Jan

18

Krisrock writes:

Sports betting is about emotion more than reason.

People love the Patriots and bet according to their heart.They count one way and others count other way, proving how you can get beat with 100% confidence you're right and all those who you disagree with are wrong.

Walters proves that point especially in the equity markets…he just doesn't know those who count in a different way.

Pitt T. Maner III responds:

I have heard of people that have a "team-like" attachment to stocks like AAPL. It would be almost impossible for them to sell their AAPL stock; almost as difficult as it would be for a Pats fan to bet against his team.They are emotionally attached to Macs, iPods, iPhones and everything AAPL. Perhaps there is some component of this that is reflected in price action. There are not that many companies that have that sort of following. 

Jeff Watson comments: 

The devotion, attachment, or worship of a team by the general public might be the "Achilles Heel" that allows them to exploited and/or manipulated by the flexions. It would be hard to find something rational with devotion, attachment, or worship.

 Gary Rogan Responds:

Most of the story was about his sports betting operation, which looked quite impressive and totally devoid of emotion. He counts, knows a lot about all the teams, diversifies, employs experts with total recall who remember even more, and on top of it attempts to "push the line". The story ended with his complaint about the market, but it seemed like he simply didn't apply any of his normal techniques to a new area and got wiped out.

Jeff Watson comments:

Walters attempts to "push" the point spread is no different than a local at an exchange or a market maker trying to goose the bids or offers to move the direction of trading to prices that have the most liquidity, stops, and booby traps for the unsuspecting. The sports gambling market is really no different than any other market when you think about it, and it's probably percentage wise, more honest.

 

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