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  • Betting Exchanges: Good or Bad?

    Posted by Jonathan on December 15th, 2005 (All posts by )

    Opposing views.

    As usual, the guy whose industry is getting hurt by competition says competition is bad.

    (via Chris Masse)

     

    2 Responses to “Betting Exchanges: Good or Bad?”

    1. Half Sigma Says:

      I’m in favor of any method that lets smart people make money at the expense of stupid people.

      It’s not much different than betting on horses, which has been legal in the U.S. for a very long time and hasn’t caused widespread corruption of society.

    2. Jonathan Says:

      I don’t see any customers complaining, only competitors — bookmakers in the UK, regulated trading exchanges in the USA. Their defenses of their high-fee business models are always the same: they are more responsible, the upstart competitors are more subject to corruption, etc., etc. It’s always the same batch of self-serving rationalizations.