish to place large bets on sporting events from home do so illegally, either online or with a bookmaker. Mizuhara allegedly placed bets with Mathew Bowyer, a San Juan Capistrano resident whose home was raided by federal agents last year as part of an investigation.

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Ronald Peters, a bar owner in Franklin, Ohio, was Rose’s bookie. He was a primary witness in the 1989 investigation by baseball investigator John Dowd that led to Rose accepting a lifetime ban, telling Dowd that he took more than $1 million in bets from Rose. Peters died alone in his apartment in 2016 and received an indigent cremation.

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Is now the right time to invest in gold as prices have cooled?

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Now may be the time to buy gold following a recent lull in its price.

Getty Images/iStockphoto

The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

  • Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
  • Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

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