Jack Johson
596 posts



Love or hate him, gotta give the man props for stepping up to the plate like this and, frankly, being pretty clear as to why some books choose to 'limit' the way they do. And he isn't wrong in that it is a business decision pure and simple. Now I haven't booked a sports bet in well over 18 years, but I did go on to trade junk bonds on Wall Street in a market making capacity, and now find myself working with a betting exchange... and so can relate first hand to what it means to 'manage risk'... I don't care if it's sports, bonds, pokemon cards, or the weather... when you are a prinicipal in a trade, balance sheet risk is a real thing, whether you are a bookmaker or market maker alike. Unfortunately we don't always get balanced action or get to unwind all the trades and clip a bid-ask spread (or juice!). Something to keep in mind is that the tools used to manage risk have gotten more sophisticated over time. For example, back then we used posted limits, custom player limits, profiled lines, circled events, or simply not putting up certain markets were cornerstone of how we did things. Nowadays, technology and data advancements have led to all kinds of newer, more sophisticated, perhaps automated ways of doing things. Less friction (and cost) in the execution of things. Simply put: books back then and today have different levels of risk tolerance and/or capacity. I worked for a good size credit shop. We booked sharps, but we had limits as to how much we would accomodate... just ask QT. Did he beat us over time? Absolutely... but it also gave us information, notably a higher degree of confidence in what the price should be... maybe my boss would go on to double down elsewhere (we were an offscreen shop) or he would be willing to take outsized risk from an another BIG customer... this was his style. Other shops, notably many of the newer post-up shops, didn't want anything to do with sharps.. on this would love for my friend @nydave11 to give a brief on how G liked to do things at BOS. And then you had those books that led the risk taking charge by hanging the opening numbers for the world to see (and subsequently follow), because in the background they had already vetted the numbers by giving some of the sharpest guys a first crack... think CRIS, Pinny, Grande, The Greek, etc. When it came to trading bonds, anytime I'd get an RFQ the first three questions we'd ask were: who is it (could come in disclosed or anonymous)? What do they want? How much? Will spare the details, but checking news, prior TRACE prints, and my current position were all factored in before I responded or not with a level. Not knowing who is on the other side was always trickier for obvious reasons. But if you told me "Hi, it's me Charles Schwab and I need a bid on $500k Ford 5 5/8 28 bonds" I'd have a higher degree of confidence in quoting, not to mention it didn't have to be "on the screws" to win the trade. When it comes to exchanges, I'll defer to all the mentorship from my guy @irishro, who's been around the sports exchange biz longer than most (btw he's the CEO of Matchbook). But one thing he always tells me is to think about it all as an ecosystem that needs to find its sustainability... for all parties involved, that being losing bettors, market makers, and the exchange itself... and we are in the early innings no doubt.



Peter Thiel has temporarily relocated his family to Argentina, enrolled his children in school there, and bought property, partly due to Thiel’s concerns about the United States’ future, per NYT.







If you saw $999.07 on the ground, you’d pick it up, right? Jannik Sinner🔐 Couple things: •Sinner is GUARANTEED to win •Foazn won’t wake up at 5am to watch I make money in my sleep; you wake up to make money #levels









The @BetMGM ladder bettor wagered $500,000 on the New York Knicks in Game 4. He went 9-for-9 on his wagers: $40,000 on Knicks -2.5 (-110)✅ $20,000 on Knicks -1.5 (-130) ✅ $20,000 on Knicks -1.5 (-120) ✅ $35,000 on Knicks +1.5 (-145) ✅ $35,000 on Knicks +1.5 (-150) ✅ $50,000 on Knicks +2.5 (-160) ✅ $75,000 on Knicks +2.5 (-175)✅ $75,000 on Knicks +3.5 (-185) ✅ $150,000 on Knicks +3.5 (-200) ✅



@RealKidPoker Simply put - ANY bet at odds less than -120 is terrible value and bad to place



Hello yt lady. So as a student, having to set up a time to go see my professor during their office hrs, while juggling my other classes, assignments, org responsibilities, job shifts & social life is an additional responsibility after I already completed the assignment.





