Soooo where does the money come from? I haven’t looked into it but I imagine they just have odds on events like this. How does this not bleed polymarket dry? If people are betting big and winning on low chance outcomes, polymarket has to account for that money somewhere. If it happens more often than the odds would allow, they should be losing money.
swicano@programming.dev
on 02 Mar 05:48
nextcollapse
The money comes from all the other users that bet the other outcome when the odds were a specific thing. Polymarket pretty much can’t lose money on a bet having a specific outcome. If people werent betting the other side, the odds would be different
SaltySalamander@fedia.io
on 02 Mar 11:46
nextcollapse
Same place the money comes from for any bet on any betting site.
I’m not a gambling expert, but it seems to be more like horse betting where whichever outcome has more people betting on it pays out less. The money is still coming from other betters, though.
Roulette I think is just the house vs. the player with odds favoring the house.
threaded - newest
Soooo where does the money come from? I haven’t looked into it but I imagine they just have odds on events like this. How does this not bleed polymarket dry? If people are betting big and winning on low chance outcomes, polymarket has to account for that money somewhere. If it happens more often than the odds would allow, they should be losing money.
The money comes from all the other users that bet the other outcome when the odds were a specific thing. Polymarket pretty much can’t lose money on a bet having a specific outcome. If people werent betting the other side, the odds would be different
Same place the money comes from for any bet on any betting site.
The money comes from people losing their bets.
It’s the same as the stock market; a system of winners and losers.
You only see the winners because the losers keep it to themselves.
So it’s not like say horse betting? Or something with odds like roulette?
I’m not a gambling expert, but it seems to be more like horse betting where whichever outcome has more people betting on it pays out less. The money is still coming from other betters, though.
Roulette I think is just the house vs. the player with odds favoring the house.