Penn National buys minority stake in barstool

[Arrogate]

Pretty big deal and crazy to think how much BS has grown. Solid buy and it will be interesting to see what their next move is. Would imagine an online platform is next and in the future they will get into the DFS game.

 

[Omar]

It’s only a matter of time until sports gambling gets added to Hedge Fund Portfolios.

 

[Arrogate]

Churchill Downs stock has been doing very well the past couple of years. Positioned themselves nicely with their casino interests

This one intrigues me because the more barstool grows the cheaper it will be to attain more customers to online platforms.

 

[Omar]

Churchill Downs stock has been doing very well the past couple of years. Positioned themselves nicely with their casino interests

I think Hedge Funds will start hiring their own handicappers and place bets on behalf of clients. It makes a lot of sense for people with extra $ to throw around, it’s a short term window matched with a quick payout.
It will be interesting to see how well correlated legalized gambling is with the overall economy.

 

[Arrogate]

I dont know if I would go that far with the way WillHill and euro books are taking over and running things. Winners get booted. Good follow is spanky or rufus peabody on twitter. Spanky has shown plenty of times of how they boot winners. Maybe it will have to be overseas considering that is where sharps go to play and they handle way more money. The other thing they have been switching to is making sides lower mins and terrible payoffs. Bookmaking has really changed from a philiosophical standpoint.

Instead of taking early sharp money and adjusting lines bc of it, basically getting valuable info and then make the opening line based on what side the sharps landed on. They have decided to just not mess with sharps and give bad lines with bad payoffs. Risk management isnt a thing anymore, it is simply lower limits and/or eventually quit taking their bets. Just look at the videos spanky posted a year ago in NJ.

 

[Arrogate]

I think Hedge Funds will start hiring their own handicappers and place bets on behalf of clients. It makes a lot of sense for people with extra $ to throw around, it’s a short term window matched with a quick payout.
It will be interesting to see how well correlated legalized gambling is with the overall economy.

I guess i wouldnt be surprised if they modelled spankys business where you form a betting partnership where both parties put up the money and use spankys "numbers" and picks based on his computer stuff. That is how a lot of them have gotten around getting shut out. The need to find "outs" to make bets for them.