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Yea that’s why I don’t understand the big fuss surrounding sports gambling/online poker etc. There’s currently something called the options market, much larger
by jliptzin 5y ago
Yea that’s why I don’t understand the big fuss surrounding sports gambling/online poker etc. There’s currently something called the options market, much larger than both those things combined, where people are betting one way or the other on minute differences in a company’s quarterly earnings reports. You want to ban online gambling? Ok fine, I can easily go bet my entire life savings on whether Facebook earnings will be 30 billion or 31 billion next quarter.
- dylan604 5y agoBut it's not even a difference of billions like 31 to 30. It's these numbers were like the 3rd digit after the decimal different. Sure, in these numbers that's still millions but only single digit millions. It's literally a rounding error depending on least significant digits. In some places, they only had 2 digits. To get to the offsets, they had to increase the accuracy. Literal rounding errors.