"The vast majority" of horse bettors think they have an inside tip too.
The fundamentals are not with crypto, quite the opposite - it's viral...a trend. I mean Cumrocket has to be legit because of a Musk tweet, right? Many thought so...
The last part is true...timing is everything with every greater fool model.
The vast majority of "horse bettors" are degenerate gamblers. I have seen their betting patterns and accounts! You have a small number of fixed odds gamblers who are price sensitive who would win long term. Once they are identified they get their accounts restricted or closed.
The legit "insiders" are identified and allowed to hold winning accounts. Their bets help bookmakers set the market and bookmakers can adjust their liabilities or take a position accordingly. They are very careful about when they bet and how much so they don't upset the market, or give the game up too soon. I feel pretty certain we have stuff like this going on with BTC price.
No offence, but it's pretty obvious you know very little about gambling or crypto. That's a good thing to me though. It just means it's still early and plenty more money to be made still. Get out there and teach yourself!
