Parimutuel betting, not sure - but there is always a house fee - that's how the house makes money.
A traditional bookie would have at least 5 to 10 % built into his odds as well (like if you were betting on even odds, liek a coin toss, it would be bet $110 to win $100 for either side (so the bookie has a 5% hold if he can keep the betting balanced, no matter who wins)
Comments
"After 9.10% House Fees Deducted"
Isn't that a little high?
It depends on when you place the bet.
(http://www.futureblock.com/how-it-works)
Well.... not really.
Parimutuel betting, not sure - but there is always a house fee - that's how the house makes money.
A traditional bookie would have at least 5 to 10 % built into his odds as well (like if you were betting on even odds, liek a coin toss, it would be bet $110 to win $100 for either side (so the bookie has a 5% hold if he can keep the betting balanced, no matter who wins)
etc etc.
In this case, there is 0% fee if you bet when the round opens.
I think the bootstrapping is worth more than getting an initial basefee, since it'll likely bring more players, making it worth it towards the end.