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Topic
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Merits 5 from 2 users
Re: Flag reference thread: spy100 "betting" and "escrow" service
by
suchmoon
on 28/08/2020, 11:57:36 UTC
⭐ Merited by LoyceV (4) ,DireWolfM14 (1)
That's really too bad, because I like the idea of his thread! If he'd use escrow and really wants to do all that work for $0.39 profit per bet, it could be a fun for some on-forum betting.

Except there isn't really any work to be done. He didn't post any elaborate decision logic that he would follow or anything like that. For example - "Dow will be >= 32000 points" - what is it? High? Close? Total COVID cases - data source, etc?

If two users wanted to make a P2P bet they can just do it, with or without escrow, without a third party taking a 10% (or 5%, the jury is still out on that) cut.

In other words, I think someone like spy100 making the decisions on those bets is a risk even with a reputable escrow, and if spy100 isn't making the decisions (the escrow is) then what exactly is his role.