• Simon-Ehrlich wager

    Tuesday, March 30th, 2010

    Julian L. Simon and Paul Ehrlich entered in a famous wager in 1980, betting on a mutually agreed upon measure of resource scarcity over the decade leading up to 1990. Simon had Ehrlich choose five of several commodity metals. Ehrlich chose 5 metals: copper, chromium, nickel, tin, and tungsten. Simon bet that their prices would [...]

  • Types of bets

    Sunday, February 28th, 2010

    Aside from simple wagers—betting a friend that one’s favorite baseball team will win its division, for instance, or buying a football “square” for the Super Bowl–sports betting is commonly done through a bookmaker. Legal sports bookmakers exist throughout the world (perhaps most notably in Las Vegas). In areas where sports betting is illegal, bettors usually [...]

  • Sports betting

    Friday, January 29th, 2010

    Sports betting is the activity of predicting sports results by making a wager on the outcome of a sporting event. In the United States, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a scheme except for in a few states. In many European nations bookmaking (the profession of accepting [...]