GiddyGap@lemm.ee to politics @lemmy.world · 2 months agoKamala Harris has a nearly 40% chance of beating Trump, bookies saywww.marketwatch.comexternal-linkmessage-square23fedilinkarrow-up112arrow-down143
arrow-up1-31arrow-down1external-linkKamala Harris has a nearly 40% chance of beating Trump, bookies saywww.marketwatch.comGiddyGap@lemm.ee to politics @lemmy.world · 2 months agomessage-square23fedilink
minus-squarePronell@lemmy.worldlinkfedilinkarrow-up7·edit-22 months agoIt’s what bookies do. They set the payouts and take bets from both sides so that the losers pay for the winners. After a little work it’s just math and turning away bets / adjusting payouts when you’re already too heavy on that side.
minus-squareDragonTypeWyvern@midwest.sociallinkfedilinkarrow-up5·2 months agoAnd your profit comes from putting your finger on the scale.
It’s what bookies do.
They set the payouts and take bets from both sides so that the losers pay for the winners.
After a little work it’s just math and turning away bets / adjusting payouts when you’re already too heavy on that side.
And your profit comes from putting your finger on the scale.