alt Hacker NewsOf course there is a house. You have a spread and probably a ton of other not so obvious fees. The house always wins by design, especially on polymarket.
Of course there is a house. You have a spread and probably a ton of other not so obvious fees. The house always wins by design, especially on polymarket.
No not really. Polymarket collects fees which are simple and deterministic. Bets on outcomes are tokens on the blockchain and can be "split" ($1 into YES/NO outcome tokens) and "redeemed" (YES & NO outcome tokens into $1). Placing a bet is simply a market order on a plain ol' central-limit orderbook for these tokens. The only house there is maybe the market makers, which isn't a house. If it were a type of "house", then NYSE/NASDAQ has a house too.