Sports Betting Like Stock Trading

Kaplan, Mark. “Wall Street Firm Uses Algorithms to Make Sports Betting Like Stock Trading.” Wired Magazine. Nov. 1, 2010.

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In this article Michael Kaplan describes the touchscreen wireless devices that can be used for on-the-fly wagering or in-running. He tells how this new technology was developed and how it is used. His point of view seems to be that this new technology will be the gaming tool of the future. The software processes information and finds mathematical patterns and correlations and uses this information to decide the odds of sporting events. Betting on sports is a risky business and managers like for their patrons to play slot machines and other games where there is a dependable profit made. The casino owners also discourage betting by expert gamblers. But Kaplan says that in spite of the uncertainty of betting on a sporting event, the younger gamblers have embraced in-running and the new technology such as the Midas. Kaplan reports that Cantor Gaming will eventually let gamblers bet on movements in the stock market. He predicts that there will be an online futures exchange where gamblers can bet on the rise and fall of stocks without owning them.

In researching the question, “While older versions of gambling are fading, should managers choose the technology of on-the-fly wagering to be the future of gambling?” this article will help the reader understand the issues involved in the changes that this technology is bringing to our society. Kaplan gives a description of the software and how it can be used. He relates the history of how this technology was introduced into the casinos and he describes the people involved with introducing it. He quotes the opinions of those who are connected with the world of gambling. Kaplan begins his article with an interesting example of one man’s experience with on-the-fly wagering. Because this article has a wealth of material on the subject of the new gaming technology, it will serve as the primary source for the research.