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22 hours agoNo, take a lottery for instance: many people play, almost no one wins. You can bet on “anything” on Polymarket, like when or where an event is going to take place, so most of the time you’re betting against the market. There’s probably plenty of bets where no one wins at all. Everyone betting could spontaneously agree that Punxsutawney Phil is going to see his shadow (unlikely I know, but if only 5 people are betting, it’s not that crazy), if he doesn’t, no one wins. Except the site.
When you’re betting on random bullshit and it’s possible for no one to win, the difference between that and a lottery is negligible.