Who looks at Sports and the Stock Market in the way??

RageWizard · 07-22-09, 07:02 PM

No people betting on sports get much better information, meaning that there aren't too many people trying to steer you the wrong way intentionally. People betting on stocks have access to information that could be faked, or listen to people who want you to buy so they can get out, and lots of people don't understand how much more cut throat the market is compared to sports betting. I think online stock trading is a much worse gaming operation than online sports betting. Try sports betting at work, and people look at you like a degenerate, but if your trading stocks, they look at you like an investor. It's total bullshit.

Billy Walters · 07-22-09, 07:11 PM

Very interesting perspective...

Dark Horse · 07-22-09, 11:31 PM

Sports bettors will explore the unknown, but stock brokers are afraid of the unknown. They would rather lose big, by a method they know, than make big bucks by a method they don't understand.

All the cheating, lies, and greed in the stock market can be traced to fear. People have attained a certain level of success and status and want to lock that in. Instead of embracing risk, they avoid it. This is why JP Morgan made a clear distinction between millionaires and billionaires. The latter are far more courageous, because they are beyond the fear of loss.

I'll trust a successful gambler any time over a successful stock broker. They bet with other people's money, and when they lose they want other people to bail them out. Transfer those same mentalities into the world of sports betting and they'd be losing degenerates.

CashMoney · 07-22-09, 11:43 PM

Originally posted by Dark Horse

Sports bettors will explore the unknown, but stock brokers are afraid of the unknown. They would rather lose big, by a method they know, than make big bucks by a method they don't understand.

All the cheating, lies, and greed in the stock market can be traced to fear. People have attained a certain level of success and status and want to lock that in. Instead of embracing risk, they avoid it. This is why JP Morgan made a clear distinction between millionaires and billionaires. The latter are far more courageous, because they are beyond the fear of loss.

I'll trust a successful gambler any time over a successful stock broker. They bet with other people's money, and when they lose they want other people to bail them out. Transfer those same mentalities into the world of sports betting and they'd be losing degenerates.

Well said

nosniboR11 · 07-22-09, 11:53 PM

nowhere near the same, the sports market is for the everyday man, and if you want to gamble in the stock market you better have some knowledge

donjuan · 07-22-09, 11:59 PM

Instead of embracing risk, they avoid it. This is why JP Morgan made a clear distinction between millionaires and billionaires. The latter are far more courageous, because they are beyond the fear of loss.

They aren't any more courageous, unless they took outrageous risks to get there in the first place. If you think it's a positive to embrace risk, you don't understand the term.

pico · 07-23-09, 12:01 AM

i think both are craps shoot. sports is more entertaining. stock market the limit is higher.

Dark Horse · 07-23-09, 03:33 AM

Originally posted by donjuan

They aren't any more courageous, unless they took outrageous risks to get there in the first place. If you think it's a positive to embrace risk, you don't understand the term.

Let me guess. You're a college kid and it's all just theory to you?

tacomax · 07-23-09, 03:36 AM

Billy Walters · 07-23-09, 08:59 AM

Good perspectives...

BarkingToad · 07-23-09, 09:47 AM

I think this article Bill Dozer started a thread on over a year ago puts it best and proved to be prophetic when the market tanked afterwards. I think Ragewizard and dark Horse are spot on.

Sports Betting: Safer than stocks?
By: Elihu Feustel

You will often hear comparisons between sports betting and playing the stock market. But just how similar or different are the two and more importantly, is either one the safer bet?
If you spend any time at all watching CNBC or any other financial channel, you will constantly see bad gambling advice. “Trade your way to riches!” “Want to make money? Backtest, backtest, backtest!” “Double your money with these hot picks!”

There sure are a lot of people who want me to make money. It reminded me of all the touts offering you the “game of the year” or a “super money system”.

There are a lot of similarities between the stock market and sports betting. The insiders and bookies/brokerages make most of the money. People blindly throw money at both, and hope they end up with more. With hard work and a little luck, you can win at either.

There are a few key differences though. Most importantly, the information in sports is much more available than in stocks. Does Peyton Manning have a sore back? What is Ben Sheets' ERA for the last three games? How many aces did Roger Federer have in his last match? You can find it in 30 seconds.

Not only is the information easily available, it is almost always accurate. Injury reporting is tightly regulated. The leagues track minutia with impeccable precision. When I bet on a team, I know the risks. I’ll win or lose, and usually due to players or events you expect. There are surprises, but even the worst beats don’t leave you scratching your head asking, "What the hell is this?"

Unfortunately, the information on stocks is much murkier and often simply wrong. It’s almost impossible to tell what a company is worth. While most companies do not blatantly “cook the books,” they do play games. There are all kinds of accounting manipulation, so that stocks are not what they appear. How much is a bad loan worth?

The answer is...it depends.

Astoria Financial made $38 million in bad loans “disappear” overnight. They did this by reclassifying loans in default for two months from “troubled” to “healthy.” Sadly, the Astoria game is not an isolated incident; just look at the recent Bear Stearns fiasco. The financial reports provide little guidance, and often misstate reality.

The stock market should take a lesson from the sports world and become more transparent. Until that time, I’d rather keep betting on sports than an accountant’s honesty.

Which is the riskier investment?
Last edited by Bill Dozer; 06-21-08 at 03:32 PM..

BarkingToad · 07-23-09, 09:54 AM

Originally posted by Dark Horse

I'll trust a successful gambler any time over a successful stock broker. They bet with other people's money, and when they lose they want other people to bail them out. Transfer those same mentalities into the world of sports betting and they'd be losing degenerates.

The difference between a drunk in Vegas and a drunk in Washington DC is a drunk in Vegas will gamble with his own money.

ABEHONEST · 07-23-09, 09:58 AM

I made this statement years ago.."the stock market and sports gambling are the same "!
Actually,that statement fit much better in those wild 80's,then, it really was about "buying low and selling high" !

Billy Walters · 07-23-09, 02:35 PM

Originally posted by ABEHONEST

I made this statement years ago.."the stock market and sports gambling are the same "!
Actually,that statement fit much better in those wild 80's,then, it really was about "buying low and selling high" !

Not so much anymore, its about staying alive now...

donjuan · 07-23-09, 04:44 PM

Originally posted by Dark Horse

Let me guess. You're a college kid and it's all just theory to you?

As usual, epic fukking fail.

RageWizard · 07-23-09, 05:38 PM

I would like to point out that the Stock Market is still the best place to acquire wealth as long as you realize that it is totally corrupt. I suggest using tools that cannot be faked. These tools are know as charts. Stay away from stories like quarterly reports, and who is going to China to give their workers a bowl of rice a day. Just follow the charts and find out when money is going into and out of a stock. When used properly, charts will tell you all you need to know about the market, and a stock.

pico · 07-23-09, 06:15 PM

Originally posted by RageWizard

I would like to point out that the Stock Market is still the best place to acquire wealth as long as you realize that it is totally corrupt. I suggest using tools that cannot be faked. These tools are know as charts. Stay away from stories like quarterly reports, and who is going to China to give their workers a bowl of rice a day. Just follow the charts and find out when money is going into and out of a stock. When used properly, charts will tell you all you need to know about the market, and a stock.

well you can say the same about sports betting as well. you only bet with stats