Michael Phelps Smoking Weed: All Bets On

Photos of 14-time Olympic gold medalist, Michael Phelps, smoking weed have emerged.

The News of the World Sunday featured the photograph of Phelps with what appears to be a cannabis (marijuana) bong.  The headline and caption of the photo read, cleverly enough, "What a Dope".

"THIS is the astonishing picture which could destroy the career of the greatest competitor in Olympic history," the paper proclaimed.

The online gambling website BetUS.com was rumored to be preparing to post odds on Michael Phelps weed smoking fiasco and what might transpire.  Because of Super Bowl Sunday, BetUS oddsmakers are a little bit - well - in the weeds themselves this day...so we will have to wait on this particular bet offering.

The company already offers odds on whether Michael Phelps will become Lindsey Lohan's next boyfriend (8/1). 

One party-goer who witnessed the star's behaviour told the News of the World: "He was out of control from the moment he got there.

"If he continues to party like that I'd be amazed if he ever won any more medals again."

Phelps admitted that a photo of him smoking pot that appeared in a British tabloid is authentic and says he is sorry for his behavior.

"I engaged in behavior which was regrettable and demonstrated bad judgment," Phelps said in the statement released by one of his agents. "I'm 23 years old and despite the successes I've had in the pool, I acted in a youthful and inappropriate way, not in a manner people have come to expect from me. For this, I am sorry. I promise my fans and the public it will not happen again."

News of the World said the picture was taken during a November house party while Phelps was visiting the University of South Carolina.

During that trip, he attended one of the school's football games and received a big ovation when he was introduced to the crowd.

While the newspaper did not specifically allege that Phelps was smoking pot, it did say the pipe is generally used for that purpose and anonymously quoted a partygoer who said the Olympic champion was "out of control from the moment he got there."

Marijuana dangers are usually listed as they affect the physical body and mind and marijuana dangers are often associated with emotional problems as well. Marijuana dangers are often reported in fluctuating waves. Some say there are more marijuana dangers than ever right now due to the increased potency of the drug. Others say marijuana dangers aren't as bad and can even be used for medical purposes.