*The betting on Lebron

lebron-james.jpgFor what it's worth, the online betting market Intrade has Miami leading the pack of contenders for the superstar. At last check, there was a 55 percent chance that James will be joining the Heat. That's no doubt in response to an ESPN report that had him leaning towards Miami. But the Heat bet on Intrade has been falling sharply from around 70 percent. After the Heat, it's the Cavs at 23 percent, the Knicks at 16 percent, and the Bulls at about 5 percent. Late yesterday, shares Madison Square Garden Inc., which includes the Knicks and the MSG Network, shot up, leading to speculation that the Wall Street guys knew something the rest of us didn't. But the stock is down sharply this morning. Quite a bit of money floating around on where he'll end up (and that doesn't count the small wagers you're making with your buddies). He'll be announcing his decision on ESPN tonight at 6, but I'll bet we'll know before then.

*The Intrade numbers are bouncing all over the place, though the Heat is still the most likely choice.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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