Personal Finance: A-Rod’s Sports Betting Venture Matters for Markets – Bloomberg

The most important news for long-term investors is rarely in the headlines. Great contrarian plays rarely come from things most people don’t believe, rather they are based on things most people ignore.

Take the recent news that baseball great Alex Rodriguez — who gained the moniker “A-Rod” during his playing days — and his business partner, Marc Lore, are investing in a new company aiming to be a “stock market’’ for professional athletes. This might be the most consequential investing news of 2022. No, not that Rodriguez is putting money into something called Mojo that will allow fans to take a position on players whose values rise and fall based on their performances on the field, but that a quiet revolution is taking place in sports betting, attracting venture capital funds and interest from insiders without much public exposure.

Source: https://www.bloomberg.com/opinion/articles/2022-03-15/personal-finance-a-rod-s-sports-betting-venture-matters-for-markets

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