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'Bone-Chilling': Gamblers ‘Vowing to Kill’ Journalist Unless He Changes Iran War Report to Help Them Win Polymarket Bet (www.commondreams.org)

submitted 1 day ago by return2ozma@lemmy.world to c/nottheonion@lemmy.world

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[–] Modern_medicine_isnt@lemmy.world 3 points 8 hours ago (1 children)

The thing I struggle with, is how do they manage ensuring thier is a bet on the other side to balance. I mean someone has to make the first bet. I assume you can offer, but if no one or not enough people take the offer then your offer doesn't conver to a real bet or something? And if that is how it works, say someone puts up money on a significant underdog. There would likely be a lot of interest, probably more than needed to balance the bet. How do they decide who gets the action and who doesn't?

[–] ayyy@sh.itjust.works 3 points 6 hours ago

The two sides don’t have to be balanced. That’s what “betting odds” are. If there are 3 “yes” bets and 1 “no” bet then there are 3:1 odds. If the “no” wins they will get much more money because they don’t have to split it with anyone.