Re:A Gambler Who Cracked the Horse-Racing Code (2018)
by abakker on Tuesday September 03, 2019 @12:13PM
(#20868058)
if you suspect you aren't the most sophisticated gambler, then maybe it doesn't pay? Honestly, sports betting is orders of magnitude less sophisticated than Wall Street, so you have a better chance of finding an edge that others haven't also found.
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Re:A Gambler Who Cracked the Horse-Racing Code (2018)
by kratom_sandwich on Tuesday September 03, 2019 @12:56PM
(#20868552)
Also, it's easy to imagine that there are a lot of "unskilled" betters, i.e. old folks betting for the thrill of it, people betting a few bucks just for kicks, ... With wall street, there might be a few unskilled people, but they are probably a small minority.
Re:A Gambler Who Cracked the Horse-Racing Code (2018)
by user5994461 on Tuesday September 03, 2019 @03:28PM
(#20870219)
They're both the exact same thing when it comes to exchanges. I was working for a betting exchange and a market maker for a while, taking 500 orders a second and arbitraging between different competitors, before moving back to finance. It's quite interesting actually.
A lot of the market is not tradable though. On one end of the market, gambling is often a state monopoly with high spread and high margins (if not prohibited entirely), while on the other end there are large trades going on in private or closed circles.