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Old 06-15-2020, 05:40 AM   #1
FallawayJumper's Avatar
Join Date: Nov 2019
Posts: 305
sports bettors hungry for action start "betting" stocks


a lot of sports bettors hungry for action have moved to "betting" on stocks - particularly on options
a great number of new accounts have been opened and they are moving the markets
no doubt a lot of them don't really understand what they are doing and are getting creamed
and some, no doubt are getting lucky, - or may possibly have some skill at it as they did when they could bet sports

from the article:

"But some Wall Street analysts see people who used to bet on sports as playing a big role in the market’s recent surge, which has largely erased its losses for the year.
“There’s zero doubt in my mind that it is a factor,” said Julian Emanuel, chief equity and derivatives strategist at the brokerage firm BTIG. “Zero doubt.”

Millions of small-time investors have opened trading accounts in recent months, a flood of new buyers unlike anything the market had seen in years, just as lockdown orders halted entire sectors of the economy and sent unemployment soaring.

It’s not clear how many of the new arrivals are sports bettors, but some are behaving like aggressive gamblers. There has been a jump in small bets in the stock options market, where wagers on the direction of share prices can produce thrilling scores and gut-wrenching losses. And transactions that make little economic sense, like buying up the nearly valueless shares of bankrupt companies, are off the charts."
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Old 06-15-2020, 07:47 AM   #2
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Join Date: Jul 2008
Location: Australia
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Re: sports bettors hungry for action start "betting" stocks

Feels like reddit's wallstreetbets is probably to blame for a lot of that more so than a surge in sportsbettors buying options. I'm sure some would but there are obviously other sources here

Also a ton of people bored at home not working during lockdowns deciding to 'be a day trader' because 'how hard can it be'

Boredom plus capital equals random people 'betting' on stonks
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Old 06-16-2020, 04:28 AM   #3
Join Date: Jun 2020
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Re: sports bettors hungry for action start "betting" stocks

I can confirm that sports bettors turned to stock markets during the pandemic that lasted 2 months. However, I must say that some of them did not turn to stock markets to simply gamble, but they turned in order to make some money in a period when absolutely no betting action was taking place. Unfortunately for them, those who focused on betting lost all sources of income, while casino and poker players could continue like before. For example, a forum about smart betting called arbusers, create a new thread with investments in the stock markets and BTC. They did very well as far as I see. This analysis was reproduced by many analysts and in the end the technical analysis you can see there became a zeitgeist as far as I see. What I can understand very well is that a smart gambler should not focus on just on field, because you never know what happens. But at the same time, it is very difficult to know more than 1 markets, for example, betting and poker.
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