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How to play Reef Raider
That is because trading on prediction markets is illegal down under, according to the Australian Securities and Investment Commission, the nation’s regulator on financial services. Last month, in perhaps the ASIC’s strongest warnings yet against the asset class, the commission reiterated that prediction markets are not licensed as financial markets to operate in Australia. Through the guidance, the regulator urged consumers to exercise caution before partaking in certain investments on offshore platforms which have not obtained licensing nationwide.
The advisory could be music to the ears of NFL Commissioner Roger Goodell, whose league has pushed a federal derivatives regulator in the US to enact more rigorous standards to help protect the integrity of professional sports. Ahead of the matchup, Goodell spoke with CNBC from Melbourne.
“We think there needs to be stronger regulations into the predictive markets,” he said. “We want to see that to protect the integrity of our game – we want to make sure we are protecting the consumers that are on those platforms.”
What is Reef Raider?
“For a hundred years this game lived on the corner,” he said in TCS/JOHNHUXLEY’s press release. “Now it’s got a dealer, a pay table and a seat at the table in a real casino. Same dice, new floor.”
Cee-lo—derived from sì wǔ liù (Chinese for “four-five-six”)—is played with three six-sided dice. Popular among Chinese-American players as early as 1893, it was adopted by hip-hop culture in the late 1970s and became a fixture on the street corners of Harlem, Brooklyn, and the Bronx.
Nas, the Notorious B.I.G., and Jadakiss all referenced the game in their music. Kool G Rap called his 1995 album 4,5,6, and its title track included the line “Headcrack, time to get the bread”—the lyric that most likely inspired 50 Cent’s casino adaptation.
But it was Thomas DeCarlo Callaway who gave the game its biggest mainstream exposure, and gesture of love, when he took his stage name, CeeLo Green, directly from it.
How to play Reef Raider
“MGM offers a more diversified investment case, with BetMGM, regional gaming and Las Vegas operations reducing reliance on online sports betting alone,” says Beynon. Robinson makes the same point. “It is a Las Vegas and Macau property business with a betting JV attached, and that is precisely why it has held up.”
Entain sits somewhere between the two models. It has significant international scale and a valuable stake in BetMGM, but also more debt and greater exposure to UK taxation, as well as general regulatory turbulance across Europe.
The four analysts arrive at much the same broad conclusion, albeit by different routes.
