When other websites started paying out early, I checked predict-it and thought they intended to wait until there was no ambiguity. It's how their rules and update-email were written.
Given contested states sent two sets of electors, I thought they'd wait to pay out and even considered buying about $200 more to see how that would play out. Seems we got screwed, and unfortunately it seems PredictIt didn't learn the lessons from 2016.
This is the only time I've ever made a bet like this, and perhaps it's a lesson learned. I did put $1.5k into predict it, and have lost $1k so far which depending on what happens in the next month might supposed to be about $9k in winnings.
The world is risk; whether you put money in a stock market, a house, sitting in a bank account, etc. I almost put $1k into bitcoin back when it was 80-cents, but I was having trouble figuring out how to do that back in the day. I almost put $5k into Ford stock when it hit rock-bottom around 2008.
Regardless of the last paragraph, I don't advocate straight-up gambling for several reasons, including PredictIt takes 10% of winnings and 5% more when you cash out. You've basically already lost before you've either won or lost anything. The "smart" gambler doesn't gamble, but instead runs the gambling website.
I wouldn't judge everything from hindsight, but this is another data-point.
This is why we don't make bets.
I don’t always get screwed by nebulous and arbitrary rules.
When other websites started paying out early, I checked predict-it and thought they intended to wait until there was no ambiguity. It's how their rules and update-email were written.
Given contested states sent two sets of electors, I thought they'd wait to pay out and even considered buying about $200 more to see how that would play out. Seems we got screwed, and unfortunately it seems PredictIt didn't learn the lessons from 2016.
I made over 3k on 400.00 in 2016.
I always make bets. It’s in my nature.
This is the only time I've ever made a bet like this, and perhaps it's a lesson learned. I did put $1.5k into predict it, and have lost $1k so far which depending on what happens in the next month might supposed to be about $9k in winnings.
The world is risk; whether you put money in a stock market, a house, sitting in a bank account, etc. I almost put $1k into bitcoin back when it was 80-cents, but I was having trouble figuring out how to do that back in the day. I almost put $5k into Ford stock when it hit rock-bottom around 2008.
Regardless of the last paragraph, I don't advocate straight-up gambling for several reasons, including PredictIt takes 10% of winnings and 5% more when you cash out. You've basically already lost before you've either won or lost anything. The "smart" gambler doesn't gamble, but instead runs the gambling website.
I wouldn't judge everything from hindsight, but this is another data-point.