Sports gambling legalized

There is a small difference, though. With roulette, your odds are fixed. You need to know that if you play for any amount of time, you should expect to lose your money. In sports gambling, you have a point spread -- which conceivably can be an inefficient line. If you can find those inefficiencies, you can actually turn the odds in your favor -- even with whatever vig they charge you.

Now obviously, every knucklehead believes they have information that everyone else doesn't have, and few do. And point spreads are more efficient than ever because of how fast info travels and the number of people who bet relative to the past. But info is the potential equilizer when it comes to sports betting. In the 1970s, Billy Walters and "The Computer Group" were paying a vig. ... and still beating Vegas in sports betting. That is impossible to do at a roulette wheel.

 

Listening to Mark Cuban talk about it right now. ... He was bringing up the prospect of some dog shit penny stocks changing their names to betting-related things in pump and dumb schemes -- a la bitcoin.

Speaking of bitcoin, some form of block chain technology could be a winner in this. It's been a technology looking for a use.

 

And that's going to be another fascinating part of this. That sports book near the stadium will be so flooded with money on the home team that the away team (good or not) will have to have a juicy line to attract action, and much juicier than it might be 100 or 1000 miles away. Wiseguys are going to be using mules all over to catch these lines.