How to Place Your Belmont Bet

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

June 6 (Bloomberg) -- On today’s “The Roundup,” Alix Steel, Eric Chemi, Matt Miller and Jonathan Ferro wrap up the day’s top market stories on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

And so it's time for the roundup, some of today's data stories.

We are here with our resident did coin expert matt miller.

Matt, has been going come out of the shadows?

I am not an expert.

I just pay attention.

Nerd.

I minerd.

I sit on reddit until 1:30 in the morning.

So, is it coming out of the shadows?

There was -- so, ebay said that he was thinking about it.

The paypal ceo said so long bitcoin.

Apple will enable you to more easily use bitcoin with your iphone so you do not have to switch over to an android phone, like i had to do.

Didn't we all hate that going a couple months ago?

I love that.

Didn't investors hate it?

No, investors loved it.

Today.

[laughter] you are a data guy, right?

Look at the money.

2012, only 2 million bucks invested.

Last year, 88 million dollars.

This year, and we're only halfway through ,1 $113 million.

Mark andreessen likes it.

Barry seibert likes it.

Tim draper likes it.

I mean -- all of these huge-- there is a great book that explains is the value and uses of bitcoin beyond the currency and i think that helps a lot to add a wider acceptance to it.

So, the money talks and it is there.

It is flowing in.

I'm not saying it will not still be volatile.

The price of bitcoin may go down 50% or up 50%. i'm not saying you need to go invest in it.

I am saying it is here tuesday as a digital means of transferring ownership or value and wake up.

Wake up.

Everyone has their bitcoin copycat currency.

It is not the benchmark.

At this point -- that is our next story, actually.

There is this and then there is this.

I worry.

There is volatility about that as well.

It is early days.

Very early days.

I heard someone on another network saying, hey, the volatility smoothed out.

What, since november?

We are talking a decade may be to smooth out.

Is it another bubble?

Maybe?

Uber, a valuation of $70 million.

The car service was rated at one point $2 million.

$17 billion -- that is worth more than public companies including hertz rentals and best buy.

Hertz, the company that said we screwed up our numbers for the last three years.

And best buy, a company where no one ever buys anything.

You forget.

I like best buy customer service.

You do?

It is not what we normally think of.

Right, like fidelity.

That is the thing to notice.

Normally this is a west coast, silicon valley, d.c. type of trade, but that is not happening, which might give legs to what you might thing is a bubble.

And they have rivals.

Now, you might think of them as being a competitor.

It also gives them a bigger of base to answer to because they have such a high valuation.

It may not necessarily be a good thing.

It is a huge number.

But it's not whatsapp.

They have to root themselves in a particular way.

Do you use uber?

Yes.

Do you use uber?

I use it specifically.

I use it for the green cars in brooklyn so i do not have to pay through the app.

I thought you're going to say something else.

I do not know what that means.

The world cup -- according to the soccer governing body 5 -- fifa.

Fifa?

It doesn't matter.

It's only soccer.

Oh!

fifa is spending about $2 billion on staging the event in brazil.

They will make $4 billion or $5 billion.

They will make a lot.

11 million people want to buy tickets.

100,000 is a rounding error on what will be available.

It is still messy.

100,000? that is still messy.

They are going to be in full vision of the camera.

Who is not going to notice that?

They need to pre-reserve these tickets.

They had to have over allocation, make sure they were covered -- at the olympics you could not get tickets for six to 12 months before the olympics and then guess what?

Tickets were everywhere.

That is true with the lot of big huge games.

The prices go like this, right before the game they go like that.

Just pick yourself up a last-minute -- can i just say soccer is dead boring.

Matt, matt -- i would rather watch a 5-day cricket match than a 3-hour soccer match.

Yes, deadly, deadly boring.

If you are thinking of placing bets on california chrome, consider this.

He would be the first course to do it since 1978 to get the triple crown.

He is the odds-on favorite, but the smart money says maybe you should look elsewhere.

The smartest money i know, sitting right next to me -- you have done some work on that?

Data shows betting on the favorite is usually a bad that because too many people bet on the favorite.

You're not getting odds that are worth the value of the horse.

Also people tend to bet on grey colored horses because they stick out visually.

Post positions seven they think is a lucky number.

What it is ridiculous.

The horse is not faster.

The biggest longshot, you want to avoid that, too.

They will bet on the worst horse.

Those odds goes against your very what you want to do, do not bet on the win win.

Bet on the place.

If he gets a top two, you could win as much for second place as for first.

That is how you get a free option.

Are you going?

Yes.

Are you betting?

Yes.

What are you going to do?

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change