Going For Silver...Gold...Pounds?

If you're in the running for medals in the Olympic Games, you're expected to compete to the best of your ability.

Go for the gold, silver or bronze.

In the case of Peter O'Leary, it might be a case of going for the gold in the form of British pounds.

The Irish sailor is part of a team on which Ireland has pinned its medal hopes. Mr. O'Leary is in a bit of hot water (and we're not talking about the Irish Sea here) over a case of youthful exuberance from his first Olympics in 2008.

It's come out that Mr. O'Leary placed a bet on a sailing race in which he was competing. However, he bet against himself and for his competitor, which would be an easy bet to win if you were better than your rival and then you dogged it so you'd lose.

You pick up a profit of close to 4,000 British pounds and go home ahead of the game, to buy round after round for your mates...or to put towards a better boat for the next race.

The issue isn't so much that he placed a bet in that way, but that such gambling was banned by the Olympic Committee at those same Beijing games.

Mr. O'Leary figured that since he wasn't in a medal race, where was the harm. He had nothing to gain, but he could create a benefit by placing a couple of bets with his bookie. He might not have known about the rule against wagering.

Except that all participants were supposed to have signed a contract in which they agreed not to gamble against themselves. Infractions are punishable by a permanent or a temporary ban.

It's the ban that's got sailing enthusiasts nervous. If Mr. O'Leary is punished in 2012 for a foolish mistake made in 2008, there goes Ireland's best hope for a medal.

The Committee is investigating.

Mr. O'Leary is keeping a low profile.

And his bookie is wondering if he'd been had back in 2008 when he took a bet from a man who was participating in the event in which he'd bet that he'd lose.