Originally Posted by Half Smoke View Post
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this PredictIt bs is a sad joke - 5% of even the money you deposited taken away from you

even horse racing which has a very high takeout doesn't do this - anywhere

the bottom line is they're steering you towards making bets you might not want to make to minimize their fees

and they're steering you away from bets you might want to make because the fees would eat into so much of your profit

this is some total bullshit - I can't see making a bet for these reasons or avoiding a bet for these reasons

it just sucks

this is some millennial clowns thinking they're really smart and that they're going to rip people off for big bucks

and then claim they're a non-profit organization and pay themselves $250k per year salaries

a real sweet hustle
Horse racing, in general terms, effectively takes more than 5% the very second that the bet has been made by way of the handle. Otherwise, you would not have horse racing tracks. Depending on your perspective, you might suggest that only losing bettors pay the handle, but I look at it as similar to the rake in poker...

A.) Everyone pays the rake, or at least, everyone who bet into a pot.

OR:

B.) If I had to put the rake as being paid by only one person, it would be the winner of a pot won by a sole person. In a 0% house edge (rake) game, all of those chips would belong to the winner, would they not?

Similar to poker rooms where it is known that there will be a rake, whether percentage or house minimum, horse racing works the same way. The tracks get a slice of all monies bet. The money is lost by somebody as soon as it is bet.

I don't otherwise disagree with the rest of what you said.