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Joined 1 year ago
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Cake day: September 30th, 2023

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  • As I understand it these are basically an insurance policy. The promoter takes out a policy detailing the odds of a payout being required, and pay a premium based on the insurer’s risk assessment.

    And of course the insurer wants to minimise the odds of paying out, and the promoter wants to minimise their premium - so the top prize is usually, as above, near-unwinnable.