Fantasy sport where victory is real



DUBAI // Cricket fans are blowing hundreds of millions of dollars snapping up top players in a buying frenzy that has gripped Dubai.

The sums being spent are pure fantasy, but the winner will walk away with the real-world sum of Dh8,000.

Hundreds of diehard enthusiasts have been swept up by the latest World Cup cricketing craze - a dream team fantasy tournament whose operation has its hub in a sports lounge in Bur Dubai.

Participants began bidding up to US$100 million in make-believe money for their chosen players a week before the Cricket World Cup began last month.

Each team notches up points based on runs scored and wickets taken by cricketers in the actual tournament in the subcontinent.

"It's a great concept because we had to carefully plan our strategy and select the best team," said Praksash Bhatia, a software manager who has named his dream team "Sure Shots".

"We did our research to pick the best bowlers and batsmen to balance our teams. Everyone is really competitive, and on match days, the atmosphere is awesome."

The recent tie between India and England saw participants flock to watch the match on large screens in Dubai's Citymax hotel.

"People were shouting for India, but they also backed English players because they have bought them and want them to perform," said Mr Bhatia.

At Dubai's first fantasy auction, the most sought player was India's batting supremo Sachin Tendulkar, who went under the hammer for a fantasy figure of $42m. Bidding wars also raged for the Australian all-rounder Shane Watson, the New Zealand captain Daniel Vettori and the Sri Lankan skipper Kumar Sangakkara.

Fans paid a Dh100 fee per team, and will win cash prizes if their fantasy team scores the highest points. The team that wins first prize walks away with Dh8,000 while the runner-up takes Dh5,000 and third place gets Dh3,000. Each of the five finalists will get a 32-inch plasma TV.

"More than winning the prize money, the competition is exciting," said Manish Mulchandani, an Indian businessman.

"First, we had to use the $100m wisely, and now it's fascinating to see how the cricketers we selected are actually performing."

UFC%20FIGHT%20NIGHT%3A%20SAUDI%20ARABIA%20RESULTS
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
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RACE CARD

6.30pm: Handicap (TB) $68,000 (Dirt) 1,600m

7.05pm: Meydan Sprint – Group 2 (TB) $163,000 (Turf) 1,000m

7.40pm: Curlin Stakes – Listed Handicap (TB) $88,000 (D) 2,200m

8.15pm: UAE Oaks – Group 3 (TB) $125,000 (D) 1,900m

8.50pm: Zabeel Mile – Group 2 (TB) $163,000 (T) 1,600m

9.25pm: Balanchine – Group 2 (TB) $163,000 (T) 1,800m

10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m

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Joker: Folie a Deux

Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson

Director: Todd Phillips 

Rating: 2/5

The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

New schools in Dubai
The Good Liar

Starring: Helen Mirren, Ian McKellen

Directed by: Bill Condon

Three out of five stars

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Match info:

Manchester City 2
Sterling (8'), Walker (52')

Newcastle United 1
Yedlin (30')

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Company%20Profile
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The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4

Lampedusa: Gateway to Europe
Pietro Bartolo and Lidia Tilotta
Quercus

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When is VAR used?

Goals

Penalty decisions

Direct red-card incidents

Mistaken identity


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