November 29, 2005
Gambling on Gambling...
I am fairly poor, but feel pretty rich in spirits. Even if I had lots of money I would just give it away or waste it somehow.
Having said all that, I like watching numbers and trends and the math behind stuff. What is cool about the web is that you can look back and not only see how your own ideas played out, but see how things played out for others.
The World Poker Tour is a publicly traded company (wpte). By buying or selling it you are gambling on gambling. With a regular casino on each individual bet anything can happen, but in aggregate the house wins.
The poker tour announced that they were partnering online with a huge poker social network, and there has got to be a way to monetize that.
When I was eating with some of the reps at a major search engine they talked about how they loved online poker and then started giving me all the inside baseball. When to play, how to get past data from other users, etc. etc. etc.
When I was home I think my step dad loved watching poker on TV too.
So is a bet for the stock of a poker tour a good bet?
here it is "oversold, nice volume"
but then again earlier this year (on July 11th) at over $20 a share it was
"pump and dump....good enough for insiders to unload..happens all the time..nasdq does little to stop this schannigan from happening."
and
"when they don't let you short is usually another sign of LOOKOUT...watch out below.."
good call insideinfo. sure enough the poker shares are now around $7.
insideinfo is long on atari...and hey thats a cool game too!
Something draws people toward market uncertainty. Online I can almost guarantee that I know enough about the publishing, marketing and information retrieval business models to be able to build a huge fortune while likely working far less than I currently do, but I am more interested in the off chance one shot stuff because certainty is boring. eventually I will probably be pissed at myself for that, but live and learn.
what sort of gambling are you addicted to? what kinds of gambles do you wrongfully avoid?
Posted at November 29, 2005 7:22 AM