so this bet is completely a false bet. >> why jason didn't place the bet is unclear.ecided to pocket mark's money instead. regardless, this gave mark wu 17,000 reasons to seek revenge. (mother vo) when i was pregnant... i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance-before and after the baby is born. simple is good right now. (anncr vo) innovations that work for you. that's health in numbers. unitedhealthcare. q. we'll be here at lifelock doing our thing: you do your swipe from anywhere thing, watching out for your identity, data breach or not. get lifelock protection and live life free. >>> investigators now suspected that jason mcguigan was murdered because of his gambling activities. in jason's personal files was evidence he placed bets through olympic sports, an off-shore betting agency in the caribbean. >> he would call in and they would tell you the l

i don't take bets. i'm the one that tells you who to bet on. -absolute blowout winner. -play $11,000. i'm not the bookie. i'm a bookie killer. ♪ if money talks then i got a lot to say ♪ ♪ i'm on the ground tryin' to make a hundred thousand dollars a day ♪ ♪ the game that i pick believe me it's a winner ♪ ♪ what i know can get you rich 'cause all i pick is winners ♪ ♪ welcome to las vegas ♪ money talks money talks ♪ ♪ welcome to las vegas steve: where i come from-- las vegas, sin city-- it's the place where you take care of people. that's how i was born and raised. it's the city of lights, the city of entertainment. when a big client comes into las vegas, my job is to take care of these people and show them a time they've never seen before. because, after all, you're trying to bond with this client to get their confidence and to bet more money. steve stevens. lee pappas. -how you doing, buddy? -pleasure to meet you. -how are you, man? -good, how are you? -you ready to tear up the town? -yeah. steve: here's lee pappas, another one of my good clients. it's a guy that is a

, but i'm not a better and i'm not going to actually bet. but i'm hoping he wins. >> california chrome's co-owner, steve colburn, has bet his own money on the horse when he defied odds of 200 to 1. >> he loves people, and we have all of america on our side, other than the people that have the horses running against us. >> coburn and his gins partner are rare breeds in the sport of kings, without much personal wealth, they bought his mother and paired her for less than $11,000. as the triple championship, california chrome could be worth $10 million or more. to these enthusiasts, the thrill of a good race is attractive, but as a betting proposition, the horses are suffering from serious competition. as americans find more legal ways to gamble at casinos and even online, betting at the tracks has fallen by more than one-third in the past ten years. attendance is down just as much, and without enough revenue from wagering, the racing industry is seeing more tracks shutting down. this race, and the story behind california chrome is teaming nowhe

but what is the unlikely winner traders are betting on?> and we'll tell you why there's a problem with yahoo and where you can cash in. >>> and we'll tell you what it could mean for the market's rally. the action begins right now. >> these are the traders in times squa one major question looms, what will send stocks higher in the second half? dan, what are you thinking? >> this week, we got some earnings. nike last night, they were fine. dupont gave a disappointing outlook. the stock got hit hard. a holiday-shortened week next week. when investors get back, they will be focused. bank stocks, many report in the second week of july. that's going to be really the first look at some of the largest companies, what they're thinking for the second half of the year. >> this is a space that some investors love to hate. probably what they're going to be announcing, people would be buying them hand over fist. -- the diverse financial -- they're even cheaper. trading at about 11.5 times. obviously, there's a lot of concern. so much headline risk, regu

bet on the ponies and in the casinos. but state law says neither racetrack nor casino can take bets on the big or little games of any sport, pro or college. >> this could save live horse racing in new jersey. >> this man operating a track and sees legalized sports betting as a salvation for an industry that has been on the ropes despite some success in stopping the red ink here in recent years, allow legalized sports betting at the track and his sports bar will be hopping. >> if you were offering live sports bet, they would be lined up from here to ocean port avenue where you came in. >> the state senator is a big supporter and isn't that worried. all the supreme court said was that the state can't regulate sports betting. simply repeal the state law that says casinos and racetracks can't handle wagers and start placing your bets. >> we won't be regulating it. there will be self-regulated. they are their licenses to protect as well. >> ask patrons here and it's easy to find support. >> it will bring more customers to the

one trader is betting it will go higher than $4 million. the action starts now. [ music playing ] welcome to the nasdaq market site. i'm melissa lee. new record highs, one vital part of the economy just can't catch a break. the utility sector by almost 20%. so this vital group is lagging, what does that say about the market as a whole. let's go to the money and find out. dan, this is a big part of the u.s. economy. >> investors don't seem that concerned about it. until last week. we highlighted it last week. there was a buyer of the december puts. a lot of retailers in that. we have 150,000 in the december 26 puts, it's way down side. i don't think it gets that drastic here. you are talking about one of the worst performing sectors. it's down on the year. what does it mean? to me, it means investors don't fwlee to do with housing and a rate this uncertain. >> one of the things we have to remember is shp was one of the bekt sectors of late 2011. it's up the same as the s&p is over that period of time. the thing you should be concerned about

i am not actually going to bet. i don't know if i will everybody bet on him.ping he wins. >> reporter: california chrome's co-owner steve coburn has gambled his own money on the horse. back before the derby when he defied odds of 200-1. now his colt is the heavy favorite to repeat at belmont. >> he loves people. and we've got all of america on our side, i do believe. other than the people that have these horses running against us. [laughter] >> reporter: coburn and his business partner are rare breeds in the expensive thoroughbred game known as the sport of kings. without much personal wealth, they bought california chrome's mother and paired her with a pedigreed stallion for less than $11,000. as the triple crown champion, california chrome could be worth $10 million or more. to these enthusiasts the thrill of a good race is still attractive but as a betting proposition, the horses are suffering from some serious competition. as americans find more legal ways to gamble at casinos and even online, betting at the tracks has fallen by more than one-third in the

the betting industry might be the most excited of all. >> in betting man britain, over a billion euros on the line. those backing england to win the cup are likely to lose their stake. >> the english are not only crazy about soccer. they also love to take a punt on the game. almost everyone in the united kingdom makes at least one bet on who will become champion, how far england will go, and how many goals wane no -- wayne will score. >> i have got an ambitious. i have to do that, being english. >> i think i have about 80 pounds on brazil and about 20 on argentina, basically. >> makers are doing brisk as this. the industry expects to handle one billion pounds worth of bets, peaking at seven bets a minute on the date of the final. for industry leader william hill, that could boost turnover by 200 million pounds. >> there is a huge run of money or england, which is fantastic all stop they have made us a fortune since 1966. outside of that, it is all about itself. argentina has a little bit. germany, a few pounds. as long as brazil does not end, or england, we should do well. >> englund a

david gersenhauber is here with his best bets.ut what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. ...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare. >>> welcome back to the halftime report. let's talk stanley cup. tonight the two biggest media market miss the u.s. -- new york and l.a. -- begin to battle for the stanley cup. it's the first time for the rangers in 20 years. that's sending ticket prices soaring. average ticket, $1,437 for the di kings and $2,376 for the rangers which means the highest home average price in a

why can't i bet.ortal code means i have the choice to do the moral thing or not. >> because no man is an island. there is a ripple effect. there are misconceptions about winning and betting. >> what is my misconception if i want to risk my money playing blackjack, my choice. >> we influence other people. we have got to acknowledge that there is a god. our founding fathers believe in god and a moral code. that's what we got to recover. if you don't want to be a christian, you're free to be an atheist. but don't destroy the mill ooh that gives the freedom to be a christian see? >> no because my relationship with god is personal and i can only make a choice if i'm free to gamble or not. so if you ban it, you're making my choice for me. >> that doesn't follow at all. it is economical and socially detriment detrimental. it is contrary to the message we want to send to our children and their descendants. >> poker? some kids now learn math playing poker. >> of american youth 12to 17, 80% have dabbled in gamb

so we had a bearish bet that near-dated option is essentially worthless. back right now and we're basically flat, and we could roll that into another calendar. as far as i'm concerned, this is one of those situations where doing these calendars allows us to put the short bet on and it's not costing us anything to do it. >> what would you do, dan? >> when they put the trade on, i agree with the thesis, but i hate the idea of trying to pick a top. i tried doing that in iyt a month earlier and got my face ripped off. look at it here. it worked out initially. the etf only sold off $5. now it's at those highs. this is probably a better shot where it has a shot of being rejected at the prior high. >>> all right. coming up, it's today's $4 million bet that this hot name will keep flying. so what's the stock, and how can you profit? find out when "options action" returns. [bell rings] ♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade. humans. even when we cross our "ts

it's what dan tried to do with the bullish bet on ge.ant was headed higher. >> options are cheap. the stock looks poised for a breakout. >> but buying the stock 100 shares set him back almost $3,000. >> oh, right, i'll have the put the question another way. >> so to spend less, dan bought the july 28 call for 16 cents. that gives dan the right to buy ge shares at that vike price. now, to make money, he needs shares of ge to rise above the $28 strike price by more than the cost of the trade or above $28.16 by july exper ration. anything below that level, and dan will see losses, but the losses capped to the 16 cents he's spending. it gets better. if ge shares rise, the call increases in value faster than the stock meaning more money in dan's pocket. >> yeah! >> but since the time of the trade, ge shares have dropped 2%, making this trade a loser. >> and, eventually, we shall succeed. >> and now "options action" fans want to know, what do you do with the ge trade now? >> before we answer the question, dan, maybe this makes you feel better.

jackpot, vegas gaming revenues are soaring, but we'll tell you the unlikely winner, options traders are betting on. and how you can make money too. >> plus. >> houston, we have a problem. >> the albaba apo. why is the market lagging so badly? it's not that complicated, but we'll tell you what it could mean for the market's rally. the action begins right now. >>> live from the markets, these are the traders here in times square, and the markets's record setting run continues, what will send stocks higher in the second half? why is the market lagging so badly? it's not that complicated, but we'll tell you what it could mean for the market's rally. the action begins right now. >>> live from the markets, these are the traders here in times square, and the markets's record setting run continues, what will send stocks higher in the second half? let's get in the money. and, dan, how are you looking at the second half at this point? >> well, listen, this week, we got earnings, nike last night was fine, left the guidance in march alone. dupont gave a disappointing outlook, the stock hit hard, and holida

a bet on him is a good bet. >> jon najarian making a bullish bet on a utility player, after spotting call options activity. doc, focusing on this error heavily this week. >> yes, sir. >> as i always do. what do you see today? >> extra energy judge. nee. it gets interesting because one of my favery s ryorite setups, money off the table, sticks with it, rolls up and out. they did it in this one. expiring june calls. held it a long time, because they were in these calls, and the calls only have one more day to live, because tomorrow's explanation today. sold them for $5. some 5,000 of them. they were 50 cents last thursday. this is somebody, talk about stepping up to the tables. this is somebody that really know what's it feels like to roll those bones and rolled up to the 100 calls out in january, judge. to me, very bullish bet, right at the money after taking a lot of money off the table. again, tenfold from last ter thursday to today on the 95 calls, then rolled up and out to january. >> you're in it? >> in it, probably for a month or more. >> in both the options stock? >> only in th

. >> i am learn to go bet, but i am not a better. i am not actually going to bet.w if i will even bet on him. but i am hoping he wins. >> reporter: california chrome's co own are, steve coburn, has gambled his own mon out course back before the derby when he defied odds of 200-1. now his colt is the heavy favorite to repeat at belmont. >> he loves people. and we have all of america on our side other than the people that have the horses running against us. >> reporter: coburn and his business partner are rare breeds in the expensive thoroughbred game known as the expense of kings, without much personal wealth they bought california chrome's mother and paired her with a pedigreed stallion for less than $11,000. as a triple crown champion, california chrom chrome chrome h more than $10 million. but as a betting propositions are horses are suffering from some serious competition. as americans find more legal ways to gamble as casinos and even online, betting at the tracks has fallen by more than one-third in the past 10 years. attendance is down just as much, and witho

. >> this is the single biggest betting event in history captioning sponsored by cbs this is the "cbs evening news" with scott pelley. congress that he is doubling the number of u.s. forces headed to iraq. these new troops are being sent in with helicopters and will be equipped for combat. it was just 11 days ago that president obama announced that 300 advisors were headed to baghdad to help iraq fight an extremist insurgency that threatens to tear the country apart. but he insisted at that time that u.s. forces will not be returning to combat. apparently now the mission is growing. major garrett is at the white house for us tonight. major? >> scott, white house officials insist this is not a signal of mission creep in iraq. they do acknowledge this means more forces with combat capability will be in baghdad but argue their only mission will be to protect u.s. embassy personnel, secure baghdad's airport and if necessary beef up military escorts in the event that the security situation in baghdad worsens to the point where large scale evacuations of u.s. personnel are required. these n

how much you would win betting on this horse next. >> live, from the cbs bay area studios, this is kpix5 news. >> tonight, the fbi says a nationwide man hunt for this guy was about more than just a bomb. he was up to something far more sinister. >> andria borba found out he was digging around in some of the deepest darkest places on the internet. >> reporter: we initially thought this was just about explosions found inside ryan chamberlain's apartment, but tonight, we know the feds were looking for toxins that can kill. suddenly the hasmat suits worn at chamberlain's apartment make sent. according to an fbi affidavit, he tried to buy abarin. a poison. >> you can't buy it. people don't have it in their possession without some sort of ill will. >> reporter: not surprisingly, it is not available by google search. the affidavit continued to say chamberlain was trying to buy it on black market reloaded, the successor to the silk road that the feds took down this winter. >> you can buy things like drugs, guns. >> reporter: its accessed via the tour network. a dark corner of the internet. paid

plus, forgive open table, old tech could still be your best bet. we'll give you the name traders are buying. and, well, that's cheesy, it shower shes what biotech did the week. we will tell you why there are even more gains to him co. the action starts now. live from the nasdaq markets, i'm melissa lee. these are the traders here in time's square. well, that was quebec the markets are shruging off the least turmoil, today's move following a similar pattern, check out this cart. each time a geopolitical crisis is cleared up. the pull back always recovers and rallies higher, so the we expect a similar result this time? oil's biggest gain for the year, this woke. >> well, it's interesting, because, of course, we are looking at oil in the context this is the last year or some if we go back and take a look at previous geopolitical events or park turmoil, go back to 2011, for example, we had a couple month period, we saw crude oil go up about 20 bucks at that point, fall more than 20 if 45 days that followed it, this isn't as incred bring volatile as you

it turns out, daughters are actually a better bet than sons. this is all, don't shoot the messenger here, all related to new harris pole. it finds that daughters are less likely to move back home after they're 18. they are more financially independent, and they are also more likely to care for aging parents down the road. pretty interesting. ukee, erika? >> hey, you make an investment up front, but you know? >> exactly. >> works out well. >> thanks, jill. appreciate t coming up aftfter a short break, traffic and weather together. we do it on the >> 4:53, with traffic and weather together. >> we showed you few momts ago, that steam pipe that burst last night, right underneath the pennsylvania convention center, so looking live right here at 13th street, between arch and race streets. so, actually the crews just up this barrier. this is a sign it will be closed through the morning rush hour. so, let's go to the maps. if you are coming into or through center city, this morning, it is going to be a little rough. if we can go to the maps, there agai

to make a different bullish bet, he sold the strike put for a $10 credit. the etf stay at 235, he gets to keep that cash. mike sees profits at 225 at july expiration. below that, he could run into big trouble because by selling that put, meek could be forced to pay $235 for shares of the ibb, even if they fall all the way to zero. >> so what do we do? >> well to define his risk, mike ten bought the july president for $6 and created his bull put spread but he did something else, he put the odds in his favor. he sold the higher strike put and the lower streak put, meek took in a total credit of $4. that's the most he can make on the trades. mike won't see losses until the etf falls below that high put strike price by more than the $4 he put in or below $231. below that level, mike be see losses, by boy tag 225 strike put, meek has protected himself below that level. in other words, mike found a way to do something the greatest scientific minds haven't been able accomplish, make money, whether the shares go up, down, or nowhere at all? since the time of the tr

but i bet it makes it harder for france to agree to stuff. i bet it doesn't help. i bet it's really unhelpful when american says to europe putin has done this, we need to do some serious tough sanctions now because the western world needs to alie itself against russia. does it matter that so many of these far right parties have basically more sympathetic to russia than america? i bet it matters in terms of whether europe goes along with those tough sanctions or doesn't. when britain comes through and says, high are the concessions that we would like. plenty of conservative members of parliament who don't like their prime minister, they think if they had a much tougher, more anti-european, more anti-immigration line, their seats will be safer next year at the general election. that will dramatically impact david cameron's room for maneuver. it will harden the list of thing they ask for if we get to that point. it will make britain much less realistic about what is possible and the other parties will make it more difficult for national government to let britain have

who should re bet on?s. peter rotundo, vice president of breeders cup. full disclosure. we go way, way back. saratoga, about 11 years ago. i posted pictures. why the long face? there's another one. ding, ding, ding. how will we bet? i like california chrome, but will i make any money? >> a conservative way to bet. bet across the board, win, place, show, but you won't win a lot. cash in a ticket? i won the belmont, won $7? no. go for the trifecta. the first three. one, two, three, any order. trifecta box. perfect trip, last two. get another perfect trip. rooting for a cripple crown. commissioner, reminds me of a horse who won 30 years ago. he'll hit the board and then boston's horse, wicked strong will be -- >> wicked strong! >> flying down the stretch, late, late, late and maybe a little photo finish and we'll see who wins. >> reporter: okay. why do you think it's been so long since we've had a triple crown? >> it's just so hard. right? this -- three races in six weeks and a mile and a half at belmont. thi

it was a bullish bet.ore and they continue to be bullish. >> and the stock has been act willing for a while. if one tries to figure out how a stock bottoms, this has been going on for several months. >> let's talk about some other unusual options trades. let's take a look at gmc, green mountain. we saw a big spike in the afternoon trade and we saw a weird trade on the options side. >> in general motors, pete was talking about the ford trade earlier. what happened in general motors earlier is much of the same kind of activity. people are taking advantage of the fact that options premiums are low. in many cases they've made profitable bets. they're taking the profits and extending their bets out. what we saw in general motors specifically was a buyer -- a substantial buy of the 3943 call spread going to september. it seems in many instances these guys are going after the previous highs which in that case in general motors' case was $41.50. >> i was actually asking about gmcr. i said green mountain keurig. >>

south up on his bet. >> thank you to all of our witnesses. i appreciate you bringing your expertise. we have heard today that climate change is having impacts on the ground right now. it is not an abstract theory. it is not about models, decades, or multiple decades into the future. changes on the ground right now are real and measurable. they are affecting americans' livelihoods in farming and fishing and four street. these are real jobs and a real impact on this generation. we have heard about bark beetle infestations. migrations of fish. the impact on intensifying wildfires. the impact of magnified droughts. more acidic oceans in the pacific. their impact on oyster reproduction. i have to wonder about, if baby oysters are having troubles forming a shell, how many other shellfish impacts are there that are going to be problematic for the food chain in our oceans and our fisheries? these things are real at this moment. they confront us with evidence that must not be ignored. certainly, this is in the context of debate at this moment about sp

. >>> it's no wonder that the betting site called bet safe, they actually had a prop bet where you couldbite someone or not during the world cup. the odds were 174-1. 39 people actually took the bet, and of course they've now won including one person who admitted they just added $3,000 to their bank account because he bit another human being. >>> on to another great match. greece and the ivory coast. the greeks hanging on to a 1-0 lead. look at that passing there. the equalizer. that was just beautiful soccer. or futbol. in the 74th minute, there was a late penalty in this one. sort of questionable on the ivory coast. the match almost over. ivory coast was going to advance. they called the penalty in the box. greece got the free kick, so they advance to the round of 16. >>> also yesterday, it was a scoreless draw between a lifeless england and costa rica that landed the central americans at the top of group d. they'll face greece in the round of 16. who had that one, costa rica versus greece. also, we saw japan, they got dominated by colombia, 4-1. now, today the final matches are in gro

so, i mean, it's -- >> when you say they bet against it, what they were doing is betting on the housingashing. >> that 's exactly right. once they put the entire economy in precarious situation, they bet that it was going to be a disaster. >> so why aren't people in jail for that? >> i mean, everybody talks about too big to fail. it's really too big to jail. goldman, one little hustle, they kind of paid a $500 million fine but it was one of those deals where you don't have to say you really did anything wrong. you are willing to pay $500 million but you don't have to say we did anything untorrid. >> and those have been controversial. judge raycroft in new york rejected some of those deals by the doj. the fines aren't as big as what they made. i want to go to this piece and get your reaction on it. another part of our report today and one i was promo'ing is the mixing of money of money and dr addiction. our partners at vocative tell the story of a trader who had it all. >> i would give doctors big checks. you know, $2500, $1500 checks for their research they were supposedly doing. it was

i like to bet. i will get with friends on most anything baseball games an election, which way a ball will roll. organized sports betting is banned. on-line and casinos are banned. in some states even bets against friends are against the law. americans can be jailed for gambling. many consider it is sin. some people are hurt by gambling. some bet the house and lose it. bill o'reilly owe gives me a hard time because you can get addicted to it. >> you can lose the rent money. almost like narcotics. >> i doubt poker is as addictive as cocaine. even if it were as a libertarian once i am an adult it ought to be my choice. alex mcfarland says libertarians are wrong about that? >> gambling people attempt to try to defend it saying it's my money it is only me. but it touches other people. >> everything touches other people. >> sue sides increase. the suicide capital of america is las vegas, nevada. economically spiritually socially there's a number of reasons conservatives especially conservative christians

i'm not going to bet.i don't know if i'm even going to bet on him but i hope he wi wins. >> reporter: co-owner steve coburn has gazillione gambled his own money on the horse defying odds of 200/1. >> reporter: without much personal wealth they brought california chrome's mother and paired her with a pedigreed stallion for less than $11,000. as a triple crown champion california chrome could be worst $10 million--could be worth $10 million or more. as a betting proposition the horses are suffering from some serious competition. as americans find more legal ways to gazillion in scenes and online betting on the tracks has fallen by more than one-third in the past ten years. attendance is down just as much, and without enough revenue from wagering the racing industry is seeing more tracks shutting down. this race and the story behind california chrome is tempting more people to take a chance and lay a bet. >> it's pretty sad to see some days you come here and there are six, 700 people. next saturday it won't b

billion short bet right now. double what it was the previous week. but that may back fire. thursday, the most anticipated european central bank decision of the year. traders are expecting an array of policy moves like cutting interest rates, and infusion of liquidity to prop up lending and the economy. according to a strategist at nomura, those are already priced in. we have seen the euro weaken in the month of may. three-month low currently against the u.s. dollar. so if the draghi decision may actually have the reverse effect, if all of that is priced in, because according to a bunch of firms, sell the rumor, by the fact, may be at play here. there is a bullish euro etf, trades like a stock, fxe. you can buy that if you think the euro will rebound. or if you think draghi will surprise in a big way with edie monetary policy. you can get bette against the euro. for that to happen, for draghi to actually surprise and it to weaken as desired, he would have to pill out the big guns, bazooka, qe federal reserve trial

you're a strong man for doing that. >> well, jimmy, we new yorkers honor our bets.reat a singing voice. so i've got some friends here to help me out. these are the kids from the 52nd street project here in manhattan. [ cheers and applause ] they're going to help us do this. ready, guys? all right. >> jimmy: are you guys ready? here we go. ♪ look out the window get out the beach boys baby ♪ ♪ we're going to ride till we get it ride it no more ♪ ♪ from the ballet from the west side to the east side ♪ ♪ everybody's very happy cause the sun is shining all the time ♪ ♪ another perfect day i love l.a. ♪ ♪ we love it ♪ i love l.a. ♪ we love it >> jimmy: wow. nicely done. [ cheers and applause ] mayor de blasio, you look like a counselor at the worst camp ever. >> jimmy, this is a hostage situation. i did my best. >> jimmy: you have one more payoff to make, i believe. is that correct? >> and jimmy, the lucky winners are in your studio audience. we have sent the finest hot dogs from new york city from gray's papaya for everyone in your audience. [ cheers and applause ] >> ji

are bets themselves illegal or just if you bet in dollars that it's illegal? >> i'm not a gambler.'s regulating this? >> let me put it this way. what is the overlap ultimately between the college football crowd and the the bitcoin crowd? >> i would guess, probably pretty high. by the way, that was an old school hip-hop reference, the i'm flot a gambler, i don't bet, for those also -- in new york. >> over my head. sorry, on that one. >> roxane, roxane. >> good point, st. petersberg bowl. see how it is for this investme investment. >>> that does it for us here. over to scott wapner and the "fast and furious" report. >>> rates, risk and your money. with only hours left before the fed decision, how should you play the central bank's next move? >>> rumble in the jungle. will amazon unveil a new phone today? and join in an already crowded market. the traders speak out what it means for that stock. >>> worst trade of the day. a california mayor in deep do-do, over something he did to a neighbor. the story that raised a big "stink" and the fallout. that later. >>> meet today's starting lin

john: but why can't i bet?he moral code means i have a choice. >> no man is an island they have a ripple effect. there are misconceptions about the odds of winning and the perceived benefit. john: if i want to risk my money playing blackjack. >> i will acknowledge the 800-pound elephant we have to recall knowledge god. the founding fathers believed in god and the moral code. if you don't want to be a christian you don't have to do but don't destroy what gives you the freedom not to be a christian. to know what i mean? john: no. my relationship with god is personal i can only make a moral choice if i am free to gamble or not campbell. a few bay and its you make the choice for me. >> so you come to god contingent on the freedom to gamble. john: or choose god or not it is detrimental contrary to the message we want to send to our children and their descendants. john: some kids learn math through playing poker. >> america use age 12 through 1780 percent have dabbled in gambling. we're teaching our kids that money i

if they had bet with you, they would have lost that bet. is that correct? >> that's correct. >> and you currently are offering a bet on sea level rise. would you tell the committee about that? >> yes. i'm looking for someone who would be willing to bet $1,000 on the sea level increase for the year 2024 in charleston, south carolina. >> and -- >> the rate currently is around 3.15 millimeters. i don't know how they do that to the nearest hundredth of a millimeter, but you can do it mathematically. i don't know how you do it science tickly. scientifically. i will bet the rate ten years from now is not over 7 millimeters. the 7 millimeters -- if 7 millimeter rate starts now and goes to the year 2100, it would equal about a two-foot increase. many people are talking about a 14 millimeter being equivalent to a four-foot increase. so i'm essentially betting that for the next ten years it will be not increasing at a rate that will equal a two-foot increase by the year 2100. but i'm not going to be living that long, so i can't win that bet. >> would this bet apply t

picking the favorite is not always the best bet. the odds are the lowest. they over bet.rome is going to be way over bet. they process thousands of bats across the country. people do a lot of irrational things. we will see that tomorrow. a lot of casual fans put in money and they don't know what they are doing. >> can we bring up some of those mistakes that people often make? >> people think seven is a lucky number so they bet on post position seven regardless of how good it is. if you're smart, you want to avoid that mistake. that is not good enough. >> biggest longshot. >> everybody wants to get a lottery type of when. >> >> >> it happens now and then. over time, you are paying too much. heyou think about his horse, found the middle part of the curve. taking a horse like command and curve and adding on it to place or show? >> you should not bet on a horse like that to win. the odds are so extreme. to get a free option for it finish in the top two. >> california chrome is such an extreme favorite, the payoffs are just as good as the payoffs are winning. you can get the s

some hope that he'll renew enthusiasm for betting on horse racing.at's because there are so many other gambles options. >> california chrome shines bright. >> reporter: since the kentucky derby and follow through at the breakness stakes, he has won the hearts of horse race lovers. if he wins again, california chrome will be the crow crowned the triple crown champion. >> i don't know if i'm going to bet on him, but i am hoping he wins. >> reporter: steve coburn has canyoned his own money on the horseback when he defied odds of 200/1. now he's called as the heavy favorite. >> he loves people. and we've got all of america on our side, i do believe, other than the people who have these horses running against us. >> reporter: coburn and his business partner are rare breeds in the expensive thoroug thoroughbred sport known as the sport of kings. he bought california chrome's mother and paired her with qua pedigree stal stallion for $11,000. >> reporter: as a betting proposition the horses are suffering from serious competition. as americans find more legal

the research suggested people don't bet enough to show, they bet to win. three is good enough. the odds of winning are higher. that is one tidbit i have you -- learned over the years. there are people who get carried away. >> this is what i want to get to. in the preakness, california chrome paid the same amount for winning as well as placing. statistically, where is it? >> that is the option. this is a rare opportunity. california chrome is a big brand. everybody bets on him to wind. people forget about the horse that comes in second. the betting pool is so focused on him winning and so against him and finishing second that the odds skew toward each other. >> it might be best to lay some of the top two. >> you get the first or the second. you get that second option for free. seven.mentioned post a he will be racing from post two. >> for people like us who are not hard-core racing bettors, we stay out of things like that. those get you caught. look at the free trades. >> we understand in vegas that the house wins. who wins here? is it the track? >> the tra

one trader that was looking out in october, they took off a bullish bet.08. that's $2.7 million in premium and they rolled it up to the october 33 calls buying 75,000. that's about $2 million. so really when you think about it, the break even now is 12% higher. i mean, you're getting back to like all-time highs in the last 15 years here before the tech bubble. so to me this is not a stock that i think you want to chase up here. look at this move that we've had over the last year or so. when the company finally after missing quarter after quarter says that enterprise pc demand is a little better and they guide up 5% in the out quarter, i don't think that's like euphoric by any means. this is a level to me i think you would want to fade because the expectations now are massively high. when they report july 15th, they really need a big beat and raise for this stock to keep moving. >> we see a lot of charts like this where the stock hasn't gone anywhere for ten years and then there's a massive breakout. because they haven't gone anywhere for ten years, the bre

hedge funds are raising bullish bets on oil to a record.eran said that the findings are almost certainly going to escalate. john says that iraq continues to drive trading and the looming battle in baghdad, he says, is a focus that could jump to 110. there is debate over how bad things could get, from citigroup to bank of america, they are saying that the impact on oil to be pretty big if there is more violence. >> pretty big, but traders are calling this a fluid situation? >> absolutely. to pardon the pun, major companies started moving workers out of projects in iraq last. while the fighting has mostly involved cities north of baghdad , the bulk of assets are in the south and east. markets have not panicked because those rich regions have not been hit yet. >> su keenan, thank you very much. opec recently wrapping up trading. we will have details on that story in a moment. with massive debt and high unemployment plaguing puerto rico, the government is creating tax incentives to attract outside capital. when "bottom line" returns, we and 22

tonight, how much money you can make betting on california chrome. >> mystery solved.is the guy who has been leaving cash all over the bay area and tonight, he has something ,,,, it's never been easier to find a dentist. watch. dentist. [ popping ] now you have to figure out which one takes your insurance... [ sighs ] okay. now, a dentist you trust and feel comfortable going to. hrmm. i know. at 1-800-dentist, we've helped over 8 million people find that right dentist, and we can do the same for you. [ chuckles ] so don't put it off. call 1-800-dentist today. ♪ so don't put it off. call 1-800-dentist today. ithe part of us that a littwants to play,on. wants to be mischievous, wants to run free, all you have to do is let it out. find your inner minion only at the despicable me minion mayhem ride at universal studios hollywood. suddenly going on the attac >> tonight, there's a new plan to stop this. a group of teenage everies suddenly going on the attack and robbing people. it is called wiling. cate caugurian tells us what bay area residents are doing about it. >> report

experts declined to bet with you, is that correct? >> that is correct. >> they would have lost that bet, is that credit? >> that is correct. >> you are currently offering a bet on sea level rise. will you tell the committee about that? >> i am looking for someone who would be willing to bet $1000 on the sea level increase for the year 2024 in charleston, south carolina. about 3.15rrently is millimeters. i don't know how they do that to the hundreds of a millimeter. you can do it mathematically. bet that the rate 10 years from now is not over seven millimeters. -- if allimeters would seven millimeter rate starts now and goes to 2100, it would equal increase.o foot many people are talking about a 14 millimeter -- being equivalent to a war foot increase. i am essentially betting that for the next 10 years, it will not be increasing at a rate that would equal a two foot increase by 2100. but i will not be living that long. i can't win that bet. >> the disc that apply to your would that that apply to your heirs? would. it >> thank you very

those were bullish bets. or about 50.85 by september.bought these things for 85 cents and if the stock went up 6 bucks in 50 days, you're likely to double your money. you don't have to wait all the way to expiration. kind of what dan was suggesting, between the world cup that people might be making shorter term bullish bets as well. >> check out the website, optionsaction.cnbc.com. time for pops and drops. pop for lands end up 8%. >> they spun themselves out of sears. gross margins are going higher. management talked about the idea that now they're independent and feel much more comfortable. think the stock is going higher. >> drop for sfx down 2%. >> i would rather on live nation. >> green mountain up 4%. >> options volume exploded this thing up. like i said, it was up 4%. options volumes are five times the average daily volume. rumors that coke is going to take the whole thing out. >> you were in the trade? you're holding it? >> yes. >> what do you do now? >> i think you have got to make some decisions. i always think trimming or takin

new jersey says illegal spots betting is a $500 billion industry. >> 5:53 now.next wait and see how an be ducted baby was found alive. >> coming up all new in our next half hour a local man takes matters into his own hands to crack down on speeders butter he ended up in trouble. we'll give you some story all new at 6:25. >> get the early morning headlines as soon as you wake up right on your smartphone. download the free 6abc news app right now at the apple and google app stores. we'll be right back. [ joel ] i'm billy joel, and new york is my home. there's no place like it in the world. my favorite place is long island. it's an endless beach, from long beach, to montauk, to long island sound. with incredible fishing, teddy roosevelt's home, and the first port in the u.s. come discover your favorite part of new york. ♪ i'm in a new york state of mind ♪ plan your summer vacation at iloveny.com. there's something for everyone. box!!!is homeloveny.com. come to hhgregg's 4th of july sale and save up to 30% storewide plus, up to an extra $500 more when you buy multip