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How do they avoid attracting people who would see it as gambling for fun? A lot of people are attracted to gambling - possibly everyone, to some degree, and fo
by esperent 4y ago
How do they avoid attracting people who would see it as gambling for fun?
A lot of people are attracted to gambling - possibly everyone, to some degree, and for a wide enough description of "gambling" - even when there's no money involved. Put even a small monetary reward in and you'll get loads of people taking part just for fun, in most cases.
So how do prediction markets avoid this?
- Tenoke 4y agoWhy would they want to avoid them? They just add liquidity to the market, incentivising better forecasters and improving the overall accuracy and robustness. More useful for them to gamble on that than something else.
- fulafel 4y agoHaving a lot of them distributed unevenly might incentivise competent participants to focus on these easy pickings.
- rocqua 4y agoIn some sense they are 'suckers' that give an incentive for the good predictors to play. It's much nicer to participate if most of the other bets are poorly made. Whether this is worsgamblers than othe