silence7@slrpnk.net to Technology@lemmy.worldEnglish · 4 hours agoMost Prediction Market Traders Are Losing Money While Bots Rack Up Gains | Data from millions of accounts shows that trading and profits are dominated by a tiny slice of highly active accounts.www.bloomberg.comexternal-linkmessage-square8fedilinkarrow-up167arrow-down12
arrow-up165arrow-down1external-linkMost Prediction Market Traders Are Losing Money While Bots Rack Up Gains | Data from millions of accounts shows that trading and profits are dominated by a tiny slice of highly active accounts.www.bloomberg.comsilence7@slrpnk.net to Technology@lemmy.worldEnglish · 4 hours agomessage-square8fedilink
minus-squareinari@piefed.ziplinkfedilinkEnglisharrow-up23arrow-down1·edit-24 hours agoPeople losing money from betting? Who woulda thunk?
minus-squareLost_My_Mind@lemmy.worldlinkfedilinkEnglisharrow-up8·3 hours agoI think the fact that bots are winning makes this whole thing a scam.
minus-squareAkasazh@lemmy.worldlinkfedilinkEnglisharrow-up3·2 hours agoGambling is literally a scam. A very addictive one too
minus-squaredou9m@lemmy.calinkfedilinkEnglisharrow-up11·3 hours agoThey could have no bots at all and it would still be an obvious scam lmao.
minus-squareIronBird@lemmy.worldlinkfedilinkEnglisharrow-up2·2 hours agothe real $ in prediction markets (unless you have inside info) is in knowing how to arbitrage a spread, making a bot to do so is pretty straitforward. that’s how the majority of the stock market works as well, the biggest casino in town.
minus-squareTollana1234567@lemmy.todaylinkfedilinkEnglisharrow-up1·edit-22 hours agogamblers losing money like degenerates, saying it aint so?
minus-squaresilence7@slrpnk.netOPlinkfedilinkEnglisharrow-up1·3 hours agoNot an unexpected outcome, but it’s notably worse than with classic casino gambling because of the always-available model those firms have.
People losing money from betting? Who woulda thunk?
I think the fact that bots are winning makes this whole thing a scam.
Gambling is literally a scam. A very addictive one too
They could have no bots at all and it would still be an obvious scam lmao.
the real $ in prediction markets (unless you have inside info) is in knowing how to arbitrage a spread, making a bot to do so is pretty straitforward.
that’s how the majority of the stock market works as well, the biggest casino in town.
gamblers losing money like degenerates, saying it aint so?
Not an unexpected outcome, but it’s notably worse than with classic casino gambling because of the always-available model those firms have.