A very wise man once said that the needs of the many outweigh the needs of the few. This is what the case for or against the legalization of sports gambling boils down to.

Problem gambling is a serious issue that should never be taken lightly. The 2007 British Gambling Prevalence Survey found a problem incidence rate of 0.6 percent of the gambling population, or about 284,000 people in Great Britain. The percentage rises dramatically for sports gambling, and the social costs are borne by everyone.

Anti-gambling legislation comes at a much higher cost: our civil liberties. The free world was founded on principles that date back to the Magna Carta and beyond. Without these principles, we are little more than property of the state.

The aforementioned survey also found 68 percent of Britons gambled in some form or other last year. But even if that number were 0.68 percent, the right to gamble remains every bit as valid.

At this time last year, the rise of “prediction markets” like Intrade and the Iowa Electronic Markets heralded a new age for betting on politics. And Hillary Clinton was the prohibitive favorite to become the next President of the United States of America.

Whoops. It turns out the wisdom of crowds has its limits. But it’s still useful for bettors to know that shares in Barack Obama and the Democrats are trading around the $60 mark, which translates to a 60-percent “chance” that Obama will be the next president. If the prediction market is to be trusted, then Obama is too expensive at –270 on the futures market, and John McCain has value at +180. The big question of the day is whom Obama will choose as his running mate. Jim Webb is the favorite at Intrade, but shares are trading at just $20 with a wide field of potential VP candidates. Tim Pawlenty is the Republican fave at $19.20.

It only took a few days for the top clubs at Euro 2008 to separate themselves from the pack. Spain blasted Russia 4-1, Germany crushed Poland 2-0, and Portugal put the cleats to the Czech Republic 3-1. Those victories only solidified their grip on the top three spots on the tournament odds list:

Germany 7-2
Spain 4-1
Portugal 9-2
Holland 5-1

Holland? If you missed it, the Netherlands swarmed Italy 3-0 to put the Azzurri in grave peril. They join France and Romania in Group C, the Group of Death. Italy (10-1) might have to beat France (12-1) on June 17 to advance to the quarterfinals.

Assuming the Dutch side makes it through, taking either France or Italy out of the picture makes life easier on the top favorites from Germany. No disrespect intended to the very talented Netherlands team - they just haven’t had much success internationally since winning Euro 1988. France and Italy have.

The road to the Triple Crown has seemed more like a presidential campaign. Big Brown is inches away from the most prestigious accomplishment in thoroughbred racing. Now the pundits are wondering if he can finish the job.

This Saturday’s Belmont Stakes in Elmonte, New York is the chance of a lifetime for Big Brown and jockey Kent Desormeaux. After cruising to victory at the Kentucky Derby and the Preakness, they’re 1-3 favorites to make history by winning the first Triple Crown in 30 years. But the Belmont is not like the first two races – it’s 1.5 miles long, longer than any other race Big Brown has run.

Trainer Rick Dutrow Jr. has been effusive about Big Brown’s invulnerability. Still, there’s the matter of the crack in his hoof, and the presence of Japanese-trained Casino Drive (7-2), a horse related to the previous two Belmont winners: Jazil and Rags to Riches. It’s a typical Triple Crown-spoiling situation.