Quote:
Originally Posted by FallawayJumper
if you bet no on Hilary, Harris, or Pence and paid .98 if and when you win your bet you would still lose money
because they're going to extract a 5% withdrawal fee including on what you deposited - insane
Not to distract from the discussion about hippies, but it does not quite work like that, and I know as I have to deal with Skrill transfer fees and at times exchange fees and country based fees (Romania for instance) when working with players. You would definitely "lose" money if you cashed out your whole balance, including those winnings, after winning those bets, but I would suggest that is not the best approach to how to move money given the cash out fee, and I doubt many would do that.
Assuming one does not do a single churn of every dollar ie: you cash out every time you complete a bet, then the 5% fee is quite a bit lower when measured against how much is wagered, though it is still a fee that is part of the market rate, though it may not be that significant given that most do a lot of multiples of their bankroll in wagering (ie: I doubt many do long term plays to make 2-3%).
I would definitely agree that the betting markets like that are a reasonable snapshot of the current situation so the fact it went from 60 40 Trump to 60 40 Biden is pretty significant, and the betting markets (while not perfect) tend to be more money based than actual politics based, so I would definitely look at that trend as something a hippie/mask hating Trump supporter should be concerned about.
Anyway, back to hippies, communists and evil geography!