basil
@itsbasil
i hung out with old friends yesterday who gambled on basketball all day long halfway through the day i was so bored i decided to signup for a free predatory $100 my whole life they’ve done this, i’ve never participated—a first try for everything, eh? honest question, how, on gods green earth, do people do this? bet $50 to win $50 is considered INSANELY good odds in this stupidity to make any decent returns you have to string unreasonable binary add-on bets together… this is quite literally the dumbest shit i’ve ever done, given there are 10 people on the floor at all times… almost everything is unaccounted for… don’t even get me started on football where uncertainty goes exponential risk $50 to win $60, $70?! against these parameters? with human referee interference?! with emotion weighted 10-fold? with timeouts & clock stops? this is super high risk & you can’t even make any good money doing it… seriously, why do people do this?! it’s absurd play table games or memes
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Wager
@marketwager
The way to do it is instead of placing bets online, create a localized prize pool. This upkeeps the competitive nature of betting and watching the sport, while also keeping the gains and losses “in-house”. Additionally, if the winner has a heart, he/she will host the food with the proceeds, it’s a Win/Win without the House.
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basil
@itsbasil
like superbowl boxes, yes, that are completely randomized this makes more sense to me tbh
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James McComish
@jamco.eth
yea deploying smaller pools among friends seems like the way to go for many bettors - something we want to build into the Onit protocol at some point 👌
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