Velocityshares Daily 2X Vix Medium Term (TVIZ)

[gldtimer]

UK Bookies 'Could' Well Have Been Manipulated.

It happens when markets which should be in sync can't arbitrage. An example is horse racing simulcasting from a small handle track with betting also at a Vegas book paying track odds.

Say the favorite at the local track is going off at 1:1, but a last second bet by partner 'a' on the second favorite raises the odds to 2:1. Assume it cost $10,000.

The betting partner 'b' in Vegas had down $50 k, knowing that 1:1 is a fair price but 2:1 is way better. They net $90k with the $10k loss at the local track subtracted. Best cash the ticket quick and skip town before they figure out what happened at the local track--lol.

Same thing in the UK, for a small amount of money the line on Brexit was moved with massive money then going into the pound and other risk-on assets. The betting market is chump change compared to the trillions in asset value.