The Automobile, Finance, and the American Language

The automobile wasn't exclusively an American invention but all the ingredients were present in the US to help create much of the modern world when it comes to cars. 

That's where American out of the box thinking came in.

Linky Links

Stuff I found interesting or amusing and thought I'd share.

- Jonathan Turley on what may be Comey's legal defense. Good primer on the case.

- Predictions for AI security.

- How bank loans actually work.

- The European Death Wish. Think it may be more accurate that European decision-makers reached their nadir with this policy. Hopefully the pendulum has begun to swing back to sanity.

Linky Links

Stuff I found interesting or amusing and thought I'd share.

- Pretty good list of Gangster movies - though I'd say both American Gangster and True Romance belong on the list. Honorable mention to Road to Perdition and though I haven't seen Sexy Beast I did enjoy another under-the-radar Ben Kingsley gangster movie You Kill Me

- Interesting - perhaps a reason to take any Wall Street insiders complaints about China tariffs with a huuuge grain of salt.

- 12 things that Lee Kuan Yew taught me about the world. Very instructive thoughts from the "Warren Buffet of Singapore" via the Farnam Street blog

- Air Force Secretary lays road map to new Space Force

- US credit card fraud down by 75% because of EMV chips. Good! Make sure all of your cards have a chip.

- This is why I won't be buying Ian O'Connor's new book on Bill Belichick. If you want Belichick's story read David Halberstam's Education of a Coach

- So you're saying those 6-foot long CVS receipts gave me diabetes? Knew it!

Sports Betting Credit Cards

With more and more states legalizing sports gambling and even pro leagues like the NBA  embracing the idea I see the next big thing in sports betting as credit cards issued by casinos.

The big advantage local bookies have over legalized gambling is the ability to allow bettors to place their action on credit. You place a bet with a casino - you put the money up front and if you win then you get your bet back plus your winnings. With a local bookie you just say "give me $100 on the Red Sox."

If a casino like the MGM issues a credit card that can be used for all the normal things a credit card is used for PLUS betting then that's a big win. Say you get a Visa credit card from the MGM casino with a $2,000 line of credit - you could used that card (if betting is legal in your state) to place that same $100 bet on the Red Sox but instead of fronting the money $100 of your $2,000 credit would just be on hold. If you win then that hold is removed and $100 is added to your account. BOOM!

If you don't pay your local bookie - he has to chase you down. If you don't pay your MGM Visa card - then the interest just keeps accruing. A legal debt. The vigorish on credit card interest is actually probably more than the vig on the actual bets. Plus the card vendor makes 1-2% on any purchases made with that credit card too!

Card issuers can also have rewards programs geared specifically to gamblers. Points could be earned both for normal purchases and for bets made. Frequent flyer points but for bettors. Maybe throw in a "free" 5-team $5 parlay once in a while or something creative like that. Maybe partner with other companies and have special offers. For example maybe a partnership with StubHub for tickets to your favorite team redeemed through points earned on the card.

Sports betting credit cards are the next big thing in legalized gambling. Write it down.