Regardless of how you feel about sports gambling, World Sports Exchange is a really interesting site. For certain games (read “televised games”), the site offers Live Betting. You can buy/sell contracts DURING THE GAME on either side of the bet (spread included), and the buy/sell prices change throughout the game. This offers a whole new spin to sports gambling: 1) you can sell your contracts/bet at any time, 2) you can use information from WATCHING the game and not just reading about the game 3) the entire game is a decision-making process (buy? sell now? buy now? buy more? sell some? hold?), 4) there are ways to hedge your bets as the contract prices change. At the end of the game, a losing contract is worth nothing and a winning contract is worth $100.

I feel somewhat confident buying/selling contracts of a sports team, because it’s a market I understand a lot better than stocks. Plus, I find discussing pass completion %s and 3-point shooting %s more interesting than revenues and P/E ratios (no offense meant towards Wall St. folks).

It seems as if I’m not the only sports-lovin’ risk-takin’ gambler:
See a recent entry on Mark Cuban’s blog.

So, check out the site if you’re interested. You can watch the “market” during a game without registering. It’s an interesting concept even if you hate sports and don’t like gambling :-).