Are you a fan of Prop bets?
I stumbled upon this website Prediciti.org where you can bet on many political elections.
Its not a sustainable way to build wealth but definitely makes life fun when you have it!
Why would someone not just plow all their money into this bet? Bet on a Democrat nomination in Hawaii (a traditionally extremely blue state)?
Now I personally have not played on this site but another member in the Hui Deal Pipeline Club said:
“Ive made a few thousand playing around on the site. The issue is they limit each bet to a max $850 maximum action. So for the Hawaii democratic bet would only make $26. Which is $850 / .97 = $876. Whereas if by some miracle the Republican won you could make $21,250 ($850 / .04). The problem with the site is often the odds add up to well over 100%. Each bet has a binary outcome either yes or no. Typically the yes and no combination will be 105% or higher which is how the site makes money on the spread. If you are an insider or events where polling numbers are very inaccurate you can make decent money. An example is the general elections ever 4 years, etc. The value is likely on betting on the underdog at the time that you feel is priced wrong by the market. As an an example i had $850 for Biden to win election at like .15 when Bernie was a big favorite.”