A Bettors Explanation of the Economic Crisis

Also in the Bill Simmons Mailbag I mentioned yesterday, a Bettors Explanation of the economic crisis. By accident.

You just reminded me of something: There should be a section on eBay that allows the auctioning of enticing future bets. For instance, a few weeks before the NBA season, I placed $300 on 15-to-1 odds that Cleveland would win the 2009 NBA title. Those odds have dropped to 2-to-1. Not that I would (after all, Cleveland is going to win the 2009 NBA title), but shouldn’t I have the option to sell that $300 ticket on eBay? What if someone bid $1,200 on it (which would be a smart move because, again, Cleveland is going to win the NBA title) and I was guaranteed a $900 return on my investment? Should I take the money? This would be a fun Web site, you have to admit. And if eBay can’t do it, then why couldn’t the casinos themselves build a Web site that allows people to sell future tickets and get a second cut on the action? It all makes too much sense.

And then he gets called on it in part 2 of the mailbag.

Q: Just got done reading Part 1 of your mailbag. While your idea of auctioning off Vegas bets sounds like a great idea, do you realize that you just suggested the same scenario that ruined the mortgage industry and the entire economy?
— Tom, Pittsburgh

SG: Time for the greatest three-word comeback of all-time when you don’t have a comeback … yeah, but still!

A Bettors Explanation of the Economic Crisis

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s