Tuesday, July 6, 2010
Cantor Fitzgerald, a famous bond and derivatives house, just set up a casino in Las Vegas. They are applying the same techniques that are used in setting up derivatives. It allows people to bet on sports results while the game is being played. This is different where people had to place their bets before the event started. I heard of the Casino Economics. Business Week had a famous article on Casino Society, that says that much of modern finance is nothing more than a game devoid of economic substance.