3.02.2006

betting (and profiting) from real life events

congrats to nbat for getting a mention naplesnews.com!

This world of propositional betting extends the Oscar phenomenon past gambling sites to sites that specialize in trading futures. Sites like TradeSports.com trade contracts on the Oscars.

Stephen Roman, 24, a recreational trader and an analyst for a currency trading firm, explained how futures work.

“Let’s say Brokeback Mountain is trading at 80,” Roman said. “That means the market thinks it has an 80 percent chance of winning. So you can buy or sell. If you think the picture has a 50 percent chance of winning, you can sell at 80 and then buy it back once the price lowers to 50, and close out the trade with that profit.”


article here.

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