Combined probabilities were over 110%, so I went “No” on all candidates. Even with PredictIt’s 10% fee on winning, I was guaranteed to make a tiny bit on any outcome. If a candidate not on the list was chosen, I’d have made more.
My market investment came out to ($0.43) — that’s negative 43 cents; ie, no capital required to stay in it — on 65 no shares across the major candidates. (I’d have done more, but I don’t understand how the PredictIt $850 limit works yet and I didn’t want to wind up not being able to take all positions.)
I need to figure out how the $850 limit works in practice soon — is it 850 shares, $850 at risk, $850 max payout, or.....? Kinda unclear from their documentation, will do some research.
But yeah, it was fun and it works. Thanks for pointing this out.
By the way, wanted to say this caught my attention and I did this successfully recently on this question —
https://www.predictit.org/markets/detail/5883/Who-will-win-the-2020-Democratic-vice-presidential-nomination
Combined probabilities were over 110%, so I went “No” on all candidates. Even with PredictIt’s 10% fee on winning, I was guaranteed to make a tiny bit on any outcome. If a candidate not on the list was chosen, I’d have made more.
My market investment came out to ($0.43) — that’s negative 43 cents; ie, no capital required to stay in it — on 65 no shares across the major candidates. (I’d have done more, but I don’t understand how the PredictIt $850 limit works yet and I didn’t want to wind up not being able to take all positions.)
I need to figure out how the $850 limit works in practice soon — is it 850 shares, $850 at risk, $850 max payout, or.....? Kinda unclear from their documentation, will do some research.
But yeah, it was fun and it works. Thanks for pointing this out.