Friday, August 11, 2006

Newbie Scum

I will be blogging on occasion when Caveat Bettor is away doing things more important then… promoting maximizing liquidity into TradeSports (what nobler activity can there be?).

For those of you not familiar with Tradesports I should mention the forum. It in essence allows gamblers to gamble (trading?) like traders, and traders to use their tools to trade on sporting events (gambling?). Alright, lets not get caught up in the semantics; it provides a market similar to the stock market on a variety of events, including sporting events.

What we are left with are two types of people. One is the traders. You can find them in the pit talking about oil prices, Dow Jones fluctuations, and bear vs. bull debates. Then there are the gamblers who shuffle into the pit after the Dow closes, talking about why there is a delay in the lines for the Cub’s home games (wind reports not out yet), the optimal time to trade a division contract (apparently right after the games are done), and the typical Yankees vs. Red Sox debates. I fall into the latter category. So while Caveat Bettor wears three hats (a trader hat, a sports hat, and a promoter of free markets and minimal Government intervention) I am simply a degenerate libertarian gambler.

Enough about me. Thanks to BUCWILD for posting this link in the pit today. I will have a detailed post next week on the ramification of this action, and how BETonSPORTS’ fallout may be an indication of not just future events, but also a signal of inefficiency in current contracts at TradeSports. (And if you think about it, there is no better way to increase liquidity then to talk about inefficency).

Thats it for now, hope I didn't mess anything up.

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