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Well.... not really. Parimutuel betting, not sure - but there is always a house fee - that's how the house makes money. A traditional bookie would have at lea
by dedward 13y ago
Well.... not really.
Parimutuel betting, not sure - but there is always a house fee - that's how the house makes money.
A traditional bookie would have at least 5 to 10 % built into his odds as well (like if you were betting on even odds, liek a coin toss, it would be bet $110 to win $100 for either side (so the bookie has a 5% hold if he can keep the betting balanced, no matter who wins)
etc etc.
- bradysullivan 13y agoIn this case, there is 0% fee if you bet when the round opens.
- Systemic33 13y agoI think the bootstrapping is worth more than getting an initial basefee, since it'll likely bring more players, making it worth it towards the end.