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Predictit swing state markets are trending TRUMP

Posted on 10/19/20 at 8:07 am
Posted by TakingStock
Member since Jun 2009
6090 posts
Posted on 10/19/20 at 8:07 am
While TRUMP hasn't budged nationally much on Predictit, I have noticed a move towards TRUMP on the swing state side. He was around low 60s to win Ohio and is now 67, Biden was around 58 to win Florida and is now down to 51, and similar things are happening in Wisconsin, Michigan, Nevada, and Arizona even though Biden is still "favored" to win all of those.

I anticipate further tightening over the next week and even though I'm a novice to using Predictit, for anyone with strong convictions on this election it looks like there is money to be made. I'm already up 25% since I started a week ago.
Posted by nugget
Mostly Peaceful Poster
Member since Dec 2009
13814 posts
Posted on 10/19/20 at 8:13 am to
How easy is it to withdraw and add money? How are you taxed on it?
Posted by Jake88
Member since Apr 2005
68047 posts
Posted on 10/19/20 at 8:15 am to
Imagine that, a bunch of degenerate gamblers follow media polls. Big surprise.
Posted by AndyCBR
Baton Rouge, LA
Member since Nov 2012
7542 posts
Posted on 10/19/20 at 8:22 am to
5% flat fee for withdrawals
10% fee on profits
You’ll get a 1099 MISC to claim on your taxes as gambling winnings.

With all of that said It’s still a winning deal if you bet on Trump and he wins as it is paying 2-3x your bet depending on the market.

You’re also limited to a max of $850 investment in any one market.
Posted by boomtown143
Merica
Member since May 2019
6681 posts
Posted on 10/19/20 at 8:27 am to
yep!

I'm going to make a lot of money when Trump wins!
Posted by saints5021
Louisiana
Member since Jul 2010
17452 posts
Posted on 10/19/20 at 9:07 am to
funny how the polls and betting markets are all tightening, as we all have been saying for months.
Posted by idlewatcher
County Jail
Member since Jan 2012
78922 posts
Posted on 10/19/20 at 9:48 am to
quote:

funny how the polls and betting markets are all tightening, as we all have been saying for months.


All those clown outfits trying to protect their behinds is why.
Posted by Turbeauxdog
Member since Aug 2004
23154 posts
Posted on 10/19/20 at 9:49 am to
quote:

5% flat fee for withdrawals
10% fee on profits


15 percent juice.

The mobsters aren’t just in vegas.
Posted by ChexMix
Taste the Deliciousness
Member since Apr 2014
24770 posts
Posted on 10/19/20 at 9:49 am to
quote:

5% flat fee for withdrawals
10% fee on profits
You’ll get a 1099 MISC to claim on your taxes as gambling winnings.

With all of that said It’s still a winning deal if you bet on Trump and he wins as it is paying 2-3x your bet depending on the market.

You’re also limited to a max of $850 investment in any one market.
do i have to sell my contracts to another buyer or do i automatically win my bet when the election is over?
Posted by boomtown143
Merica
Member since May 2019
6681 posts
Posted on 10/19/20 at 9:50 am to
quote:

do i have to sell my contracts to another buyer or do i automatically win my bet when the election is over?


automatically win
Posted by AndyCBR
Baton Rouge, LA
Member since Nov 2012
7542 posts
Posted on 10/19/20 at 8:20 pm to
quote:

15 percent juice.

The mobsters aren’t just in vegas.



Not quite 15% as the 10% fee is only on the profits (not your initial bet).

With that said the fees are high. Many have bitched that the withdrawal fees should be a flat fee instead of a percentage.

Posted by pensacola
pensacola
Member since Sep 2005
4627 posts
Posted on 10/19/20 at 8:24 pm to
Odds are still 66% Biden on PaddyPower
Posted by AndyCBR
Baton Rouge, LA
Member since Nov 2012
7542 posts
Posted on 10/19/20 at 8:25 pm to
quote:

do i have to sell my contracts to another buyer or do i automatically win my bet when the election is over?




It remains to be seen what Predictit uses to determine the winner. It is up to their sole discretion and their decision is final.

Wondering what happens if the results of the election are in question. Hoping a landslide for Trump puts the issue to rest on election night.
Posted by AndyCBR
Baton Rouge, LA
Member since Nov 2012
7542 posts
Posted on 10/19/20 at 8:27 pm to
quote:

Odds are still 66% Biden on PaddyPower



There is another poster on this site who claims to have cashed in on Trump +600 in 2016.

This post was edited on 10/19/20 at 8:28 pm
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