Fixed Odd betting

Discussion in 'Options' started by saturnine, Oct 3, 2008.

  1. It looks like doesn't take business from U.S. customers? Is this a legal thing or are there brokers here that offer similar services? Any suggestions?


  2. MTE


    It's a legal thing, or rather it is illegal in the US.
  3. bellman


    Looks like a cool site. Online betting should be legal in the US.

  4. Why is this illegal? Any reasonable way around this? Thanks.

  5. Not anymore, I am in the us and used to trade at B.O.M for a while but then I think when we had the port bill go through when we were opposed to saudi arabia owning our ports, so they thrw the gambling (online) being illegal overseas. And then made it pretty much imposssible to get money there or out. It used to be a grey area but now its impossible. But I am still trying to figure out ways!
  6. That's too bad. It seems very interesting to me and I would really like to try it out. No loopholes are known that allow us to use this or some service like it? geez...


  7. Yes, it is too bad. I looked into this too. The real advantage of spreadbetting is that you can trade with a very small bet size and this makes money management much easier. If you have too small of an account and too large of a position size, you'll lose no matter how good your system. To understand this intuitively, it helps to use an extreme example. Suppose you have a system that is 90% accurate but your account size is so small that you have to bet it all every time. You can see that 1/10 of the time you would lose everything on the first bet. And if you didn't and continued to bet it all, you'd likely lose everything soon anyway. This is what the Kelly criteria is about. It gives you an upper bound on bet size. If you bet more than the Kelly bet, you will actually make less than if you bet less. And I'd never want to come close to the Kelly boundary as it would provide a wild ride. Much more comfortable for me would be Kelly/100 or so. You need to find your own comfort zone.