Complex Systems with Patrick McKenzie (patio11) Bet on it: Zvi Mowshowitz on professional gambling, trading, and AI futures
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Aug 8, 2024 In this insightful discussion, Zvi Mowshowitz, a professional gambler, trader, and AI journalist, shares his diverse career journey from Magic: The Gathering to sports betting and AI commentary. He dives into the nuances of informal and financial markets, revealing the intricacies of sportsbooks. Zvi reflects on decision-making during COVID-19, shedding light on the chaos of vaccine distribution. Their conversation also touches on the transformative potential of AI and the importance of consistent actions in personal happiness.
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From Bartering to Buying
- Zvi Mowshowitz recounts his early experiences with Magic: The Gathering, highlighting the role of trading.
- He transitioned from bartering cards as a kid to buying them directly as an adult, finding the latter less exhausting.
Exploiting Mispriced Bets
- Professional sports gambling involves finding and exploiting mispriced bets, much like other trading forms.
- A key skill is line shopping, comparing odds across sportsbooks to find the best value.
Target Squares, Not Sharps
- In sports betting, identify and exploit the biases of less informed gamblers ("squares").
- Minimize trading with other "sharps" (informed gamblers) to maximize profits.