1,699,900% Returns

Welcome back to the Bandit Betting Newsletter, where we deliver the top stories in sports and gambling directly to your inbox, every Sunday.

In today's email:

• Ahead of November Elections: Government to Ban All US Election Betting

• Sports gambling goes Wall Street: Wayne Shelton has a shot at generating the type of return hedge funds and VCs could only dream of. (It's 1,699,900% if you were wondering.)

• User @ZachNBA1 on X: “If I needed any more reason to love Naz” after turning $100 into $217K on 3-leg futures parlay.

Let's gamble...

ELECTION BETTING

The ban would greatly slow, but not end, global progress on prediction markets.

This week, the government bureaucrats at the CFTC announced that they plan to ban all election betting (aka “prediction markets on elections”, aka “event contracts”) in the United States.

Why?

Despite the general public’s preference, the CFTC claims this gambling jeopardizes the “sanctity of elections”.

…Even going so far to say this gambling threatens “democracy and national security.”

The only possibility of preserving these betting markets is via legal challenge, however it is highly unlikely.

Within the next 60 days this ban will be passed.

SPORTS GAMBLING GOES WALL STREET

Sports bettor trying to hedge a $1.7 million payout shows the gambling world is taking a page out of Wall Street's book.

Sports bettor Wayne Shelton has a shot at generating the type of return hedge funds and VCs could only dream of. (It's 1,699,900% if you were wondering.)

A three-leg futures bet Shelton placed in May 2023 on the MLB, NFL, and NBA championship winners is one win away from the life-changing payout.

-Per Business Insider.

The massive future ticket needs OKC Thunder to win the Championship. The value of the ticket is expected to continue to grow if the Thunder advance to the conference finals ($330,366) and the NBA finals ($720,420).

(DraftKings also offered Shelton a cash-out, but only at about $75,000.)

The question begs - would you cash out or let it ride?

FUTURES LOTTERY WIN

“If I needed any more reason to love Naz”

X User @ZachNBA1 has caught significant traction after posting his life changing parlay win. The +217700 odds ticket featured three regular season NBA award winners.

The bets were:

• Rudy Gobert - Defensive Player of The Year (+500)

• Nikola Jokic - Most Valuable Player (+200)

• Naz Reid - Sixth Man of The Year (+12000)

Simply incredible…

“QUICK PICK” STORIES FOR THE ROAD

• “Epidemic” - gambling and betting destroying the lives of million youths in Nigeria with the Government forming blind eyes refusing to create jobs or an enabling environment for young people.

• Gambling is increasingly legal in the US: Casinos, sports betting, the lottery, and so on. The economic benefits of most forms of gambling are limited. There is some job creation and collection of additional taxes, but these benefits come at the expense of players.

THE GAMBLING ADVISOR

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