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SignUp Now!I read that a bettor placed $400,000 on Wembanyama to go #1 and won $2000. While that's obviously a terrible return, since there was zero chance Wemby wasn't going #1 this was pretty much free money. I'm sure there are other ways he could have used $400,000 to make $2000 in a single day, but they all likely would have involved more risk.
I wonder if this is something rich people actually do a lot. I guess there aren't a lot of situations where an outcome is so certain, so maybe you couldn't do it often enough in a year to make real money off of it. But it did seem like another reminder of how being rich makes it way easier to get richer.
I don't think I like "no UNC again". Would be nice to see Elliot Cadeau in there as a late first rounder or something.
Yeah, but in any college basketball game there is a chance that a massive underdog wins. The odds of that are much higher than Wembanyama dying or getting crippled before the draft.I read that a bettor placed $400,000 on Wembanyama to go #1 and won $2000. While that's obviously a terrible return, since there was zero chance Wemby wasn't going #1 this was pretty much free money. I'm sure there are other ways he could have used $400,000 to make $2000 in a single day, but they all likely would have involved more risk.
I wonder if this is something rich people actually do a lot. I guess there aren't a lot of situations where an outcome is so certain, so maybe you couldn't do it often enough in a year to make real money off of it. But it did seem like another reminder of how being rich makes it way easier to get richer.
This is pedantic but I guess he could have been Len Bias'd or gotten crippled by a bus in NYC three days before the draft or w/e? On that sum, T-bills paying out ~$1,700 a month with zero risk of those freak occurrences right now, with fewer tax implications. I'd stick with that.
I wouldn't say it's a sucker bet, but I remember on the BS pod a year or two back, I think it was Simmons' friend Joe House, bet a large wad on some absurd money-line bet, like a UK -5000 vs St. Peter's or something, just to try and win a hundred or two off a near five figure bet. What's the point?
He seems pretty set on being OAD.I don't think I like "no UNC again". Would be nice to see Elliot Cadeau in there as a late first rounder or something.