Yeah unlike sports where at least the games are ostensibly fair, heavily scrutinized, and managed by organizations that try to stop this. Even then it still happens sometimes.
This system is just completely unenforceable insanity.
Comment on Insider trading, but make it worse
ZoteTheMighty@lemmy.zip 5 days ago
I’m willing go bet a lot of people making weird bets like this are doing the equivalent of insider trading. The whole concept of betting on random news is ripe for the opportunity for people with insider knowledge to always win big off of the losses of gambling addicts.
bdonvr@thelemmy.club 5 days ago
cheesybuddha@lemmy.world 4 days ago
Of course it is and the creators know that. But it’s profitable
plyth@feddit.org 5 days ago
That’s the point of those platforms, to bribe the people with that knowledge to reveal it.
ronl2k@lemmy.world 4 days ago
What would happen to those platforms if governments and rich people deliberately made a bunch of $35k bets that were designed to never win, making all the copycat gamblers lose?
JcbAzPx@lemmy.world 4 days ago
They would still make money since they take a cut off every bet. Just not as much as selling their insider data.
Artisian@lemmy.world 4 days ago
Which, fwiw, night be a feature not a downside? Transparency if the fact is juicy enough.