Comment on Insider trading, but make it worse
lemmydividebyzero@reddthat.com 1 week ago
How does that platform work? Can you still place bets when rockets hit Venezuela? Can you still place bets when people speculate he was already abducted?
Comment on Insider trading, but make it worse
lemmydividebyzero@reddthat.com 1 week ago
How does that platform work? Can you still place bets when rockets hit Venezuela? Can you still place bets when people speculate he was already abducted?
Lee@retrolemmy.com 1 week ago
You can still bet on near certain events / events in progress, but there’s not necessarily a benefit in doing so as the odds shift. If something is believed to have a 50% chance of occurring then theoretically the bet would cost 0.5 for a payout of 1 (of you win). As the outcome becomes more (or less) likely, the cost of the bet changes to reflect that. In a prediction market, it’s similar to stock market in that in order for you to buy a share / place a prediction bet, someone has to be selling a share/taking the other side of the bet and the prices shift based on perceived value of the underlying thing being traded (stocks or predictions).