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CNBC Takes Big Gamble With Steve Stevens

CNBC With Steve Stevens

Would you trust your money with someone who claims to have a sports betting win rate of 71.5%? That number is extremely high by betting standards, and many believe that it is just outright fabricated in the case of Steve Stevens. He is the star of a new reality show on CNBC called “Money Talks”. The point of the show is to take viewers into the world of sports betting, but some are wondering if CNBC has taken too big of a bet themselves by putting this man on their network.

Steve Stevens is known to have scammed elderly investors out of about $250,000 in the late 1990’s. He was convicted of illegal activity related to that scam in 1999. However, CNBC says that they are aware of that conviction and are still going forward. Lately, they have been trying to distance themselves from the man as they have received a lot of bad publicity for putting him on.

Many of the sharpest bettors in the sports gambling world are saying that they have never heard of the man or his service. They are also saying that a win rate of 71.5% is simply impossible. Even the best bettors in the world rarely have a year where they crack the 60% win rate.

CNBC for their part has said that they in no way endorse the man’s picks or his service, but they feel that their viewers will enjoy the look into the world of sports betting and are encouraging everyone who is a naysayer to tune in to the broadcast on September 10th to judge for themselves.

Some services that have tracked the picks made by Stevens service seem to come up with a much different win rate than the reported 71.5% that Stevens says he is getting. Therefore, there is a lot left on the table to be determined about how well this show will work out and in fact how legitimate Mr. Stevens really is.

The show itself may actually be a slam dunk for CNBC at this point. Even with all of the bad press that is has been receiving, this may only help to increase viewership numbers to the point where the show becomes worth the trouble for the network. It is not likely that this was the original plan going in to the creation of the show, but sometimes networks just have to go with what they end up getting handed.

Categories: Racing Basics