I know that.
Now, my lax moral code is kind of well known, but I don't have a problem with a manager betting for his team.
I don't exactly see how that would effect his managerial performance, wherin he's supposed to do all that he can to win anyway.
Obviously, betting against the team is a whole different ball game.
What kind of message does it send to bookies if he bet on last night's game, but he's not betting on tonight's game? Obviously he thinks they're going to lose. You can not under any circumstances bet on games involving your own team, in either direction, if you exert as much control over the outcome as the manager.