The $350 is all of my positions across all of the markets.
I'm only $6.50 into Biden dropping out before November 1st. If he does not, I lose my $6.50. If he does, I win $50.11 (55 "yes" shares bought at around 11 cents each, and the "winning" event gets paid out at $1.00 each).
Basically it's like a stock market of sorts. People buy more shares of the event in a market (Presidential election winner, Trump, YES), which causes the prices of those shares to rise closer and closer to $1.00 (the prices that the site will pay each share out if that event comes true).
Conversely, the price goes closer and closer to 0 the less likely people think the event is to win. Right now, (Presidential election winner, Kamala Harris, YES) is going for 6 cents.
Could be people hedging on a longshot, the same way I am with California being carried by Trump. You can read that one being at 6 cents as the market thinking it has a 6% chance of happening.
So you will lose $350 if Biden does not drop out on November 1st?
or $6.05?
I'm sorry. I've just never seen anything like this before.
The $350 is all of my positions across all of the markets.
I'm only $6.50 into Biden dropping out before November 1st. If he does not, I lose my $6.50. If he does, I win $50.11 (55 "yes" shares bought at around 11 cents each, and the "winning" event gets paid out at $1.00 each).
Basically it's like a stock market of sorts. People buy more shares of the event in a market (Presidential election winner, Trump, YES), which causes the prices of those shares to rise closer and closer to $1.00 (the prices that the site will pay each share out if that event comes true).
Conversely, the price goes closer and closer to 0 the less likely people think the event is to win. Right now, (Presidential election winner, Kamala Harris, YES) is going for 6 cents.
So, they truly believe that Commala Harris will be president and not Joe-"pedo basement" Biden? What does that mean?
Could be people hedging on a longshot, the same way I am with California being carried by Trump. You can read that one being at 6 cents as the market thinking it has a 6% chance of happening.