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wasoxygen  ·  3082 days ago  ·  link  ·    ·  parent  ·  post: A New Hobby of Mine: PredictIt, a prediction market

    So if you have any money you'd like to see grow 11%

6344 shares of NO in "at least 370 GOP electoral votes" are available now at 89ยข. These would pay a dollar each by November 9. I have been avoiding such narrow margins, but you made me think again.

After the 10% fee the profit would be a dime per share, just over 11% in 64 days, equivalent to an annual rate of 64% if my math is right. That's not so bad, for an almost-sure bet....

But to make a respectable profit of $100, I would need to buy a thousand shares, staking $890. That is just over the limit of $850 per contract, and also well beyond my comfort zone. It makes me start imagining how things could go wrong ... what if Clinton has to drop out because of a health issue?

That's what I love about having something on the line. It makes me look for ways in which I could be wrong, taking the outside view. Looking for evidence that contradicts our expectations, rather than confirms them, is a difficult and essential aspect of good thinking.