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It becomes a vicious circle because the only way to be more certain about the odds is to place your bets as late as possible. Which means that fewer and fewer b
by joosters 9y ago
It becomes a vicious circle because the only way to be more certain about the odds is to place your bets as late as possible. Which means that fewer and fewer bets are struck earlier on, making the 'current' odds even more inaccurate. Which motivates people to wait even longer before betting...
- philipodonnell 9y agoEventually it became almost an HFT-type thing like in the financial markets, the biggest advantage comes to the person able to put a bet in at the last possible nanosecond because they will have the most accurate prices. Which would be fine (or at least comparable), except the pool software is way slower at updating when new bets come in and the tracks take a 10-17% commission on every bet, which is a drag that is just really difficult to overcome.