"It wasn't hard to guess: you just had to look at every other country where it was allowed, not least the UK. But perhaps few would have bet on (sorry) this resulting in a situation seven years later where bots were making small fortunes betting on online video games. One such bot, named TeemuTeemuTeemu, has made $230,000 in just five months gambling via Polymarket on games like Counter-Strike, Dota 2 and League of Legends."
"As noticed by X user ArchiveExplorer, the bot has made the majority of this money in the last three months, making observations of live games faster than any human could, and getting its bets in before the market can react to events in games. As such, it's able to get bets in at far lower or higher odds than humans trying to react to in-game kills or objectives, and thus to game the market for maximum profit."
U.S. gambling liberalization since 2018 coincided with the rise of automated trading on crypto prediction markets. A bot named TeemuTeemuTeemu earned about $230,000 in five months by focusing on esports markets such as League of Legends, Dota 2 and Counter-Strike. The bot parses live streams and official data faster than humans and places bets before markets adjust, capturing favorable odds. The strategy uses many high-frequency, low-margin wagers—over 1,100 bets ranging from about $200 to $20,000—with occasional large wins (the largest about $89,300). Polymarket operates as a crypto-based prediction market vulnerable to latency-driven exploitation.
Read at Kotaku
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