Betting on The Presidential Election With Robinhood???

[@Illegiblescream]

I love how honest Robinhood is becoming about being a gambling hall for internet degenerates.

[@p6shilpareddy]

1 bet = 1 contract. Robinhood gets 1 cent per contract. Thats how they’ll make money.

[@mastons]

Robinhood holds the money till January and earns intrest on that

[@BrendanEvan]

Yeah that plus the 1 cent per contract

[@ChrisCollinsworthMusic]

Yeah, there was over $400 million. That was bet on both sides total so they’re definitely making a shit load of interest and they’re probably investing that making money off of us.

[@joseramos6714]

Do we get money if our candidate won if we sell before January 8?

[@michaelyoung2188]

This may be the start of RH starting to actually trade commodities. Next year, you may be able to buy gold, silver, wheat, sugar, hogs, etc.

[@robertmallon4794]

@@michaelyoung2188 I'm in ny and it showed up in my app

[@AaronJohnson-ls4bu]

Google Robinhood futures. It's close.

[@_odo]

@michaelyoung2188 Commodities seems like a stretch, but it could be the start of Robinhood going into prediction markets. Like Manifold Markets but it real money instead of Monopoly money.

[@ryanpena3342]

Hogs lol

[@ChrisCollinsworthMusic]

If you win, do wait till we get paid or do we close out the contracts and then get paid January 7 or do you just wait and keep all the contracts?

[@ChrisCollinsworthMusic]

They’re definitely making money off of all the interest of the $400 million till January 7. That’s why the commission fee was only 1 cent for each transaction and if you sell now even though Trump won, you’re selling it for $.98 not a full dollar which that can add up if you have thousands of contracts

[@slushthevillian6341]

So I bought 3,000 trumps @ 0.60 Now what? I keep getting an event contract statement daily. Does that mean I’m getting a fee daily? Do I need to sell now? Or do I hold until payday?

[@ds370z]

@@slushthevillian6341 curious to

[@hondamidnighter]

So do I close out my position ? Before January?

[@Zhello79]

@@hondamidnighter wondering the same thing.

[@raph3054]

This was cool but my reluctance to making these trades comes from a lack of knowledge around the tax implications. If I made a bigger bet, what sort of things should I be cautious about when making this bet? Tax wise?

[@DifferenTimee]

What happens if i close my position before the election ?

[@THE_MANGA_KING]

@@DifferenTimee actually nun but u won’t get ur money back right away it’ll take hella time to process

[@ds370z]

@@THE_MANGA_KINGwhy would it take so long?

[@Scottyh1110]

@@ds370z my Guess is if something odd happens on Jan 6 and the vote doesn’t reflect circumstances Robin Hood still is covered.

[@abbyboyer419]

Super informative, thank you! I was super hesitant on the process but I'm a little more confident in how it works after watching this

[@KC-Shinobi]

At the moment of this video 43 cents per contract for Kamala, 57 cents per contract for Trump. Each contract pays $1 depending on who wins, but youll still owe for the contracts.

[@JuanLopez-vb3rk]

I want to say that the way I understood it is like this. whoever wins will take the other side's money and that is how they'll have liquidity to pay people out. For example if Donald Trump wins and say he had 65¢ per contract. Than the 36¢ that kamla had will go to donald trump contract or vise versa and that is how you get the $1.01 price.

[@_odo]

This is correct.

[@jackmehoff1997]

So do we have to close our options? Or do we let them expire?

[@everettedennis2573]

That’s my question 🤔

[@CDelly]

Same

[@ChrisCollinsworthMusic]

Me too

[@jackmehoff1997]

Someone take the hit and let us know😂

[@ToooCleann]

Same I closed and hit review and it said At the bottom Donald no I’m hoping it pays out Jan 6 since I won the initial bet but closed position early. Im worried now lol

[@gibfkn]

It means if you spent 58 cents to bet on Trump and your complete payout is 1 dollar if he wins. So your net profit is 42 cents!

[@TrishLuv]

The pricing is like that because she’s the underdog so the pricing is low and the return is more. President Trump was already president so his price is high and return is low .

[@paultran1042]

I put down 2k for trump for 3000 contract for paying out $1 each but only get $1k at the end January 7 today I thought we get 3k and 2k back ….?

[@armando4509]

I closed my position on trump when or will I still get paid?

[@ToooCleann]

I did the same but I’m worried cause when I swiped to review it said Donald no at bottom of screen I’m worried I lost it now?

[@armando4509]

1 I hope I didn’t lose out on the money 2 I hope it pays out soon …. Show I got money but 0 buying power

[@ToooCleann]

@ same it should I mean we bought for trump to win and so far he’s won. Just that last picture it did when closing worried me lmao

[@wbwillie.]

@@ToooCleann Have you gotten paid yet? I also did the same.

[@ToooCleann]

@ yea just today after closing 1 day ago

[@1848432]

Got 100k on trump let’s go because I’m buying a nice Tesla when he wins 😎

[@jimbob9086]

Bookmarking this to see a grown man cry about the election being stolen 😂

[@Alkelly-hh6rv]

@@1848432 so you are betting against both the Bible prophecy and the American university professor with a 40 year 100% accuracy. You have time to change your mind.

[@1848432]

@ he’s winning 🏅

[@1848432]

@@jimbob9086 he won brother and I Just bought my new tesla.

[@btlv]

@@jimbob9086 he's crying of joy.

[@Ray-xw4nx]

I literally got paid today I bet $7,920 and got back $80 I thought I was getting $8k back lol.

[@shaynejohnson6647]

I found the answer to the meaning of the pricing that you asked about. If you select the info icon to the right of the "2024 presidential election" title it explains that the amount is equivalent to the % probability of that candidate winning.

[@BrendanEvan]

Ahhh thank you!

[@Luxumper]

Can you make a video how to withdraw money after we win 🏆 please? We see messages from Robinhood that the payout is available, but we don’t know how to cash it out? Please help!

[@BrendanEvan]

I don’t know how either but thought it wouldn’t be released until later? Just googled it and the payout date is tomorrow Jan 8

[@cashoption2319]

Wasn't on my app

[@anthonychum9999]

So we just hold until Jan and then we'll see if lose or win? I bought Yes for Trump

[@JohnnyGutierrez-um6nt]

It was 600 for 1500 payout when it started 🎉 I didn’t see a limit

[@guillermohernandezjr9906]

@@JohnnyGutierrez-um6nt did you close out yet ?

[@Native722]

Can we but on other things elections related on Robinhood?

[@AC313_]

@@Native722 we need sports on it next

[@chillier1utube]

I don’t know how this can be legal. Couldn’t someone with a lot of money tip the scales of the election by doing this.

[@BrendanEvan]

Thankfully the election isn't determined through betting on Robinhood, so no, not in this way at least

[@reghuml]

u pay more for the candidate that is ahead so your return is less . your reurn is always less when u bet on the favorite. but i dont understand the numbers under their names

[@shaynejohnson6647]

that is the number of open contracts people are holding for the Yes. Rightfully so, it would be expected the lower priced to have more open contracts. If I have $50 to gamble I can either get 87 contracts for trump at .57 cents or 113 contracts for Harris at .44 cents.

[@jthomascruz4890]

This whole thing was kind of strange to me when I saw it on my RH app. I wonder if they will continue to do these with other events like say .... Superbowl??? I already cast my vote.

[@Luvshortvideo]

Not everyone allow to bet for presidential in robbin hood app

[@yitz6025]

My robinhood doesn’t have it for some reason

[@ryanpena3342]

You may need to enable options trading. (and it's only on the app not the web browser)

[@yitz6025]

@ryanpena3342 thanks for your reply! I'm on the app, I enabled options and still don't see it for some odd reason.

[@yitz6025]

Nvm I just needed to update the app to see it

[@exiflycarz]

i updated mine but it says i’m not eligible to buy ? this happened to you too or

[@yitz6025]

@@exiflycarz no it probably depends on what you fill out when they ask all the questions like how experienced you are and income etc

[@JohnnyGutierrez-um6nt]

You gotta have buying power link your chime card and deposit money I bought example 234 contracts for 52 cents each I think it was like 90 bucks if I close out my position I get 210 payout is on Jan 9th and 234 is my payout just playing with it

[@JohnnyGutierrez-um6nt]

@ you bought late you had to buy when it first started now trump contracts were 94 c and Harris 6 cents

[@Constitution1789]

I put 50,000 on Trump. 😅

[@dakattackgoesham]

No sweat best choice of ya life

[@thewhitefox869]

Good chances on doubling your money 😅

[@brysondenkenberger4485]

I got $5,000 on trump myself

[@JoeBidenFanclub99]

@@Constitution1789 prove it.

[@andystieg6339]

I did waay more than that on trump in 2020

[@kuddygone]

At this moment its 3¢ for Kamala

[@Heyitspat]

Great explanation. Robinhood makes money from the spread - in a perfect world the yes or no would add up to $1. But it adds up to $1.01 thus the 0.01 is the profit that Robinhood takes because the payout is $1 per contract. 2:39

[@Heyitspat]

Thus they make essentially 1%

[@_odo]

@Heyitspat Closer to 2% because the contracts cost 50 cents on average, not a dollar.

[@JohnHart-y1o]

I got 10,000 on Don!

[@SarahSmith-xn5gz]

@@JohnHart-y1o wow!🚀🚀🚀

[@segaoldschoolsega925]

But can you make money out it how much just wondering if it’s worth it

[@ryanpena3342]

It's 58cents or 48cents to win a dollar. Depending on who you buy contracts on. Either way if you win it's a good return.

[@Bobert78]

I hope you lose $0.43 lol. JK but thanks for the video. 😊

[@segaoldschoolsega925]

So it’s pretty much double your money

[@_odo]

Only if you predict who wins correctly

[@RandomGuy-vo6zd]

I’m going to do the emotional hedge and bet on Kamala

[@jameslopez9661]

Same I'm just betting in hopes that more trumpers will bet on him

[@andystieg6339]

Same

[@MrThe1234guy]

Wait, that means you actually want Kamala?

[@RandomGuy-vo6zd]

@@MrThe1234guy no, I’m perfectly happy losing money if it means Trump wins , otherwise I at least get some money

[@Efficienado]

I am not getting verified

[@Samson7320]

Vote

[@dakattackgoesham]

Wow waste of .50 for Kamala… red LFG $800 in

[@daleybrennan9867]

Is this available in NY state? I couldn't find it in the app.

[@dakattackgoesham]

@@daleybrennan9867 yeah it is, just put $800 on red

[@aocking666]

update the app

[@daleybrennan9867]

@@aocking666 Turns out you have to be a US citizen.

[@rolandosouffrain7957]

Im hoping she will. I got $1k on the line. Lol🎉😂💪🏾💪🏾💪🏾🕺🏾🕺🏾🕺🏾

[@dijonwhite1862]

Didn’t end well did it? 😮‍💨🤣🤣

[@fineth9319]

Basically gambling. Lol

[@mortiarty7842]

13c-90c now

[@PaulCook67]

I bought 100 contracts on Harris at 42 cents.

[@Mirv063]

So then you get $1 per contract if she wins minus the 1 cent closing cost and 1 cent commission if you don't opt before Nov 5?

[@RobertUrsery]

I betted 1k on Trump wish me luck . Bought for 54 cent

[@OZZVALL]

@@RobertUrsery best of luck to you sir

[@brandonm.6752]

whats the payout

[@RobertUrsery]

@ $2,000

[@OZZVALL]

@@RobertUrsery no your profit is around 400

[@geodude7116]

Sorry bro he won't win.

[@Theos_Guns]

Trump 2024!!

[@itzsrayg5851]

So if you close position when the price is higher u get more money?

[@BrendanEvan]

No

[@dannyc2261]

You will lose

[@sfjwr]

Why does it say I’m not eligible to buy?

[@BrendanEvan]

No clue my man

[@exiflycarz]

same here, u figured it out yet ?

[@sandmansleeps]

Enable options trading Us citizen

[@huMmmiiiI]

I'm not a us citizen and betted yes for Trump and he won. So will i be able to make money?

[@samyguindy3457]

I bet on Trump 2024 hopefully I don't lose lol I bought 5,000 contracts lol

[@MrThe1234guy]

I hope you don't lose for our children and our next 4 years.

[@geodude7116]

He will lose. All reliable indicators point that direction.

[@samyguindy3457]

@@geodude7116 hey if he loses he loses if he wins he wins I know one thing we will only have four more years of no dictatorship and then after Trump it's going to become very bad in this country they will start rounding up Christians after Trump gets out of office enjoy the last 4 years of freedom cuz you ain't going to have no more once Trump gets in that office for 4 years and he's out there is no more freedom

[@ppabon8854]

@@geodude7116 just like 2016 and 2020 when they overestimated Hillary and Joe's margins by massive amounts?

[@paulvalery9778]

@@ppabon8854 how are you going to use 2020 as an example when Trump literally lost that election?