'Trading Sportsbooks for Brokerages, Bored Bettors Wager on Stocks' diff viewer (1/2)

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Trading Sportsbooks for Brokerages, Bored Bettors Wager on Stocks	Trading Sportsbooks for Brokerages, Bored Bettors Wager on Stocks
2020-06-15 14:08:25 UTC	2020-06-17 02:31:05 UTC (1 day later)
When he wasn’t coaching sports, he was playing them or watching them. And if he was watching — well, a little skin in the game always made it more interesting for Steven Young, a teacher outside Philadelphia. Just small-dollar bets, mixed in with shuffling the rosters of his fantasy teams.	When he wasn’t coaching sports, he was playing them or watching them. And if he was watching — well, a little skin in the game always made it more interesting for Steven Young, a teacher outside Philadelphia. Just small-dollar bets, mixed in with shuffling the rosters of his fantasy teams.
But when the coronavirus pandemic hit, all the games he cared about sputtered to a stop. So he turned to one of the last places in town for reliable action: the stock market.	But when the coronavirus pandemic hit, all the games he cared about sputtered to a stop. So he turned to one of the last places in town for reliable action: the stock market.
Mr. Young withdrew all the money from his sportsbook accounts and deposited it into Robinhood, the free stock-trading platform. When his federal stimulus check arrived, he put money from that in, too.	Mr. Young withdrew all the money from his sportsbook accounts and deposited it into Robinhood, the free stock-trading platform. When his federal stimulus check arrived, he put money from that in, too.
Forced into online lessons when his school district shut its doors, the health and physical education teacher had everything he needed to get into the market. “Having the time and the flexibility and the opportunity — it being as low as it was — I just kind of felt it was a good time,” he said.	Forced into online lessons when his school district shut its doors, the health and physical education teacher had everything he needed to get into the market. “Having the time and the flexibility and the opportunity — it being as low as it was — I just kind of felt it was a good time,” he said.
Mr. Young, 30, has only about $2,500 invested, making him a guppy among whales. But some Wall Street analysts see people who used to bet on sports as playing a big role in the market’s recent surge, which has largely erased its losses for the year.	Mr. Young, 30, has only about $2,500 invested, making him a guppy among whales. But some Wall Street analysts see people who used to bet on sports as playing a big role in the market’s recent surge, which has largely erased its losses for the year.
“There’s zero doubt in my mind that it is a factor,” said Julian Emanuel, chief equity and derivatives strategist at the brokerage firm BTIG. “Zero doubt.”	“There’s zero doubt in my mind that it is a factor,” said Julian Emanuel, chief equity and derivatives strategist at the brokerage firm BTIG. “Zero doubt.”
Millions of small-time investors have opened trading accounts in recent months, a flood of new buyers unlike anything the market had seen in years, just as lockdown orders halted entire sectors of the economy and sent unemployment soaring.	Millions of small-time investors have opened trading accounts in recent months, a flood of new buyers unlike anything the market had seen in years, just as lockdown orders halted entire sectors of the economy and sent unemployment soaring.
It’s not clear how many of the new arrivals are sports bettors, but some are behaving like aggressive gamblers. There has been a jump in small bets in the stock options market, where wagers on the direction of share prices can produce thrilling scores and gut-wrenching losses. And transactions that make little economic sense, like buying up the nearly valueless shares of bankrupt companies, are off the charts.	It’s not clear how many of the new arrivals are sports bettors, but some are behaving like aggressive gamblers. There has been a jump in small bets in the stock options market, where wagers on the direction of share prices can produce thrilling scores and gut-wrenching losses. And transactions that make little economic sense, like buying up the nearly valueless shares of bankrupt companies, are off the charts.
Even with modest investments, these newcomers can move stock prices, which are typically set by just a sliver of shareholders. On most days, the overwhelming majority of stock investors do nothing, while the buyers and sellers establish the prices. So even a small influx of hyperactive speculators can have a significant effect.	Even with modest investments, these newcomers can move stock prices, which are typically set by just a sliver of shareholders. On most days, the overwhelming majority of stock investors do nothing, while the buyers and sellers establish the prices. So even a small influx of hyperactive speculators can have a significant effect.
“Investors are increasingly asking us about the participation of individual investors in the shares and options market,” analysts from Goldman Sachs wrote in a note published late last month. “Our data suggests that individual investors are indeed a significant proportion of daily volume.”	“Investors are increasingly asking us about the participation of individual investors in the shares and options market,” analysts from Goldman Sachs wrote in a note published late last month. “Our data suggests that individual investors are indeed a significant proportion of daily volume.”
Jim Bianco, president of Bianco Research, a financial market research firm, said gamblers were a small but important segment of those new arrivals, along with video game aficionados.	Jim Bianco, president of Bianco Research, a financial market research firm, said gamblers were a small but important segment of those new arrivals, along with video game aficionados.
“Is it as big as what would we refer to as the institutional community?” Mr. Bianco asked, referring to mutual funds, exchange-traded funds and professional investors. “Probably not.”	“Is it as big as what would we refer to as the institutional community?” Mr. Bianco asked, referring to mutual funds, exchange-traded funds and professional investors. “Probably not.”
But, he added, “it is big enough to matter.”	But, he added, “it is big enough to matter.”
Stymied sports bettors are sitting on a substantial amount of money. Gamblers legally wagered more than $13 billion on sports last year, according to Eilers & Krejcik Gaming, a research and consulting firm, and estimates suggest illegal wagering is 10 times that figure. But betting has collapsed since the outbreak shut down the major sports leagues. Sports betting revenues in March dropped some 60 percent from February, the firm said. They may have fallen as much as 80 percent more in April.	Stymied sports bettors are sitting on a substantial amount of money. Gamblers legally wagered more than $13 billion on sports last year, according to Eilers & Krejcik Gaming, a research and consulting firm, and estimates suggest illegal wagering is 10 times that figure. But betting has collapsed since the outbreak shut down the major sports leagues. Sports betting revenues in March dropped some 60 percent from February, the firm said. They may have fallen as much as 80 percent more in April.
“Basically, I needed something to try to gamble on or to try to make some money on,” said Sean Moore, a 23-year-old aircraft electrician living in Suisun City, Calif. With an initial investment of about $1,000, he has experienced all the highs and lows of playing the market in just a few weeks.	“Basically, I needed something to try to gamble on or to try to make some money on,” said Sean Moore, a 23-year-old aircraft electrician living in Suisun City, Calif. With an initial investment of about $1,000, he has experienced all the highs and lows of playing the market in just a few weeks.
Mr. Moore’s bets on airlines and casino companies surged roughly 60 percent in about a week. “I was telling everybody: ‘You got to do stocks. Sign up — it’s easy money right now,” he said.	Mr. Moore’s bets on airlines and casino companies surged roughly 60 percent in about a week. “I was telling everybody: ‘You got to do stocks. Sign up — it’s easy money right now,” he said.
But then a bet he made on the casino company MGM — premised on the reopening of Las Vegas after coronavirus restrictions were lifted — went south.	But then a bet he made on the casino company MGM — premised on the reopening of Las Vegas after coronavirus restrictions were lifted — went south.
“It did not go positive like I thought it would,” he said. “I thought that was going to be huge with them reopening.”	“It did not go positive like I thought it would,” he said. “I thought that was going to be huge with them reopening.”
Mr. Moore got into stock trading after watching Dave Portnoy, the president of the raunchy, irreverently juvenile — and wildly popular — sports and gambling website Barstool Sports.	Mr. Moore got into stock trading after watching Dave Portnoy, the president of the raunchy, irreverently juvenile — and wildly popular — sports and gambling website Barstool Sports.
When the coronavirus shuttered Barstool’s Manhattan offices, Mr. Portnoy — who had almost no stock trading experience — reinvented himself as “Davey Day Trader.” With an initial outlay of $3 million, he started buying and selling from his apartment and streaming the results to his loyal readers.	When the coronavirus shuttered Barstool’s Manhattan offices, Mr. Portnoy — who had almost no stock trading experience — reinvented himself as “Davey Day Trader.” With an initial outlay of $3 million, he started buying and selling from his apartment and streaming the results to his loyal readers.
“I have a pretty good feel for when something is entertaining content for them,” said Mr. Portnoy, whose streaming sessions mix confident pronouncements with colorful profanity.	“I have a pretty good feel for when something is entertaining content for them,” said Mr. Portnoy, whose streaming sessions mix confident pronouncements with colorful profanity.
It didn’t start out so well: Mr. Portnoy lost more than $1.5 million on repeated bets that the market would fall. He put in more than $2 million more and turned into a raging stock market bull, clawing his way back to positive territory.	It didn’t start out so well: Mr. Portnoy lost more than $1.5 million on repeated bets that the market would fall. He put in more than $2 million more and turned into a raging stock market bull, clawing his way back to positive territory.
The short-term swings make betting on stocks no different from betting on a game: “Same rush,” he said.	The short-term swings make betting on stocks no different from betting on a game: “Same rush,” he said.
While Mr. Portnoy has been a considerable influence on Mr. Moore, Seth Serrano was tipped off by someone close to him: his brother. Stocks have replaced sports as their main topic of conversation. They keep one eye on market movements, and fire text messages back and forth.	While Mr. Portnoy has been a considerable influence on Mr. Moore, Seth Serrano was tipped off by someone close to him: his brother. Stocks have replaced sports as their main topic of conversation. They keep one eye on market movements, and fire text messages back and forth.
“It’s funny — we talk about it like we talk about the betting,” said Mr. Serrano, 39, who lives in Edison, N.J.	“It’s funny — we talk about it like we talk about the betting,” said Mr. Serrano, 39, who lives in Edison, N.J.
~~Updated June ~~12,~~ 2020~~	Updated June 16, 2020
	The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.	So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.	Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.	A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.	The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.	Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.	States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.	Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)	If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.	Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.	The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.