What’s the Difference Between Bookies and Finance?

I’ve always wondered why it was ok for a person to make a “bet” in the form of a put or a call in financial markets, but not ok for someone to bet on a similar event from a private service. Freaknomics blogged about this same issue the other day.

It will be interesting to see if there is any backlash against financial “gambling” if the economy continues to struggle.