Should runechat payout on election bets?

So I bet on Biden like a day or two before the election and as I was confident he'd win I bet most of the money I have on my main account. Anyway the results are in and they still haven't paid out due to lawsuits. As far as fine print, there doesn't seem to be any, just a button that says Biden and a button that says Trump. I suppose they can hold out until January 20th, but am I wrong here in thinking that it's kind of scummy? It's dxp, I could use that money. It's only like ~35B they have to pay out, if Trump had won they would have had to pay out many hundreds of billions.

Their staff gets REALLY upset when you bring this up, or make any case for why they should payout whatsoever. They told me the criteria they are using is that they will payout when major gambling sites payout, I then brought up that many states have paid out and asked them which sites haven't and they had no answer for which sites hadn't paid out. I don't think they have a clue.

 

If it’s the start of the fourth quarter and the team that you picked is winning 56-48 would you get your money then or after the game officially ended?

 

Ok well it's nothing like that lol, Trump can win every single lawsuit and he won't flip a single state, it's more like there's 2 seconds left and your team is up 904 at a soccer game.

Regardless they said they'd pay out when other sites do, but other sites have paid out as far as I'm aware of. And when pushed they can't actually name any sites they just threaten to mute you. Does this not seem pretty shitty to anyone else?

 

Don't deal with Runechat
I doubt they will pay out at all
And biden hasn't won yet

 

What bet sites have ever paid out before it is officially over? None. It isn’t official yet. You know the election is official when all votes have been counted and confirmed. It sounds like you need/want the money really bad and can’t so you are finding a way to complain.

 

https://www.casino.org/news/bets-paid-on-joe-biden-becoming-president-despite-election-unsettled/

 

so one company out of the whole gambling community paid out so you think runechat should pay you?

 

You said no sites had paid out, I prove that some have. And fuck yes I think runechat should payout this shit is over.

 

nothing should be payed out if there is any what ifs lmao. What if they pay out and then magically something happens and it flips which you nor I know for a FACT it will or won’t.. runechat pays you and then has to pay everyone else that bet for trump. They won’t risk that. Especially a company that doesn’t make as much money as big time bet sites that can afford that. Think logically/economically. Not selfish/opinionated.

 

I think a lot of betting sites are struggling with this issue. They are worried about the risk that the election gets overturned in court. It's hard to quantify that risk. FTX has a token for Trump being President in February and up until a few days ago it was 0.16+ (16%). Now it's fallen a bit, but it's still 0.097. That's pretty significant. They don't want to pay out the Biden bets and then also be on the hook for the Trump bets if it's overturned.

FTX

So yeah, tricky spot here, I suspect the real probability of Trump winning this election is below 1%. But I don't believe it enough to bother buying those TRUMPFEB tokens on FTX.

I think in the future there should be a more clear win condition. For example, you could say that the outcome depends on the Associated Press calling a winner of the race.

 

Yes I agree, more clear win conditions are needed, eliminates the risk on their part and any frustration on ours. At any rate, RC paid out so I'm happy.