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Imma need some betting help here, expert friends.
(OK, OK, I realize the irony here that I read and reviewed Nate Silver's book (#735212) last year... but didn't get the betting element of things. Cool story, you made money arbitraging between platforms and having superior info and betting strategically to NOT reveal information—great, whatever.)
It's Predyx (@mega_dreamer) that has finally gotten me in the mindset of actually learning, and in recent days and weeks I've pestered Mr. Master @Undisciplined himself... over and over.
So, I had a contract for Barcelona winning La Liga... it was reasonably priced at .87, given that they were in the lead by four points with four games (=12 points) remaining... and were facing the only other team that could catch them. Because there were two contracts on the same outcome I traded around (arbitraged) my exposure (#974553) and felt like a genius.
After today's game, which Barca won 4-3, it's basically a done deal (it'd be a humongous upset if Barca lost all three remaining games while Real Madrid won all their games...), meaning that at 0.95 it's a 5%+ safe return in less than two weeks. But Master Undisc is selling his contracts, taking profits at .97. Fair enough, he rode that horse well and can move on to greener pastures... but like, why?! (I see he's still a top-4 owner, so whatevs.)
Isn't this free money...ish? I also realize that buying like a madman here would be a classic pennies-before-steamroller trade... 5% upside, 95% downside in the off-chance Real pulls off a miracle. (But those things do happen in sports so why not...)

P.S., somebody needs to start a "Betting" territory, eh (but I guess the Sports one is basically that...)... @Coinsreporter's degen series (#945628) DEFINITELY qualifies.
Then again, it would defeat the purpose, since we're all betting either against e/o or the house itself, eh. WHY TELL EM WHAT WE'RE UP TO?!
Wow @denlillaapan is finally getting serious in the realm of Predictions Markets. Welcome to the club!
In the words of Tarek Mansour founder of Kalshi: Predictions markets are the future of financial markets. If you read between the lines, "the future of financial markets." that means its an emerging tech/mechanism that is out there to disrupt the traditional financial markets.
There will be a lot learning and exploration in the realm of anything that's "just emerging". Think of internet between 1996-2000, it was an emerging tech then, and look at what it has become now. Top ivy leagues are now offering formal courses in Prediction Markets. People are taking up thesis and research on Prediction Markets for their grad and under-grad degrees. A lot of R&D is being done.
So if you feel a little uncertain that you don't understand PMs very well as compared to masters like Dr. @Undisciplined, you're not alone - even I feel that way too.
But at the same time, you're way ahead of the crowd. You're embracing PMs in its infancy stage - just imagine where you'll be in an year or so. Top of curve.
Some wise man once told me, "He who has started has half finished!"
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On that note, I thought of a cool new market type that I think you'll be excited about. I'll share it with you later.
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Sure - looking forward.
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HOW exciting!
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That's the beauty of prediction markets where you can sell easily without needing to confirm outcomes.
Now that @Undisciplined has sold, I guess it's time we buy again. Barca us a definite champion from heron requiring just one more win or two draws. It's next 2 games out of 3 are up against much weaker teams and I don't think Barca will succumb to all three.
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me neither... but I don't think I have the balls for plunging too much sats into it given the extreme asymmetry (5% upside, 95% downside)
edit LOL, yea someone's got balls of fucking thuuuunder
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Maybe he wants some liquidity to deploy to another market.
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What a schmuckface
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Schmuckiest of schmuckfaces.
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Ah, I can explain this pretty easily. I was unaware of Barca's specific situation in the standings and was just trading off of the publicly available odds, which may not have caught up to reality yet.
You'll also see that I was selling my Real Madrid shares. Selling some of the Barcelona Yes got me a better price on those.
I don't think I did it right, though, which is probably why it looks confusing.
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HAHAHAHHAA LOL!
Yeah, this is one explanation: ignorance.
Nothing to see here, peeps
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Feels like easy money, but 95% odds still mean risk. One upset and boom free money turns to regret fast.
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🎯
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Barca at 0.95 feels like free money, but it’s the classic steamroller trade tiny upside, total downside if disaster strikes. I get why @Undisc is cashing out at 0.97 locking in gains, avoiding tail risk. Probably still +EV, but I’m realizing that smart betting is more about survival than squeezing every last percent.
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Barca at 0.95 feels like free money, but it’s the classic steamroller trade tiny upside, total downside if disaster strikes. I get why @Undisc is cashing out at 0.97 locking in gains, avoiding tail risk. Probably still +EV, but I’m realizing that smart betting is more about survival than squeezing every last percent.
This is basically Nate Silver's entire book summarized in two sentences
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