Fanduel West Virginia approved for US Election

**johnnyvegas13** · 04-07-20, 07:57 PM

Sayyyy whattttt

I thought politics strictly forbidden

**johnnyvegas13** · 04-07-20, 08:02 PM

Pretty good odds trump -110

Hope other legal states follow

**jjgold** · 04-07-20, 08:11 PM

I think eventually it’ll be everything all types of elections too much money involved

**johnnyvegas13** · 04-07-20, 08:13 PM

Originally posted by jjgold

I think eventually it’ll be everything all types of elections too much money involved

US election could get superbowl type action if legal

**jjgold** · 04-07-20, 09:16 PM

Odds pulled already

Wtf???

**johnnyvegas13** · 04-08-20, 10:00 AM

Originally posted by jjgold

Odds pulled already

Wtf???

They launched then halted

Says state wants more info

B nice to have this nation wide before elections

**johnnyvegas13** · 04-08-20, 10:01 AM

Actually the West Virginia lottery blocking it

Wired story

**johnnyvegas13** · 04-08-20, 11:10 AM

I wanna go all in on trump now

Hopefully they can get this passed by November

**trytrytry** · 04-08-20, 11:14 AM

what? late april fools? wow

**jjgold** · 04-08-20, 11:34 AM

unreal
THey must of got hammered with TRUMP BETS

**johnnyvegas13** · 04-08-20, 11:36 AM

Originally posted by jjgold

unreal
THey must of got hammered with TRUMP BETS

Ya it was -110

I really hope I can get this

**jjgold** · 04-08-20, 05:40 PM

They will never offer it again

**johnnyvegas13** · 04-09-20, 09:24 AM

Originally posted by jjgold

They will never offer it again

They will

If it was that bad they wouldn't of offered it to begin w

**asiagambler** · 04-09-20, 09:55 AM

How are they going to offer Trump at just -110 in one of the reddest states in the country?? That's just bad bookmaking

**jjgold** · 04-09-20, 09:58 AM

I would think trumps going to be -180 when it comes out again

**johnnyvegas13** · 04-09-20, 10:01 AM

Originally posted by jjgold

I would think trumps going to be -180 when it comes out again

It's -130 offshore

**CanuckG** · 04-09-20, 10:31 AM

It will be up again

**MeanPeopleSuck** · 04-09-20, 02:10 PM

Originally posted by CanuckG

First time ever in the us regulated market you can bet on an election. Who will be the next state?

Solid info, hadn't seen that. Thanks, Canuck.

**MeanPeopleSuck** · 04-09-20, 02:30 PM

Originally posted by trytrytry

what? late april fools? wow

Howdy, TTT. If you're looking to bet on absolutely ANYTHING political, here's one stop shopping: https://www.predictit.org/markets

Predictit's an exchange style, legal betting site with hundreds of political markets. The PI community's pretty sharp, but True Believerism always distorts some markets, making them easy kills. Case in point: as I type this Joe Biden's price in the "Who will be the Democratic Nominee?" market remains .86 a share (winning shares cash at $1). You're basically getting a -600 bet he won't die before August.

**eaglesfan371** · 04-09-20, 02:47 PM

Originally posted by MeanPeopleSuck

Howdy, TTT. If you're looking to bet on absolutely ANYTHING political, here's one stop shopping: https://www.predictit.org/markets

Predictit's an exchange style, legal betting site with hundreds of political markets. The PI community's pretty sharp, but True Believerism always distorts some markets, making them easy kills. Case in point: as I type this Joe Biden's price in the "Who will be the Democratic Nominee?" market remains .86 a share (winning shares cash at $1). You're basically getting a -600 bet he won't die before August.

Not worth all the crappy fees they make you pay.

10% fee on winnings. 5% withdrawal fee.

Current price of 87 cents, $87 deposit becomes $93.77 withdrawal.

**MeanPeopleSuck** · 04-09-20, 03:41 PM

Originally posted by eaglesfan371

Not worth all the crappy fees they make you pay.

10% fee on winnings. 5% withdrawal fee.

Current price of 87 cents, $87 deposit becomes $93.77 withdrawal.

I've never quite understood the complaint about the 10% "winners tax." That fee -- 5% of the total transaction -- is exactly identical to the juice a sportsbook makes when two players bet on opposite sides of -110 lines. Sportsbooks make the losers pay the 5%, PI makes the winners pay it.

You're definitely right the 5% payout fee blows, but it's only applied to actual withdrawals, not every winning bet you make the way you applied it in your hypothetical (unless you literally planned on depositing, making one and only one bet, then withdrawing.) You'd walk away from your bet with $98.70, not $93.77

If we apply a 10 times rollover to your hypothetical $87 deposit and assume you break even, then the $4.93 fee applied to your $98.70 withdrawal represents about a 1.13% tax on your $435 in total winnings. Add that to PI's normal 5% fees and it's just a sportsbook with roughly -112 lines instead of -110.