Just like the rake or the edge the house advantage of making the rules has always been the reality of betting. Online or offline. Forever. Get too successful and you’re no longer invited to bet.
Asymmetry of information has never been the bookmaker’s most powerful weapon. The book is.
Those who are successful at it accept this reality. They grumble and make peace with it - paying the super taxes and liquidising markets where they’re asked to.
Ultimately however, while it’s interesting to see how they do some of this (and there are plenty of practices not covered in the paper, I assure you) it’s a bit like complaining the DM won’t let you do something in dungeons and dragons - you’re dicing with the god of your domain so the rules can change at any minute.
Asymmetry of information has never been the bookmaker’s most powerful weapon. The book is.
Those who are successful at it accept this reality. They grumble and make peace with it - paying the super taxes and liquidising markets where they’re asked to.
Ultimately however, while it’s interesting to see how they do some of this (and there are plenty of practices not covered in the paper, I assure you) it’s a bit like complaining the DM won’t let you do something in dungeons and dragons - you’re dicing with the god of your domain so the rules can change at any minute.
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