Wasn't around to personally witness it, but I do not believe the first part is true: https://www.princeton.edu/~ota/disk2/1990/9015/901507.PDF https://www.prin

Wasn't around to personally witness it, but I do not believe the first part is true: https://www.princeton.edu/~ota/disk2/1990/9015/901507.PDF https://www.princeton.edu/~ota/disk2/1990/9015/901507.PDF, specifically page 94. Also, IMO there is a big difference between an open market that allows for price discovery and free trading versus placing bets against the same casino at predetermined prices.