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A comment on Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M. Parent comment

Re:Dali owner file petition to cap liability in Baltimore br... by bluelightning2k on Wednesday April 03, 2024 @07:46AM (#39916182)
Problem with this: an individual betting shop pays out, the sales lift is shared among the entire industry.

Concentrated downside, distributed upside. I doubt the individual bookie is happy.

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Re:Dali owner file petition to cap liability in Baltimore br... by gtirloni on Wednesday April 03, 2024 @07:53AM (#39916253)
I'm not familiar with betting in general but is there even a bookie this days? Or is that a company (one of the thousands flooding social media with ads lately)?

It seems, like in other industries, being large helps to weather out such rare events.

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Re:Dali owner file petition to cap liability in Baltimore br... by htrp on Wednesday April 03, 2024 @08:58AM (#39916843)
Most "individual betting shops" are a sales agent where the actual "book" is run through bet365/paddypower (at least the ones aboveboard in the UK).
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Re:Dali owner file petition to cap liability in Baltimore br... by Majromax on Wednesday April 03, 2024 @10:12AM (#39917764)
Proper betting shops are market makers, ideally balancing their books such that they profit by the house spread regardless of outcomes. A bookie that takes on a substantial net position is accidentally gambling with their own money.
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