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Nope. "We're just an intermediary between people" is a 100+ year old yarn that casinos and bookies have been trying to spin. If you're presenting a point of ent
by jubilanti 5mo ago
Nope. "We're just an intermediary between people" is a 100+ year old yarn that casinos and bookies have been trying to spin. If you're presenting a point of entry to a betting line and taking a cut, congrats, you're the house. Doesn't matter if you adjust the betting line manually based on intuition or algorithmically based on betting volume. Sometimes it doesn't get enforced because of corruption, but if this was the case, then why aren't there tons of independent unregulated poker casinos where players just play against each other? If you facilitate and take a cut, you're the house.
- somenameforme 5mo agoPolymarket doesn't take a cut. Their profit comes in transaction fees.
- FireBeyond 5mo ago"We don't take a cut of your bet, we just charge you a transaction fee on your bet" is reaching a bit.
- deleted 5mo ago[deleted]
- somenameforme 5mo agoMy phrasing was poor, but they do so generally in a very good faith fashion. It's not just a wink wink rake type thing. For instance there are no fees at all on the most popular and high-volume markets - geopolitics and world events. And not only are there are no fees even on smaller markets for market 'makers' - people who put up an offer, but they provide a percentage of all fees collected from market 'takers' back to the makers, as a means of encouraging liquidity.
- munk-a 5mo agoThe mob boss doesn't charge me interest on my loan - he just really likes receiving expensive gifts from me.