Robinhood has launched live sportsbetting

[jjgold]

The volume starting to pick up, I was just looking at it

 

[djefferis]

You might find some off-numbers. Who's running the book?

It’s an exchange - so you will see a lot of traders throwing up off numbers - hoping someone takes them on smaller games.

Same shit you’d see daily on matchbook and you see in extended hours on stock market.

I’m curious to see how it goes for them - like I said - small events I don’t see it generating enough interest but bigger sports events/entertainment and politics I could see it becoming its own app eventually. Obviously political is the only market that spills over into broad financial market impact - but the way the next generation is with these micro investing/betting apps - there could be a future. Lots of people putting $50-100 a paycheck into fund these hoping to hit it big.

It’s funny in a way - we laugh at them, but then I remember all the people from the generation before me who played their numbers daily. $5 a day every single day faithfully. What’s the difference between putting $50 a week into a lotto vs $50 a week into Webull/Robinhood/DraftKings except the apps give better promos and payouts ?

 

[jjgold]

Don’t forget, take Trump away from election /political betting you’re gonna lose at least 60% of action

anything where his name is in a market gets great volume

 

[djefferis]

Looking at it now - basically just as well playing at the sportsbook.

Louisville currently 60 cents to win - a money line of -150. In line with most books - then you have a commission on the trade.

High Point at 25 cents - add 2 cents per for commission and your at 27 = bet $270 to win a grand. Same bet at DraftKings odds of +285 yields $1040.

It’s a novelty unless you’re making big bids and trolling hoping to get lucky then making an arbitrage play. I can see limited use for live bettors looking for higher limits/better odds - but for most players here not highly valuable.

 

[djefferis]

So just grabbed Creighton at 40 cents (+150 odds) - including commission - live on DK it is +105.

Markets a bit thin to start and a bunch of smaller orders (can buy a little as a single contract) - but for live bettors I suspect this will be a competitive option to books who have ultra low limits/wide margins.

 

[BigJay]

 

[BigJay]

So just grabbed Creighton at 40 cents (+150 odds) - including commission - live on DK it is +105.

Markets a bit thin to start and a bunch of smaller orders (can buy a little as a single contract) - but for live bettors I suspect this will be a competitive option to books who have ultra low limits/wide margins.

Looks like a good move if I’m understanding this correctly?

Creighton is $54 cents now. So you could cash out or sell that position right now for a profit?? (Excuse my ignorance if I’m not using the right terminology)

 

[BobbyFK]

It’s an exchange - so you will see a lot of traders throwing up off numbers - hoping someone takes them on smaller games.

Same shit you’d see daily on matchbook and you see in extended hours on stock market.

I’m curious to see how it goes for them - like I said - small events I don’t see it generating enough interest but bigger sports events/entertainment and politics I could see it becoming its own app eventually. Obviously political is the only market that spills over into broad financial market impact - but the way the next generation is with these micro investing/betting apps - there could be a future. Lots of people putting $50-100 a paycheck into fund these hoping to hit it big.

It’s funny in a way - we laugh at them, but then I remember all the people from the generation before me who played their numbers daily. $5 a day every single day faithfully. What’s the difference between putting $50 a week into a lotto vs $50 a week into Webull/Robinhood/DraftKings except the apps give better promos and payouts ?

So similar to matchbook in a way?

 

[djefferis]

And a little more indicative of the markets.

Orders are limit only and basically fill or kill - if you don’t get matched fully - you get only what’s available.

Ordered 5k Purdue - got 37. Wow - assuming I win - where to spend my $5 profit ?

 

[jjgold]

It’s pretty fun though

 

[djefferis]

So similar to matchbook in a way?

In a way - yes. Only difference I see of inability to just set a standing bid and hope someone accepts - at least on live events. The market makers set the price it looks like.

Got me thinking - what would the guys who started WSEX think about this. Remember - this was the original idea of WSEX - a place on the Internet where you could buy contracts on futures for World Series winner/MVP/Cy Young winner/ect.

It was way ahead of its time it seems - when was it introduced like 1993 ? Now here we are all these years later and it’s taking off.

 

[djefferis]

It’s pretty fun though

Day trading for sports bettors.

Like I said - it’s got a niche I think - but Joe Public it will just be a novelty and a way to get comfortable betting small amounts at horrible odds - just like the other apps.

 

[BobbyFK]

In a way - yes. Only difference I see of inability to just set a standing bid and hope someone accepts - at least on live events. The market makers set the price it looks like.

Got me thinking - what would the guys who started WSEX think about this. Remember - this was the original idea of WSEX - a place on the Internet where you could buy contracts on futures for World Series winner/MVP/Cy Young winner/ect.

It was way ahead of its time it seems - when was it introduced like 1993 ? Now here we are all these years later and it’s taking off.

Thanks for all the information!

 

[BigJay]

In a way - yes. Only difference I see of inability to just set a standing bid and hope someone accepts - at least on live events. The market makers set the price it looks like.

Got me thinking - what would the guys who started WSEX think about this. Remember - this was the original idea of WSEX - a place on the Internet where you could buy contracts on futures for World Series winner/MVP/Cy Young winner/ect.

It was way ahead of its time it seems - when was it introduced like 1993 ? Now here we are all these years later and it’s taking off.

The WSEX was what I was going to ask you about but wasn’t sure you’d get the reference because it was so long ago

I remember being able to buy golfers, for example, to win a tournament for $2-3 and if they were in contention on the weekend you could sell for $25-30 bucks or more

 

[djefferis]

Absolutely - that was the vision. An “exchange” where athletes traded like stocks.

Basically combining people’s fascination with stock market and fantasy sports - and exploiting there desire to “win” by overpaying for favorites.

Like I said - the 2% commission on Robinhood in general is a killer - right now for example Auburn is 99 cents - but with commission your losing money either way - either 1% or 100% depending on the result.

 

[jjgold]

Day trading for sports bettors.

Like I said - it’s got a niche I think - but Joe Public it will just be a novelty and a way to get comfortable betting small amounts at horrible odds - just like the other apps.

yes that is what it is

 

[KingKolzig]

No need for it

Have everything i need offshore

You do?

No activity from you so far....

 

[jjgold]

Polymarkets better
Vpn
Coin

 

[djefferis]

This app is worthless - they seriously are about to lose me and my account to WeBull over this stupidity.

So bought 500 Memphis at 38 cents early - tried to sell multiple times during half and early in 2nd half and couldn’t.

Now it’s completely frozen. Can’t even make stock trades.

I’m fine if I lose a couple hundred on Memphis - basically even from the other 2 games today (bought a lot of ‘Bama at an average of 90 cents) - but the fact they are potentially going to crash because of this and restrict access to my investments is unacceptable. I signed up with them because of the 4% Gold savings and because of the simple interface - but WeBull is now offering the same and not crashing from playing in the sportsbetting game.

 

[jjgold]

tech glitches?

Robinhood is very antiquated software