Betting markets are social systems involved in shared processes of meaning-making. These processes constitute the semiotic matrix (Mitchell, 1998) to
which traders are bound together as a distinct system. This semiotic process is bi-directional: on the one hand the system (the betting market) is constituted by its
elements' (traders) use of communicational patterns. On the other hand, the system's elements evolve through their active participation in the system's dynamics
and in the development and transmission of their shared patterns of communication.
14:00 Musselburgh Oscar Clouds Money will talk.
Many of us woke to find that our Betfair accounts had been burgled following the disqualification of Bingo Dolivate in the 17:00 Carlisle yesterday. As was anticipated (graph 2 below) the horse took a significant walk in the market early doors before being backed heavily into favourite; once again demonstrating the degree and extent to which a number of whales are able to engage in sleight of hand activity to boss the early morning betting markets to their advantage.
William Hill Many small investors in William Hill have had their fingers badly burnt, having jumped into the stock on the back of media stories that the company had signed a strategic partnership with CBS Sports that would give the company a major foundation vis a vis its plan to expand in the US betting market. Shares in the company are down 9% since yesterday over news of a suggested £2 cap on online casinos. For now, the market seems quite content to focus on domestic issues rather than on the potential benefits that will accrue for US expansion. Very bad timing indeed for many rookie investors who piled into the bookmaker after analysts at Jefferies suggested that its shares could more than double on the back of the CBS news.