Introducing Betstack π°
A sportsbetting app powered by Polymarket that lets you combine multiple bets into a single one, just like your favorite bookmaker but with better odds π
How hedging/arbitrage works in the prediction market using @BetStackapp (Polymarket Builders program)
Today, I decided to conduct an experiment with the first project that offers parlays on Polymarket
For the experiment, I took $10 and made two predictions: Brentford-Brighton (Brighton will not lose,
1.69) and Man City-Newcastle (Newcastle will not lose, 2.86), parlay odds: 4.84
The first part was successful, Brighton won 2-0. And before the second part, I can already see my profit on Betstack, but I don't know yet how the second match will end, where Man City is the favorite
I go to Polymarket and look at the odds. I see that I have several hedging options. For example, if I predict a Man City win (here I get money anyway), then I need to $18
If ManCity wins, I am guaranteed to receive 13 cents. This is a zero hedge, which is used when I am confident about Newcastle but simply want to play it safe
BUT:
If I make a prediction of $30.5, I am guaranteed to receive ~$48.5
Cost of two predictions: 10+30.5=40.5
Profit: 48.5
(48.5/40.5)*100% = 19.7%
In any case
And yes, don't forget that math always wins
We got bored with UCL group stage, now the serious competition begins.
First one to drop a « realisticΒ Β» 10x odds with this weeks game get 10$ of freebets π