From Professor Parlay
Subject Kevin made 40 Bitcoin bets before lunch
Class, sit down. Kevin, phone in the basket.
Kalshi opens a new Bitcoin bet every 15 minutes. Up or down. That's 96 a day. Kevin found them at 8 AM. By noon he'd made 40 bets at five bucks each.
Is it a coin flip? Somebody checked 200 of these in a row, September 4 to 6. 98 went up. 102 went down.
Kevin says he has a feel for it. So does every guy at the roulette table writing down numbers.
What does the flip cost? At 50 cents, Kalshi's fee runs about 3.5% of what you put down. On five bucks, that's 18 cents. You wouldn't notice 18 cents. Neither did Kevin. He did it 40 times.
He went 20 and 20. He broke even. He's down $7.20.
Write that down: a coin flip with a fee is paying a cover charge to stand in your own kitchen.




