🚫 Interactive Brokers is facing challenges in offering political betting in Europe.
🤔 The CEO believes this market could rival securities in volume in the future.
📈 The company is considering entering the political betting market, viewing it as a significant opportunity.
@Academiadeinversion:
“And by the way, others, uh, themes of this month is that I tried to take advantage of the bets in Interactive Brokers, which was a pity. Yes, Adrian, the issue that now in Interactive Brokers, they allow political bets, but it seems that in Europe, no, seriously, no, because I asked for the permits. So when I saw that it was clear that Trump could win, that it was very clear, and they were still paying two to one, but well, if you know a little bit of Bayesian statistics, you saw that they would have to pay, I don’t know, at least 10 to one or 20 to one. It was already very clear, and they were only paying two to one, that is, they were paying a lot. You were earning a profitability of 50% in a few hours when it was almost certain that Trump was going to win, and they wouldn’t let me. I asked for the permits, and well, the Interactive Brokers, we are thinking about it, that is, we are processing it, better said. And what happened? Well, to this day, the permits still haven’t arrived, and I think that for Europe, they don’t give these permits to do operations. In the end, it is almost a betting market, but well, the typical thing in Europe. I don’t know if you know, the CEO of IB, and it’s not a joke, they told me the other day, said, uh, the Hungarian, yes, the family, uh, the CEO said that he believes that within several, several years, I don’t remember if he said 20 or I don’t remember how many years he said that he believes that the market, that is, that they are going to get fully involved in this, because he thinks that it can be a market equivalent to securities in volume of of money. So it would surprise me. IB is going to bet very strongly on this, because they truly believe that it can be a boom of more than 10, 15 years, that it can have an, that is, an authentic barbarity, that is, of moving money like many exchange of actions. Yes, because in the end it is the betting market, that is, it has a market that already exists, what happens is that it is like cornered, because it seems that it is a broker, but in the end they are bets. It is something similar to bet fair, is what it does, that instead of being you who creates the bets, you act as an intermediary between the parties, which makes a lot of sense. Yes, and you can buy and sell, that is, get out. Normally, many bets, traditionally, you bet, and that’s it, and from there, what is being done now more and more, which before was not like that, was that you can do a little trading, and that is that you can buy and sell the bet according to how the quota fluctuates, which was not common before.”
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