Posted on Tuesday, December 1st, 2009 by Hunter Stephenson
“Dad bet my NYU tuition on The Road and now we’re homeless.” The concept of organized box office betting is nothing new—see the simulated and long operating Hollywood Stock Exchange. But with the incorporation of real dollars, might the concept be new to the mafia? A start-up website and business called The Cantor Exchange is awaiting regulatory approval to open the floodgates on real time betting on Hollywood productions, beginning six months before a film’s release. The company behind the Cantor Exchange is Cantor Fitzgerald, a global finances firm that also operates the aforementioned HSX and will implement that site’s infrastructure with a capitalistic twist.
Information gathered by the HSX reportedly already informs legitimate box office betting in the UK, and foreseeably anyone of age in the U.S. will soon be able to participate. But what are the implications of online betting for Hollywood (Showbiz 411 wonders about insider trading), not to mention for the state of film? And c’mon, what geek or arm chair analyst isn’t channeling Gordon Scrooge McDuck Gekko IV right now with dreams of getting paid, bitch? Right? Or Wrong?