• inari@piefed.zipEnglish
    5 days

    People losing money from betting? Who woulda thunk?

      • dou9m@lemmy.caEnglish
        5 days

        They could have no bots at all and it would still be an obvious scam lmao.

      • IronBird@lemmy.worldEnglish
        5 days

        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.

    • dan1101@lemmy.worldEnglish
      5 days

      Yep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.

    • silence7@slrpnk.netEnglish
      5 days

      Not an unexpected outcome, but it’s notably worse than with classic casino gambling because of the always-available model those firms have.

  • 😈MedicPig🐷BabySaver😈@lemmy.worldEnglish
    5 days

    I liked: Last Week with John Oliver episode on these scam sites.

    Just another straight up Scam by scumbags that lie and make up stories IN PLAIN SIGHT!

  • CapuccinoCoretto@lemmy.worldEnglish
    4 days

    I still can’t believe prediction markets exist. Every bet requires a counterparty and information asymetry means its not a market, its a killing field going up against rigged bets just like this.

    Billie, you’re a genius

    Enough to be a fool

    A fool to gamble everything

    And never know the rules

    Some of us can only live

    In songs of love and trouble

    Some of us can only live in bubbles

    • The Magnetic Fields - My only friend