Monday, February 04, 2008

Sometimes you just gotta have some action 

My friend Brad Humphreys is scratching his head over people who would pay more than $.50 for a contract that pays you $1 if the coin toss at the Super Bowl comes up heads. But when I looked at this bet on an offshore book rather than on a TradeSports exchange, I had to pay $1.15 to win $1, implying $.5209 for the cost of the bet offshore. So I'll add one possibility to the list of explanations Brad has: It's cheaper to pay for a coin toss on Tradesports than on Sportsbook.

BTW, for those interested, I had no money riding on last night's game except for $3 on a board among friends. None of my numbers came up. I cannot bet for or against my own team; I'm enough of a nervous wreck as it is.

Labels: ,