9 ms·
Problem with this: an individual betting shop pays out, the sales lift is shared among the entire industry. Concentrated downside, distributed upside. I doubt
by bluelightning2k 3y ago
Problem with this: an individual betting shop pays out, the sales lift is shared among the entire industry.
Concentrated downside, distributed upside. I doubt the individual bookie is happy.
- Majromax 3y agoProper betting shops are market makers, ideally balancing their books such that they profit by the house spread regardless of outcomes. A bookie that takes on a substantial net position is accidentally gambling with their own money.
- gtirloni 3y agoI'm not familiar with betting in general but is there even a bookie this days? Or is that a company (one of the thousands flooding social media with ads lately)? It seems, like in other industries, being large helps to weather out such rare events.
- htrp 3y agoMost "individual betting shops" are a sales agent where the actual "book" is run through bet365/paddypower (at least the ones aboveboard in the UK).