In Bill Simmons’ latest mailbag, he responds to a number of different reader questions. Most of his answers are fine, but a few are puzzling…
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.
Yeah…okay…this already exists — it’s called a “long-term market” and my favorite online sportsbook WSEX.com, has had them for at least five years now. Go to the site, hit “Pro Basketball” on the left, hit “Pro Championship” under “Long-Term Markets” on the main screen — there’s a long-term market where gamblers can buy and sell wagers on who will win the NBA championship. They have 1-pays (where only a share in the winner is worth something) and 4-pays (where shares in the winner, runner-up, and third and fourth place teams are worth something). You can buy and sell these shares throughout the year.
How does a guy that calls himself “The Sports Guy” not know about this? Didn’t he hit up any of his colleagues/friends at ESPN in all the time that he has pondered this eBay idea of his?
As of right…..now…..I’m not going to refer to Bill Simmons as “The Sports Guy” any longer. As far as I’m concerned, he has lost the right to have that nickname.
And then there’s this doozy…
Continue reading »
