Bloomberg Businessweek

A Wall Street Legend Flops in Sports Betting

• Howard Lutnick is shopping around CG Technology

• “If I’m going to bet $50 to $100 … I’m at least going to want a beer”

March Madness, the biggest championship tournament in U.S. college basketball, hits Las Vegas each year like a tomahawk jam. Hundreds of millions of dollars course through the city’s sports betting parlors, far exceeding the wagers placed on the one-day Super Bowl event.

Howard Lutnick has spent much of the past decade trying to get a piece of that action by building a sports gambling operation, CG Technology LP. But Vegas is a tough

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek5 min readScience
Using the Body’s Trash Disposals to Fight Cancer
• Drugmakers are betting big on technologies that tag and destroy the proteins behind fatal diseases
Bloomberg Businessweek10 min read
Move Fast And Vape Things
In 2004, Stanford grad students Adam Bowen and James Monsees set out to reinvent the tobacco industry. In 2015 their company, Juul Labs Inc., began selling e-cigarettes and flavored nicotine pods that were twice as potent as many competing vape rigs.
Bloomberg Businessweek4 min readPolitics
Advantage, Putin
The day after he decided to shift U.S. troops out of the path of the Turkish military incursion in Syria, President Donald Trump took to his usual platform to defend his actions. “The two most unhappy countries at this move are Russia & China,” he sa