So does that mean you can buy contracts even if you don’t have the money in your account to cover them?
On your initial investment you have to have the money to cover you risk, after that the No’s cover for each other since only one of them (at most) can lose.
So I could deposit another $850 and max no for GOP by 60-99, and it would let me max all the GOP no’s without depositing more? So I basically get to bet on margin because it knows I can only lose one?
Yes that is correct. It makes it worth it to deposit again since you are not only picking up the 7c per share on 60-99 GOP NO but also 3-4c on the other GOP No contracts as well
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If my math is right with current prices, using the same funds to bet NO on all “GOP by x” scenarios nets you 25% (before fees)
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This is awesome, thanks everyone!
Before I pick up some more free money. There’s no withdrawal limit after the 30 day initial period right?
Yep it’s basically a free $200. You can do the same thing in the Arizona/Georgia/Penn margin of victory markets although those are not quite as profitable
There is some limit I want to say like 10k/day or something
Thanks. That seems reasonable. Just loaded up 850$ to max the GOP no’s. After filling all of them i have 120$ in my account again. Any way to put those back into the market somehow? I assume that’s because the max liability in the market is 730$ with my positions?
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Likewise, I now have $733 to win $881. So converting to American odds, we just got Biden to win the election at -500. An election that has already taken place. With a known outcome. Wut.
Edit: correction, one of my buys hadn’t gone through yet. It’s actually $723 to win $906. Betting odds of -400!
Instructions for anyone jumping in late:
- deposit on PredictIt
- buy all the NOs for GOP winning the electoral college by X
- ???
- profit
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I just created an account. Oh boy.
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Ok, for a noob, how much should I be depositing if I want to max out those No’s? $850? I’ve seen people mention $730.
And should I be splitting it evenly or load up on the one with the best price?
Guess I’m depositing when I get to my computer lol. Just so I’m clear, I should buy $850 of one no market and then I can buy the rest of the no’s after that without adding more funds?
RE: your other question, I’m not sure. I depo’d 1k to splash some other markets too. I think 850, which is what my original purchase was. The refund came later.
So why wouldn’t I just buy “No” on Trump winning the popular vote at $0.93?
Surely there are better deals than that out there. Like Will Trump win any of Pennsylvania, Arizona or Georgia? is at .82 right now. I think most of the real deals have dried up if youi’re just getting in now.
Yeah, I’ll probably just sit out for such little profit. At least I have an account now for fun later.
Ok I got in on this. What an amazing find, thanks for sharing the details.
After depositing $850 and buying the max of each no share it looks like I have $723.94 invested with a max payout of $898.58, and $126 now back in my available balance.
Plus you guys need to look into the fees and whatnot before putting too much money on PI.