4 ms·
if you suspect you aren't the most sophisticated gambler, then maybe it doesn't pay? Honestly, sports betting is orders of magnitude less sophisticated than Wal
by abakker 7y ago
if you suspect you aren't the most sophisticated gambler, then maybe it doesn't pay? Honestly, sports betting is orders of magnitude less sophisticated than Wall Street, so you have a better chance of finding an edge that others haven't also found.
- kratom_sandwich 7y agoAlso, it's easy to imagine that there are a lot of "unskilled" betters, i.e. old folks betting for the thrill of it, people betting a few bucks just for kicks, ... With wall street, there might be a few unskilled people, but they are probably a small minority.
- user5994461 7y agoThey're both the exact same thing when it comes to exchanges. I was working for a betting exchange and a market maker for a while, taking 500 orders a second and arbitraging between different competitors, before moving back to finance. It's quite interesting actually. A lot of the market is not tradable though. On one end of the market, gambling is often a state monopoly with high spread and high margins (if not prohibited entirely), while on the other end there are large trades going on in private or closed circles.