Betting on weird things and the issues related

[Byebyebtc]

It's actually my first time hearing about weather betting, is that another new one ?
I personally like how gambling is getting creative, don't you think this will reduce additional??

Imagine you gamble at different things, like rush hour, or wether forecast betting, it will give more a feeling prediction rather than making money I do feel that it could redirect the way some addicted individuals see gambling, at least it could reduce addiction
So I do support all these new form of gambling

[Davidvictorson]

~snip~

I would say that we haven't seen anything yet.
The prediction market may just as well be the singular factor that would make us see the rising in gambling addiction, problem gambling on a scale that we have never seen before.
They will not be able to stop or control the insider trading that would soon arise from these.
Sadly, I do not see away that the authorities can do anything about it, unless they ban it completely which is not even possible.

[bhadz]

It's actually my first time hearing about weather betting, is that another new one ?

When it's with the odd or weird things to bet for, you'd see mostly them for the first time. But this didn't surprised me, I've seen enough long time ago and that's why if it's with this weather prediction or betting, there must be some other more weird stuff to bet on.

I personally like how gambling is getting creative, don't you think this will reduce additional??

I don't think so, there will be more creativity to it and as long as the casinos are willing to extend further and give their customers the entertainment they need, we might see more from them being done for as long as they see that there's a demand for it.

[AVE5]

Did you trust the casino offering the games? This means you are also trusting the games they are offering!
These kinds of bets should be taken... without any kind of expectation. However in some cases the insider trading and other intrinsic risk are high compared standard bets on sport.  

It's really not a joke with the saying you can't beat the house edge.
If we can rate the trust levels we've on any market or game providers, it's doubt able if anyone is claimed to honestly trust it 100%.
Some players had also seem to lost their minds in trusting one that much could simply be that they've been lucky on winning with smooth withdrawal experiences.
It'd also seem impossible that someone can actually win in some natural events markets until when someone wins then they'll always trace it to be an insider bet. Sometimes I question myself why they actually confront winners who somehow managed to win.

[Alphakilo]

It's actually my first time hearing about weather betting, is that another new one ?
I personally like how gambling is getting creative, don't you think this will reduce additional??

Imagine you gamble at different things, like rush hour, or wether forecast betting, it will give more a feeling prediction rather than making money I do feel that it could redirect the way some addicted individuals see gambling, at least it could reduce addiction
So I do support all these new form of gambling

The rise in all these kinds of bet is what gave birth to the predictions market in the first place and I doubt such kinds of random bets on just about anything is or should be classified under a regular sports betting platform because it doesn't quite fall into the category of a kind of sports.
This is what makes me believe that the predictions market in order to survive today's day and age regulations should be allowed to have their own separate regulations that is distinct from regular sportsbetting platforms.
My concern though is how such bets are easily manipulated and the rise of insider trading activities which makes this kind of unfair to the regular person just trying to win some food amount of funds.

[Smack That Ace]

so people bet on who would become the next pope, and the craziest thing is that if you check those who are betting on this, they are christian and I thought Christians are not expected to be gamblers. It is crazy that people are betting on some things that is not worth betting on.
I don’t think I have bet on any crazy thing like this things before, I understand that people can bet on political positions, but betting on a religion position is something that is surprising to me.
I believe there are a lot of crazy and nasty things people still gamble on, honestly gambling is becoming something else .

Today, prediction markets are designed in such way that we can place financial bet on any subject. Be it weather, papal election or celebrity divorce. Gambling is no longer limited to casino or playing card, it has now been brought to drawing room of ordinary people with guise of information market or future trading. Whenever people around the world are watching an event, capitalism creates a betting market to use it for financial gain.

Actually there is no rule that a follower of any particular religion will become a saint and follow all the rules. history of gambling among Christian is very old. And if betting on political position seems normal to you, then papal election is also huge political process at the end of the day!!! Huge power politic work behind who will be pope inside the Vatican. So from perspective of prediction market, there is no difference between papal election and American presidential election. So you can bet on it as a kind of power game, not from religious perspective.

[OgNasty]

I know when people bet that Strategy would sell Bitcoin and then they did, the prediction market got it wrong and a lot of people lost a lot of money thinking they had a sure thing. That’s why you need to be careful in new markets with unestablished rules. You never know what will happen when things don’t go according to plan.

[CryptoBuds]

And another thing, betting on something provides a financial incentive to alter the results if possible. With prediction markets betting on anything becomes easier than ever. So for instance bets on the weather are created on a whim now. It was recently reported then that someone tried to mess with a weather station to win a bet, essentially forcing it to report false results by increasing the surrounding temperature. This puts regular use cases for the weather station in a disadvantaged position just to provide a financial reward to an individual which can even be harmful with other things.

Risk you mention here cannot be ruled out. However, benefit of entire prediction market cannot be denied because of some few isolated attempt at fraud.

Prediction market provide much more accurate data than general survey or expert forecast. Because here people give their opinion about their own financial risk. This results in most reasonable forecast that can help weather agencies, businesses and policymakers make right decision.

I think risk of manipulation is mainly lack of infrastructure security. You cannot call it market failure. If any weather station is affected by external heat and gives incorrect information, it was already at risk of incorrect information. Now, because there is economic stake,  so, security, surveillance and verification processes of these infrastructure will be stronger.

[Jegileman]

It is actually crazy as you say, betting for the next pope sounds so funny and it then seems like this people don’t have anything to do with money and that’s why they decide to just bet on random things.
Recently, gambling has gone beyond  sports or casino, people are placing bets on everything possible just for them to make extra money, it has become the easiest way to make money.

There are some bets that even if they look verifiable like the example of the next pope, I won’t waste my time to want to bet on such events. Betting is getting even more and more addictive and bets on events like this are contributing to them. Bets in which the results can’t be manipulated and can be verifiable should be the main focus, not every bet out there we should be risking money on. They’re trying to make it even more easier for people to bet without thinking of analysing the outcome in a stricter manner.

[Churchillvv]

My experience outside sports betting was the US elections where I saw bets on who would be the next president, then there was the bet on who the next pope would be. And I thought those were the craziest bets ever until this thread lol. I think these kinds of bets have a certain appeal to people than regular betting, imo the odds are much better than slot games.

Me too, I was thinking after the election such bets will die of but it turns out that election gave such bet game and now polymarket is an anchor for whatever you want to bet on, this days it seem like the way people used to just say bet me on this or that on regular stuffs now it’s a very high rewarding thing hence it’s going to get ridiculous since the range of things we can bet on are not longer on the limit, soon death could be possibly predicted on the market which will be the most outrageous thing to happen.

[Padi24]

I know when people bet that Strategy would sell Bitcoin and then they did, the prediction market got it wrong and a lot of people lost a lot of money thinking they had a sure thing. That’s why you need to be careful in new markets with unestablished rules. You never know what will happen when things don’t go according to plan.

I know it's also part of fun but there are some bet I see some people venturing into then I will say that instead of to venture into such bet I would rather spend the money in beer parlor than wasting it in something that i almost have zero clue if it will work or not, sport betting is even more easier than to bet that strategy would sell Bitcoin. It would have been easier if strategy said something about selling his holdings but didn't give the exact date or time that he will sell, then at this point they can now bet when this will happen but instead he didn't even Said anything about selling his holdings and people are presuming that he will sell and start betting on it.

[Hispo]

Well. In this world we have literally people betting on the death of other people, famous people and common people in hospitals.
We also have people betting on wars and conflicts all around the world, literally betting on the life or death of others, so there is little left which could impress me.

Betting on weather, traffic or other weird things are pretty tame, in my opinion.

As long as there are people with spare time and some spare money, that people will find the most extravagant ways to risk their money and get amusement out of it.

That is how this world works.

[Samlucky O]

This type of betting listed here are just wired, I just can't imagine why people are going for this type of bet that can be manipulated instead of tbe normal casino or football bet which is more reliable and looks provably fair and not this one that is not trusted. Engine not trusting 1 camera footage of the weather game or the box game to see how many car to enter inside. When a game is no longer trustworthy because it looks like something that can be manipulated then it is not good because the system can be tampered with and many will be deceived. I haven't played any of this games but from the look of things they are not encouraging.