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Marantelli identifies White Swan and Susquehanna as two firms operating at industrial scale in parlays, with Jump Trading, Mojo and DL Trading among the possible leading group. Below them are numerous smaller syndicates, some managing between $5 million and $10 million, alongside sports-specific specialists.

Enda Kendrick, chief executive of service provider Veltium, similarly says the largest UK and European sharp-betting groups have moved rapidly into US prediction markets. He believes there are also more than 100 smaller operations, ranging from individual traders to teams of around 10, interested in entering the regulated US market.

Yet the presence of professional counterparties complicates the customer-facing idea that prediction markets merely allow users to trade opinions with one another. As Kendrick puts it, two ordinary customers are not going to place $10 million or $20 million behind the Philadelphia Eagles. Markets at that scale require institutions.

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Then my life went into a sort of holding pattern for the next few years. I was getting tired of freelancing. It was too limiting, and I wanted to start my own thing. So in February of 2020, I started to set up the groundwork for going out on my own. It is now up and running at The End Game Investor (EGI). The theme is precious metals investing and trading in the context of the End Game, the end of the financial system as we have known it since 1971, taken from an Austrian Economics perspective.

Then, one month later, the end of the world as we know it actually happened. The Coronombie Apocalypse, everyone masked up and the Fed printed a skrillion dollars and I lost most of my other freelance arrangements as everyone went into hiding and confusion and pandemonium.

But the groundwork for my own thing had already been laid, as did the actual global backdrop for speeding up what I was already predicting was going to happen anyway. So I focused up and got it started. I still wrote for CalvinAyre.com though, which actually hung on, to my pleasant surprise.

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However, LSR noted that traditional game outcomes are no longer reliable indicators of bookmaker profitability, largely due to the rapid growth of same-game parlays and player props.

In the Las Vegas-based Circa Survivor contest, which drew over 25,000 entries entering Week 1, more than 8,000 entries were eliminated in the opening slate—most knocked out when the 8.5-point favorite Chargers fell to the Cardinals. That upset served as a proxy for the wider market, ruining countess parlay tickets across major sportsbooks.

Looking ahead to Week 2, bettors continue to chase high-scoring games. At BetMGM, Overs represent three of the five most-bet game totals by ticket count: Vikings-Bears (Over 48), Saints-Ravens (Over 46), and Panthers-Falcons (Over 44).