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Stories of Interest
- Canada's CIBC Completes $5Bn PrivateBancorp Buy
- Word ‘Women’ Literally Never Appears in U.S. Senate’s 142-Page Health-Care Bill
- Stephen Pierce, Goldman Sachs Global Head of Equity Markets, To Retire
- Al Gore 'Not Very Smart,’ But Became Filthy Rich Using Simple Investing Formula - Charlie Munger
- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
- Senate Republicans Release Plan to Replace Obamacare - The Details
- Berkshire Hathaway Throws $1.5Bn Lifeline to Canada's Home Capital
- Inside Nomura: Day in the Life of a Junior Banker
- Inside Travis Kalanick’s Resignation as Uber’s C.E.O.
- Creative Planning, KS Investment Firm, Spurring Change on Wall Street
- SEC Obtains Judgment Against Attorney Who Defrauded Escrow Clients
- SEC Files Fraud Charges Against Stock Promoters in Market Manipulation Scheme
- Power Lunches and Dinners in New York, London, Washington
- Banks to Cut $1.2Bn in Research Spending, Analyst Jobs - McKinsey
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NEWSLETTERS & ALERTS
Sports Betting Takes Page from Wall Street
[Photo: Sports Betting / pbs.org]
Whether it’s your Superbowl or March Madness office pool bets, your fantasy bets on FanDuel, or your forays into casino and sportsbook betting, there’s a host of new sophisticated tools at your disposal that, in many ways, resemble Wall Street. Financial terms like markets, algorithms, robo-advisors, high-frequency, fund managers, contrarian investors, and watchdogs are finding their way into the vernacular of sports betting.
Markets. With an established demand for sports betting, the internet has spawned a universe of international betting markets – including online sports leagues and gambling operators.
Robot-Advisors. Hesitant to rely on your limited knowledge or haphazard approach to betting on a sporting event, why not access one of many online guides that can provide suggestions based on a prediction model. Get the prevailing mood of favorite teams and players by accessing social media conversations. Compile picks and tips from online data bases that are available to subscribing members.
High Frequency. Real time data that can be disseminated faster than a TV broadcast, has driver sophisticated gamblers to engage in high-frequency betting. Today’s betting has transcended one shot bets on the outcome of a game or tournament. Now, bets made throughout live games are on the rise- accounting for 20% of all bets at William Hill Plc’s Nevada locations. Besides resembling the MO of HFT firms, think of it as being similar to all the single roll bets one can make on a Craps Table.
Fund Managers. What better way is there to increase the likelihood of a payout than by pooling your money with like-minded betters? Entity betting is now legal and ready to accept your money.
Contrarian Investors. Wall Street professionals often look for overvalued or undervalued stocks and establish opposing positions in those securities. Computer models are available that identify apparent overvalued gambling spreads. Consider it betting arbitrage.
Watchdogs. Isn’t it reassuring to know that someone is on the lookout for online leagues and sports operators that engage in suspicious activities? Genius Sports Group Ltd. does just that, filtering through data for deviations from the norm, which probably gets disseminated in one form or another.
There you go – you’re free to fritter away – I mean gamble - your hard-earned money.