Aggroed was in the GLX Discord on Tuesday to further explain how the rewards will work for Prime Pick, the upcoming sports prediction platform built on the GLS ecosystem. This has been in the works for many months but it seems like it's about to be released soon.
The peculiar thing about this system is that unlike traditional sports betting, in which both options are given different odds based on the likelihood of different scenarios, in Prime Pick the pot for a question gets split between all the winners of the question. This can lead to a scenario in which one particular question has 25% of the stake voting for one option, and 75% for the next. This incentivizes the next person to vote for the least popular option, because he stands to win 3x the amount if he wins, as opposed to voting for the option with 75% of the stake. This removes the need for an expert to manually assign odds to each question, and simply lets the chips fall where they may.
We should see different strategies emerge with regards to voting. Are you going to vote for the teams you think are going to win, or the teams that pay you more if THEY win? This should create an interesting dynamic, different from traditional sports betting. Some people may systematically vote for the least popular options, and they might be the most successful in the long run.
One aspect that isn't clear from Aggy's post is wether we can vote on every question with full power, or will the power get divided as with Hive posts. The former would encourage us to vote on every available question, while the latter would force us to be more selective.
This is the current GLX staking rich list courtesy of Moenke's site. I am currently the third biggest staker but things have picked up behind me. Will we see some big moves here ahead of the release of Prime Pick? Who will show their enthusiasm for sports predictions and go all in on GLX at this time? My stake is worth just over 1000$, but we have some rich people in this ecosystem that could easily move the needle here. It will be fun if there are any fireworks at all when this goes live. Are you ready for the summer of GLS? I would love to see it.
