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Most Prediction Market Traders Are Losing Money While Bots Rack Up Gains | Data from millions of accounts shows that trading and profits are dominated by a tiny slice of highly active accounts. (www.bloomberg.com)
submitted 4 months ago by silence7@slrpnk.net to c/technology@lemmy.world
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[-] inari@piefed.zip 56 points 4 months ago* (last edited 4 months ago)

People losing money from betting? Who woulda thunk?

[-] Lost_My_Mind@lemmy.world 22 points 4 months ago

I think the fact that bots are winning makes this whole thing a scam.

[-] dou9m@lemmy.ca 27 points 4 months ago

They could have no bots at all and it would still be an obvious scam lmao.

[-] Akasazh@lemmy.world 13 points 4 months ago

Gambling is literally a scam. A very addictive one too

[-] IronBird@lemmy.world 8 points 4 months ago

the real $ in prediction markets (unless you have inside info) is in knowing how to arbitrage a spread, making a bot to do so is pretty straitforward.

that's how the majority of the stock market works as well, the biggest casino in town.

[-] dan1101@lemmy.world 11 points 4 months ago* (last edited 4 months ago)

Yep exactly how gambling works. Most people lose. But gamblers think they are special and they will be one of the few who win.

[-] silence7@slrpnk.net 2 points 4 months ago

Not an unexpected outcome, but it's notably worse than with classic casino gambling because of the always-available model those firms have.

[-] Tollana1234567@lemmy.today 1 points 4 months ago* (last edited 4 months ago)

gamblers losing money , saying it aint so?

[-] CapuccinoCoretto@lemmy.world 4 points 4 months ago* (last edited 4 months ago)

I still can't believe prediction markets exist. Every bet requires a counterparty and information asymetry means its not a market, its a killing field going up against rigged bets just like this.

Billie, you're a genius

Enough to be a fool

A fool to gamble everything

And never know the rules

Some of us can only live

In songs of love and trouble

Some of us can only live in bubbles

  • The Magnetic Fields - My only friend
[-] SaharaMaleikuhm@feddit.org 4 points 4 months ago

What is this bs website? I get the article on half my screen. I am not reading that shit

[-] MedicPigBabySaver@lemmy.world 4 points 4 months ago

I liked: Last Week with John Oliver episode on these scam sites.

Just another straight up Scam by scumbags that lie and make up stories IN PLAIN SIGHT!

this post was submitted on 29 Apr 2026
153 points (98.1% liked)

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