Sklansky can't win? *DELETED*

[Bintowards]

Post deleted by Mat Sklansky

[Ed Miller]

I don't know if I am reading this correctly, but it seems that you can lay odds that a certain player won't win! Like you can lay 150-1 that Howard Lederer won't win, for instance. If this is the case, then this is a fantastic bet... with a 700+ player field, no player, no matter how strong, has a 1/150 chance to win, IMO.

[Bintowards]

Betdaq is a betting exchange, like a stock market. You pick your own price, and if it get's matched, you pay commission (2%) on winning bets. This is how all betting will work in the future, when sportsbooks become a thing of the past.

As for the WSOP, currently you can lay Howard Lederer at 180-1, as someone has put up an offer to back him at that price. However, you could also put your own offer in to lay him at 102-1, and as this would be best price right now, anyone wanting to back Howard now would take that price.

Because this is a one winner market, you can lay multiple players for the same money. You could, for example, lay 30 players for $6 at 150-1 for the same $900, and still have freedom to back and lay in the market, as worst case scenario money only gets tied up.

There has been significant debate over whether or not any player should be less than 100-1 to win the WSOP. I, for one, feel that players such as Howard Lederer, Erik Seidel, and Phil Ivey are actually 50-1 shots, and there are over 400 players in the field who have no shot at all.

Hopefully a market such as this gives everyone a chance to put their money where their mouth is.

[Jimbo]

"This is how all betting will work in the future, when sportsbooks become a thing of the past."

How much am I allowed to bet against that proposition? As long as we can define the future as before I keel over! /forums/images/icons/smile.gif

[Bintowards]

Maybe you're already living in the past. America is very slow. The largest betting exchange in Europe turns over more than $80 million per week. Fact. It's a simple question of best price.

Sportsbooks turn away winning bettors. At an exchange, winning bettors are rewarded through lower commissions due to higher turnover.

[orbie]

I believe I read something about this in WIRED magazine. A stock market of bets this guy in China was running in a network that span across the globe. Anything you could place a bet on he was in. During the course of the interview he was seeing $30,000 swings.

Or I could just be misunderstanding all together.