Nick Pell

Maybe.

Over the years, casinos have basically figured out how to prevent Rain Man from coming in and cleaning house.

In sports and parimutuel betting, that's horses, you're not betting against the house.

The odds are determined by what other people are betting on.

It's peer-to-peer.

You're betting against other gamblers.

The house makes its money on volume, not by winning bets over time.

In fact, a bookie's dream is equal amounts of money on both sides of a bet.

That's why they'll move the line to make one side more attractive if the other side is getting too much action.

If you've ever seen the movie The Grifters with John Cusack and Angelica Houston, Angelica Houston's job is to go into horse tracks when the odds are too lopsided and throw a bunch of money to even them out because that's how they make their money.

It doesn't matter really who wins to a bookie because they're getting their juice, which is typically 10% of all the action.

They're not trying to out-bet anyone.

They want to manage the line, and the VIG makes that profitable.

Right.

The Vig is mostly an interest rate thing.

It's usually how it's used.

But in gambling terms, it's the house advantage that's baked into every bet.

You're not wrong in a certain sense.

Crypto is sportsbook for nerds, for sure.

And much like in crypto trading or other forms of trading, you can place bets in sportsbook in a way that makes sense.