2 ms·
Why don't sportsbooks just follow the polymarket model with buying and selling yes/no shares? It's impossible to lose money that way, and it doesn't matter how
by Buttons840 1y ago
Why don't sportsbooks just follow the polymarket model with buying and selling yes/no shares? It's impossible to lose money that way, and it doesn't matter how well any individual better is doing.
- lemonlearnings 1y agoThere is a lot more money to be made if you can attract a cohort of suckers. It is basically an entirely different business model. Drug dealer rather than an eBay. And running a betfair cannibalises the sucker arm.
- LatteLazy 1y agohttps://www.betfair.com/ https://www.betfair.com/ Does exactly this. Odds are just set by supply and demand and you pay a small fee per bet.
- devilbunny 1y agoFunctionally more like parimutuel bets, then? I don’t gamble (on sports or anything else), so I haven’t paid these much attention (though the nonstop betting ads have made watching pro sports much less pleasant).
- Buttons840 1y agoIt's a bit of a conspiracy, but ultimately there is more money in sports betting than in the sport itself, and thus eventually the money will win and sports will just be a mechanism for gambling. The leagues will ultimately be controlled by those who run the gambling and have more money and power than the league itself.
- devilbunny 1y agoOne of the underappreciated concepts behind vice laws is that they function to prevent large-scale coopting of entire industries this way. In theory, at least.