....I promise! I was working on a sport-related post (see below, in abbreviated form), but I must comment on the political issue of this moment. I'm struggling to keep calm here on Election Eve, so maybe this will be a useful distraction during the day, that and the draw of Sadistic Whist tonight. (topic for another day)
Election Night we plan to go to an election watch party. It will be a late night for us, so I probably will not be back to share my thoughts on the emerging results until Wednesday afternoon (Mountain Standard Time) at the earliest.
I will say that I did warn that this could happen, back before the Michigan Democratic primary, with these words: It's the responsibility of the candidate who loses today to give full support to the winner. For months, Haley Stevens, who lost the primary nomination by only one percent, satisfctorily performed this responsibility to her nation--she endorsed the winner immediately after the conclusion of the primary.
In these last days, though, it was apparent that there was a great deal of friction between nominee Abdul El-Sayed and Stevens, largely around the issue of relations with Israel. She sought some concessions from El-Sayed in order to appear with him in a unity rally over last weekend, and he was not buying it. Apparently she felt disrespected.
Her decision over the weekend to switch and to endorse El-Sayed's opponent, Mike Rogers, was unforgivable and an act of political suicide. She could have simply announced her withdrawal of the previous endorsement, based on whatever personal or political disagreement, and it would have been regrettable but even somewhat comprehensible. This was not that. Rogers has morphed in this campaign from a relatively responsible conservative Republican to a bigoted Trumpist, with one of the scummiest, most destructive campaigns across the country, and that is saying something.
It is fortunate that the campaign has unearthed a number of states with the opportunity to flip Republican Senators, so that holding Michigan's seat for Democrats is not an absolute necessity, though it remains urgent. El-Sayed's lead in polls was small--much smaller than that of Jo Benson for the governor's job there--and I would say his chances are no better than a toss-up. Stevens' betrayal may make a difference, particularly for some pro-Israel voters who are not following the facts of El-Sayed's campaign and his efforts to show that he is not, in fact, anti-Semitic
Reasons Why I Only Play on PredictIt
1) I continue to find their disclosure of the terms of play acceptable; they have recently removed the fee for removal of funds, in an effort to attract more flight money.
2) Kalshi and Polymarket are spending the profits they make off their bettors to promote themselves with expensive TV ads. I find the ads well-done, clever, but just battling for commercial brand superiority, nothing more. On the other hand, PredictIt is nominally a product of an academic institution in New Zealand that does little or no advertising.
3) I considered going into Kalshi but stopped when the required initial deposit was proposed to go through something called Plaid, which disclosed its intention to sell the information I would give it. Polymarket was not legal for my participation at that time (the opposite of PredictIt, which is only for US residents). My betting data is studied on PredictIt by those who put it out there to understand how crowd behavior could be predictive in politics and elections.
4) I believe Polymarket now has a second market legal for US citizens, given the lax regulatory environment. The body entrusted with regulation of these entities is the CFTC**, which now is a Trumpian rubber stamp, but it performed a thorough review of PredictIt during the Biden administration.
5) PredictIt cleaned up its act and now stays on its topics of politics, government, domestic and foreign, and nothing else. Those other guys do most anything, which subjects them to being targets of big whales. Worse, of those wannabes who have inside information. Betting on sports is a whole other thing, one for a different post at a different time. Nate Silver, please note.
6) PredictIt's supposed vice of insufficient trade volume is a virtue for me. I can generally take any bet positions I want (for small stakes, mind you), often at the front of the line with the bid, and most of them get taken up sooner or later. Less volume=more volatility, and volatility in prices is where I make my money, apart from pure guesswork. (Needless to say, I believe my guesswork is better than most, but a) that's what everyone thinks, and b) I probably don't have enough confidence in my guesses and often sell before my ideal rule-based sell strategy.+)
I have played on PredictIt for over 10 years; but even before that, I was on Rasmussen Markets until just before it went belly-up As I recall, I lost most of my stake there on the Obama-Hillary primary of New Mexico, believing its winner to be a sure thing halfway through the evening. Rasmussen, bleah!
I say "play" on PredictIt because I follow strictly the reasonable gamblers' guideline: put in no more than you are comfortable losing entirely. I didn't put in a lot way back then (less than $1000), and I'm basically still playing with that money. Not that I haven't had a couple big loss evenings along the way (2016 and 2024 come to mind). I do have a few strategies now which have allowed me to sujpport most often the outcomes I want to see win without losing it all.
Rulin' and Brewin'
I tip my cap* to the Milwaukee Brewers for their impressive World Series championship. Not only did they answer my question from a previous post by defeating the Dodgers, they swept them, setting records along the way.***
They were a classic type of team with strength "up the middle"--(catcher, the middle infield, center field)--which means good defense, which in turn assists the pitchers' efforts. On offense, they had all kinds of good habits, from the pitches they chose to swing at, to the launch angles they chose, to the behavior on the basepaths.
I see this World Series to be a significant, memorable one for a few reasons:
It was a showdown between the two teams that were clearly the best in each league during the full season. This used to happen every year (before the split of the leagues into divisions in the Sixties), but with the expansion of the wild cards has become a rarity.
It was a finals matchup of franchises with long histories of not making the World Series, and of being teams that had never won it. This is also rare these days, and has a different flavor, one that is fresher than the norm..
It is the last World Series before the coming owner lockout, and it will be remembered fondly in the future, after the lockout someday ends. The upcoming battle at the end of the previous contract will be an entrenched struggle between the owners, who want to restrain their colleagues' excessively free-spending ways (not their own, of course, the other guys), and the players association, which refuses to give the ground the other major sports' money-generators (the ones who play) ended up having to do. I feel this can only end one way, but it may take awhile, during which there would be no "baseball"****activity.
I"ll cover some other sports separately in the near future.
NOTES
* Let's be clear: my cap is a Reds one (though I had a Padres cap, recently used in a post, which I had found around and given to my wife.
**Commodities Futures Trading Commission. Go figure.
*** But not breaking the record closest to my heart of the longest run of perfection in winning the Series, which is held by the 1976 Cincinnati Reds' Big Red Machine. Yes, I must repeat that.
****I forgot to include the lazy, inaccurate conflation calling Major League Baseball' as "baseball" in my recent post about my "Bugaboos" . The sport will continue without MLB games, in other places than the US and Toronto, too.
+ In a nutshell, it's to sell when you have reached 80% of your potential profits (a Pareto principle). It reduces risk of regret in those cases that you lose. This means to hold onto your most profitable bets until nearly the bitter end, and I frequently have not had enough courage to do that. My current approach is to gradually shed some of those not-fully-realized gains to free up some cash from my limited stake (almost always fully invested) for new markets of interest, which often emerge.





