As usual, the guy whose industry is getting hurt by competition says competition is bad.
(via Chris Masse)
2 thoughts on “Betting Exchanges: Good or Bad?”
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Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
As usual, the guy whose industry is getting hurt by competition says competition is bad.
(via Chris Masse)
Comments are closed.
I’m in favor of any method that lets smart people make money at the expense of stupid people.
It’s not much different than betting on horses, which has been legal in the U.S. for a very long time and hasn’t caused widespread corruption of society.
I don’t see any customers complaining, only competitors — bookmakers in the UK, regulated trading exchanges in the USA. Their defenses of their high-fee business models are always the same: they are more responsible, the upstart competitors are more subject to corruption, etc., etc. It’s always the same batch of self-serving rationalizations.