Yahoo Sports· 1h ago· 1 min read
The intersection of sports and gambling has created the very real risk of inside information being harvested and utilized to give bettors an edge. Throw in the ever-growing prediction markets, and the folks who know things as part of their jobs have real power.
The recent LeBron James guessing game illustrates how a world of unregulated inside information can move markets, and can allow some to make money.
Consider the Miami Heat social-media snafu that resulted in the Miami Heat leaking news of an upcoming introductory press conference. Even if it was a mistake (Schefty was pushing the idea of LeBron to Miami in a Thursday appearance on radio in Philly), some of the people who saw it or heard about it surely placed wagers that James would sign with the Heat. (And, if they did, they lost.)
Then there's the issue of having personal access to one of the top insiders covering a given…
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