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They don't use real money. It's no different than having a poker night with Monopoly money and the winner gets a prize.
by Rebelgecko 2y ago
They don't use real money. It's no different than having a poker night with Monopoly money and the winner gets a prize.
- fnfjfk 2y agoWell, that explains it. I didn’t see that mentioned anywhere in the article, but maybe I missed it not being real money. I don’t think there’s any legal risk then.
- Sniffnoy 2y agoYeah, I don't think that was mentioned anywhere -- I assumed it was real-money. That should really be clarified!
- ddp26 2y agoNot quite. From the article: > As Prophit had done, I got approval to pay out valuable prizes to complement the play-money leaderboards. Some traders won things like iPads, and similar rewards that even highly paid tech employees considered valuable.
- beejiu 2y agoI think the point is no money is at risk. I.e. you can't lose money, you can only gain rewards/gifts/cash/etc. That's not strictly gambling.
- ddp26 2y agoYeah, that's right. Though one could fantasize about a corporate prediction market where people are betting part of their yearly bonuses...