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Non-Tech : Fixed odds financial betting
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To: Copperfield who wrote (6)3/7/2002 12:18:29 PM
From: lee0  Read Replies (1) of 10
 
but what you said. bet. it's a bet. gamble. the foundation of that type of business is that the odds are in the operators favor. just like a casino. the public is wrong and will lose money in the long run.

he probably has a complicated formula so that he will make money. notice that there is a maximum account size. also read 6. on the legal terms.
"* The calculation of the price to be paid (or the payout to be received) for financial betting contracts on this site at the time the financial betting contract is purchased or sold will be based on the Company's best estimate of market price movements and the expected level of interest rates, implied volatilities and other market conditions during the life of the financial betting contract, and is based on complex mathematics. The calculation will include a bias in favour of the Company. The financial betting contract prices (or the payout amounts) offered to customers speculating on market or index prices may differ substantially from prices available in the primary markets where stock indices or commodities or contracts thereupon are traded, due to the bias favouring the Company in the price calculation system referred to above. The Company's decision as to the calculation of a financial betting contract price will be final and binding."

i really want to see this guy's plan. i looks tight. i wonder if it is insured.

sure the forex carries a lot of risk. the spread can kill you. but if you can't handle the risk you should not trade the market. if i was a billionaire i would trade the forex. at least then i would get a good spread <G>
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