📈 THE EXCHANGE
the line is whatever the room is willing to pay for it
No markets open yet
These open once there is enough football to price. The award markets —
MVP, Offensive and Defensive Player of the Year, both Rookies of the Year,
Coach of the Year — wait for the MVP board, and the Super Bowl market
waits until four teams have three games each — pricing a season off two weeks is how a market gets a
reputation for being free money.
The rules, in full. A price is a chance: 34¢
means the room thinks 34%. One share pays one coin if it comes in,
nothing if it does not, so 34,000 at 34¢ becomes 100,000 if you are right.
Every bet moves the line — a big one moves it
while you are still buying, so you get a worse average than the price on the
button. That is not a fee, it is the market. Sell whenever you like before it
settles. The house keeps 4¢ on the dollar on a buy and nothing on
a sell, minimum 100, and nothing pays more than
200× because that is what the bank will settle.