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Just a second though, betting markets are intrinsically subject to manipulation! Both in the markets themselves and in the world that the gamblers are purported
by macawfish 6y ago
Just a second though, betting markets are intrinsically subject to manipulation! Both in the markets themselves and in the world that the gamblers are purportedly "observing". The betters have active agency in the world they are betting on. The only thing stopping people who participate in these "markets" from manipulating outcomes in unethical, coercive ways is: nothing at all. The betting markets only serve to raise the stakes and create a medium for perverse incentives to play out. So yeah, in some cases or might be more "accurate", but what about the risks? At what cost?
- cortesoft 6y agoYeah, there have been a few interesting cases of soccer players betting on their own transfer results (I.e betting that they will be sold to a specific club), which of course they would have inside information on Interestingly, it seems players are often wrong https://www.theguardian.com/football/2020/mar/02/daniel-sturridge-trabzonspor-contract-terminated-after-six-months https://www.theguardian.com/football/2020/mar/02/daniel-stur... https://www.thesun.co.uk/sport/3506009/england-star-bet-own-transfer-smartphone-casino-games/ https://www.thesun.co.uk/sport/3506009/england-star-bet-own-...
- macawfish 6y agoCheck out this conversation between Mike Tyson and Michael Franzese about how athletes repay gambling related debts owed to mafia bookmakers: https://youtu.be/lNlR3lfnLR8?t=2990 https://youtu.be/lNlR3lfnLR8?t=2990 "I gotta tell you about athletes: they're not good gamblers, they're really not"