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tpmyesterday at 9:01 PM2 repliesview on HN

> But, one silver lining, maybe, is gamblers are a little less likely to fall for fake news. Maybe?

Long time ago I was working for a betting company and we had a product where virtual (horses, dogs, bikes, cars) were racing in a virtual environment. This was displayed on a TV in physical branches and on the website, along with completely transparent information that it is all random, source of randomness was even some government audited hardware. The customers could place bets on these virtual racers, identified by numbers. Essentially if there were 8 'dogs' in a race, there was a 1/8 chance your pick would win. And then a new set of random numbers would be generated and based on that a new 'race' video would play. The 'races' would go on every day, 4 in hour or something like that.

And the customers (in the live chat or sitting in the physical locations) were often debating the form of the individual 'dogs', how they would perform in the next race and so on. Yes, really.


Replies

ManuelKiesslingyesterday at 10:39 PM

Am I overlooking something, or would that mean it’s super easy for a rational participant to make money?

show 3 replies
reillyseyesterday at 10:32 PM

pigeon dancing (ala Skinner). Humans love to ascribe meaning to things, we have a real problem with randomness.