6 ms·
"After 9.10% House Fees Deducted" Isn't that a little high?
by phogster 13y ago
"After 9.10% House Fees Deducted"
Isn't that a little high?
- goshakkk 13y agoIt depends on when you place the bet. > House Fees: To encourage betting early, house fees begin at 0% of your bet and increases linearly to 20% when the betting round closes. (http://www.futureblock.com/how-it-works http://www.futureblock.com/how-it-works)
- dedward 13y agoWell.... not really. Parimutuel betting, not sure - but there is always a house fee - that's how the house makes money. A traditional bookie would have at least 5 to 10 % built into his odds as well (like if you were betting on even odds, liek a coin toss, it would be bet $110 to win $100 for either side (so the bookie has a 5% hold if he can keep the betting balanced, no matter who wins) etc etc.
- bradysullivan 13y agoIn this case, there is 0% fee if you bet when the round opens.
- Systemic33 13y agoI think the bootstrapping is worth more than getting an initial basefee, since it'll likely bring more players, making it worth it towards the end.