Big Bamboo

How to play Big Bamboo

Some exchange operators already filed plans to introduce KPI-linked event contracts. Those derivatives would be tied to metrics such as corporate earnings or, in more nuanced cases, Apple iPhone shipments or Tesla deliveries — just two examples — in a given quarter.

While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

What is Big Bamboo?

While the intention is to protect vulnerable households and ensure welfare is spent on essential needs, proposed measures are being complicated by legal, technical and privacy obstacles.

Harris Tsangarides, executive director of the Gaming & Casino Supervision Commission, said his department had noticed spikes in gambling activity coinciding with GMI payment dates, prompting the regulator to consider “technical solution” to cross-reference GMI beneficiary lists with casino membership records.

An issue raised by Giannis Vasiliadis, director of WBAS, was the limited access to recipients’ banking information. This limited data can hint at suspicious activity but cannot conclusively verify gambling transactions.

About Big Bamboo

“Therefore, we have been having this debate,” he added. “I have been to Congress, the Supreme Federal Court, and the Attorney General’s office to talk about the impact of betting on the lives of Brazilians.

“We have made progress, such as increasing the direct tax to 15% and including the activity in the Selective Tax. Those benefiting from social programmes and those who joined the Desenrola programme were also prohibited from betting.”

He also pointed to the self-exclusion mechanism adopted by the government.