ElMonstro

Karma: 0

ElMonstro 26 Dec 2020 21:09 UTC
1 point
in reply to: Jakobovski’s comment on: What trade should we make if we’re all getting the new COVID strain?
Is there any way to short VIX?

ElMonstro 26 Dec 2020 21:04 UTC
1 point
on: Limits of Current US Prediction Markets (PredictIt Case Study)
I think you are mostly correct, especially regarding the 10% profits tax and the 5% withdrawal tax. But I just made $6k (on invested value of $20k) by betting on swing states, both pro and against Trump.
The Upper Midwest swing states seemed like easy money and were mispriced, according to FiveThirtyEight. I also won with bets on SC and TX for Trump: I got the SC bets at 85%. Even considering fees, that means 8.5% for two months. This seems like absurdly easy money to me. I got greedy and bet on FL and OH and lost there, or my winnings would have been over $10k.

After the election was called, there were a number of places where you could get 10% in a few weeks (or 4% including withdrawal fees).
The main way to make money on this site is to avoid withdrawal fees as long as possible by cycling through a number of low risk bets. It is kind of tedious and “picking up dimes in front of a roller coaster” to be sure.

ElMonstro 26 Dec 2020 20:46 UTC
1 point
on: Limits of Current US Prediction Markets (PredictIt Case Study)
I think you are mostly correct, especially regarding the 10% profits tax and the 5% withdrawal tax. But I just made $6k (on invested value of $20k) by betting on swing states, both pro and against Trump.
The Upper Midwest swing states seemed like easy money and were mispriced, according to FiveThirtyEight. I also won with bets on SC and TX for Trump: I got the SC bets at 85%. Even considering fees, that means 8.5% for two months. This seems like absurdly easy money to me. I got greedy and bet on FL and OH and lost there, or my winnings would have been over $10k.

After the election was called, there were a number of places where you could get 10% in a few weeks (or 4% including withdrawal fees).
The main way to make money on this site is to avoid withdrawal fees as long as possible by cycling through a number of low risk bets. It is kind of tedious and “picking up dimes in front of a roller coaster” to be sure.