The movie _Casino_ highlights how insider information was and is used to improve the house odds [0].
Information about a players wellbeing and their life goes a long way. Example, they would pay paper boys to talk to coaches to find out non public information. Such as if a player of the team is going through relationship problems.
All of which is significantly harder than putting up a gigantic billboard that says "Have insider knowledge on an important event? Place a bet here using crypto!"
Every important event in the world has dozens if not hundreds of people "in the know" before it happens. Not everyone has paper boys, chatty coaches, or the time/energy required to connect all those dots.
The entire flow insider information is reversed from "go out and look for it" to "invite it in anonymously"
Sports betting has been around forever, and it has been gamed forever. Gambling is often an addiction and some cheating doesn’t stop people from doing it
To corrupt a Polymarket bet, there needs to be only one person with inside knowledge of a planned event's timing, outcome, duration, etc in order to destroy the other side. The vast majority of Polymarket-bettable events have at least a few dozen if not hundreds or thousands of people with prior knowledge. Polymarket is now a known market where they can (conveniently through crypto) participate. It is basically a billboard saying "do you have interesting inside knowledge? Come here and make some money!"
To corrupt a sport bet, there needs to be an actual manipulation of events perpetrated by a very small, very closely watched and analyzed group of people (athletes or officials).
In my view, it seems immediately obvious that as prediction markets become even more mainstream (and so the billboard effect gets stronger), Polymarket bets will have a significantly higher rate of corruption than sports bets.
yndoendo|2 days ago
Information about a players wellbeing and their life goes a long way. Example, they would pay paper boys to talk to coaches to find out non public information. Such as if a player of the team is going through relationship problems.
[0] https://www.themoviedb.org/movie/524-casino
estearum|2 days ago
Every important event in the world has dozens if not hundreds of people "in the know" before it happens. Not everyone has paper boys, chatty coaches, or the time/energy required to connect all those dots.
The entire flow insider information is reversed from "go out and look for it" to "invite it in anonymously"
Barbing|2 days ago
mountainriver|2 days ago
estearum|2 days ago
To corrupt a sport bet, there needs to be an actual manipulation of events perpetrated by a very small, very closely watched and analyzed group of people (athletes or officials).
In my view, it seems immediately obvious that as prediction markets become even more mainstream (and so the billboard effect gets stronger), Polymarket bets will have a significantly higher rate of corruption than sports bets.
blazespin|2 days ago
estearum|2 days ago