The Thin Line Between Financial Markets and Gambling

A NYT article by Susanne Craig spots Cantor Fitzgerald, one of the lead brokers on Wall Street, expanding into the gaming industry. They have a subsidiary, Cantor Gaming, that runs the books for sports betting operations and other activities.

“Guys who trade Treasuries are doing it for basis points, and sports betting is not much different,” said Jeffrey B. Logsdon, an entertainment and gaming analyst for BMO Capital Markets. “Trading a million dollars in Treasuries is different than trading a billion. Sports betting is the same. You want the spread, volume and you see yourself as a match maker.”

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