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Betting service; does it exist, would anyone use it?
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Areen Sassel
Dirac Angestun Gesept
#1 - 2014-07-31 14:33:01 UTC
(Is this a Market Discussion? I don't know. It's financial, and it's a better fit than any other Gameplay Centre category).

I had an idea, and I was wondering if it existed already and/or if it might be viable. The idea would be to act as a trusted third party for two players who want to bet against each other (eg, which is where I got the idea, on the future price of some market good, potentially to act as a hedge against a trading position). The operation would take a modest percentage of the bet capital, obviously.

Thoughts:
Everyone would think it's a scam, where you just were going to steal the capital. Well, yeah, they would. You'd have to start small and build trust, to a point where it was clear that at any given time, continuing to collect your modest percentage would be better money than a one-off heist.

Bets would have to be on something unequivocally determinable ("best sell price on a PLEX in Jita on such-and-such a date will be X million") or something where the betters would be willing to trust the operation's decision.

It wouldn't be worth it because you'd have to keep logging in at oddball times to check this and that, and besides, how does your schedule permit logging into EVE at any time of the day or night? Well, fair enough.
Vibiana
Frontier Trading Company
#2 - 2014-07-31 15:00:12 UTC
Setting up an order IS your bet. So, what the point in this wall'o'text?
Abidal Trekt
Caldari Provisions
Caldari State
#3 - 2014-07-31 16:58:18 UTC
By this do you mean, requesting someone manage a buy order for you?
Tau Cabalander
Retirement Retreat
Working Stiffs
#4 - 2014-07-31 17:32:16 UTC
Angelica Everstar
#5 - 2014-07-31 17:51:51 UTC
Eve bet covers this well.

Becoming trusted 3rd party is really really hard work, but if it's what you really want - go for it.
Would also mean I could stop considering take over some of grendell's work, now that he is not doing so many more investment bonds.

As with most things EvE - it takes time ;-)

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Adunh Slavy
#6 - 2014-08-01 02:57:15 UTC
Vibiana wrote:
Setting up an order IS your bet. So, what the point in this wall'o'text?



Well, sort of.

An idea like this would allow two or more people to make a bet on the direction of a market item with out having to deal with the market, its timings and managing orders, and could potentialy generate greater returns, depending on the bet of course. It would be, in a sense, a sort of derivitive.

Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.  - William Pitt
Lucas Kell
Solitude Trading
S.N.O.T.
#7 - 2014-08-01 09:48:14 UTC
I'm not sure who would use this. Anyone that I would just be sitting around casually betting with I'd trust enough to not go back on their word (and if they did, who cares, it's all just fun). Paying a third party to hold onto the isk in the off change that my mate won't pay up about some random silly bet seems like the opposite of a good idea. Now I have to trust the random to pay up, and either way between the two of us we've had to pay the third party.

The Indecisive Noob - EVE fan blog.

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Areen Sassel
Dirac Angestun Gesept
#8 - 2014-08-04 10:24:00 UTC
Angelica Everstar wrote:
Eve bet covers this well.


Ah, that's the scenario I rather expected / was afraid of; it exists already and is perfectly well done. :-)