I always thought a casino might make more sense if it was run as a cooperative where members were also shareholders, so you could have fun gambling but your money came back to you eventually
Kalshi and Polymarket take a cut and is making the markets as well. Yes you can create a market and fund it yourself, but almost no one ever does this. People have been trying to make true prediction exchange markets like this 3 decades, its basically impossible without professional market makers.
Its largely impossible to fund "organic decentralized" prediction markets because the vast majority of money that goes into them is "dumb money" and there will always be sharp money that takes their cut, and has substantially more funds. Betting markets are zero sum, so the smarter participants is always going to absorb the entire bankroll of the dumber participants over time..
The closest thing to what you describe were BTC dice games, which is kind decentralized, but prediction markets are impossible, some smart guy is always going to be there to make a more accurate fair on a market and eat all the liquidity from the little guys.
with their 5 minute crypto thing, its almost gambling at this point but there is still the point of dakolli which I myself couldn't have written better.
My point is that maybe federated casino where there is no casino but sort of p2p on a completely fair 50/50 dice of sorts similar to how casinos operate would be more beneficial than casinos existing with their 3% cuts and the house3% always winning.
At the very least, its possible to do so and similar to Kalshi/Polymarket I feel like its definitely possible.
I don't want to EVER touch gambling but I think its addicting and maybe it can atleast help the addicts if they are in a fair game compared to a rigged game towards the house.
That's what a friendly neighborhood poker game is. There is no house take. I am not a lawyer, but have been given the distinct impression by one that in US jurisdictions the house take is what makes gambling go from entertainment amongst friends to illegal racket.
Gigachad|6 days ago
dakolli|6 days ago
Its largely impossible to fund "organic decentralized" prediction markets because the vast majority of money that goes into them is "dumb money" and there will always be sharp money that takes their cut, and has substantially more funds. Betting markets are zero sum, so the smarter participants is always going to absorb the entire bankroll of the dumber participants over time..
The closest thing to what you describe were BTC dice games, which is kind decentralized, but prediction markets are impossible, some smart guy is always going to be there to make a more accurate fair on a market and eat all the liquidity from the little guys.
Throwagainaway|6 days ago
My point is that maybe federated casino where there is no casino but sort of p2p on a completely fair 50/50 dice of sorts similar to how casinos operate would be more beneficial than casinos existing with their 3% cuts and the house3% always winning.
At the very least, its possible to do so and similar to Kalshi/Polymarket I feel like its definitely possible.
I don't want to EVER touch gambling but I think its addicting and maybe it can atleast help the addicts if they are in a fair game compared to a rigged game towards the house.
wmeredith|6 days ago
kdfjgbdfkjgb|6 days ago