silence7@slrpnk.net to Technology@lemmy.worldEnglish · 3 days 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-square8linkfedilinkarrow-up12arrow-down10
arrow-up12arrow-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 · 3 days agomessage-square8linkfedilink
minus-squareinari@piefed.ziplinkfedilinkEnglisharrow-up1·3 days agoPeople losing money from betting? Who woulda thunk?
minus-squaredan1101@lemmy.worldlinkfedilinkEnglisharrow-up1·3 days agoYep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.
minus-squareLost_My_Mind@lemmy.worldlinkfedilinkEnglisharrow-up1·3 days agoI think the fact that bots are winning makes this whole thing a scam.
minus-squareAkasazh@lemmy.worldlinkfedilinkEnglisharrow-up1·3 days agoGambling is literally a scam. A very addictive one too
minus-squareIronBird@lemmy.worldlinkfedilinkEnglisharrow-up1·3 days 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-squaredou9m@lemmy.calinkfedilinkEnglisharrow-up1·3 days agoThey could have no bots at all and it would still be an obvious scam lmao.
People losing money from betting? Who woulda thunk?
Yep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.
I think the fact that bots are winning makes this whole thing a scam.
Gambling is literally a scam. A very addictive one too
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.
They could have no bots at all and it would still be an obvious scam lmao.