If betting on Polymarket, you would actually have to stump up that money first, and the other person would have to do the same with whatever bid they wanted to use. Then, in order to get any kind of reasonable payback, you would need thousands of other people to make a bet for or against, using their own money.
The payout isn’t on someone making a bet on themselves, no-one else would bet for or against that as the stakes are so small. The payout is on large-scale events that are - ostensibly - out of the control of the bettor or bettee.
Polymarket is no different than betting on the outcomes of horse races or sports games, it just opens up the thing being betted on to anything and everything. People will still bet. The key is how “un-rigged” it appears to be.
If betting on Polymarket, you would actually have to stump up that money first, and the other person would have to do the same with whatever bid they wanted to use. Then, in order to get any kind of reasonable payback, you would need thousands of other people to make a bet for or against, using their own money.
The payout isn’t on someone making a bet on themselves, no-one else would bet for or against that as the stakes are so small. The payout is on large-scale events that are - ostensibly - out of the control of the bettor or bettee.
Polymarket is no different than betting on the outcomes of horse races or sports games, it just opens up the thing being betted on to anything and everything. People will still bet. The key is how “un-rigged” it appears to be.
Oh, so I can post a bet on anything. And the game only starts when somebody picks up the other side: betting against my prediction.