adrianallen99
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I started up a betonmarket club just playing around and I keep it pretty low on cash. Today I deposited some cash into it, place a bet, which won. What I discovered is there is a very annoying way for club members to profit and let you take all the risk.
Here's an example (I have removed the commission to simplify it)
I buy 100 club units at $1/unit. I place a bet to win $200 costing $100. The bet last 30 mins. With 5 mins remaining the bet has clearly won. This should double the cost for a club unit, but in this last 5 mins someone purchased another 100 units at $1/unit. Meaning there is now 200 units in the club. The bet wins so the account now has $300, divide this by 200 units and the club price is $1.5/unit. The new member then sold all his units making $50 profit for hardly any risk. I took all the risk and made $50 instead of $100.
I guess that will teach me for starting up a betonmarkets club
Here's an example (I have removed the commission to simplify it)
I buy 100 club units at $1/unit. I place a bet to win $200 costing $100. The bet last 30 mins. With 5 mins remaining the bet has clearly won. This should double the cost for a club unit, but in this last 5 mins someone purchased another 100 units at $1/unit. Meaning there is now 200 units in the club. The bet wins so the account now has $300, divide this by 200 units and the club price is $1.5/unit. The new member then sold all his units making $50 profit for hardly any risk. I took all the risk and made $50 instead of $100.
I guess that will teach me for starting up a betonmarkets club