Wednesday, April 21, 2010
The money pit: Feds approve another box office futures exchange
Los Angeles Times: For the second time in a week, federal regulators gave preliminary approval to a company that wants to create a market for betting on the future box office receipts of Hollywood movies – but don’t rush to place your wager.
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This sounds more and more unfortunate. While I can't really argue that people shouldn't be able to bet on what they want to bet on, but I hate the idea of more meta-industry surrounding tickets. On hollywood movies, I understand that it seems like more of a commodity, but surely the betting would effect ticket prices in some respect, at least when (not if) the betting organization gets interwoven with the MPAA. I really hesitate to think that there ought to be more rackets run by hollywood executives. The existing ones already aren't working so well for us.
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