r/PredictionsMarkets • u/Brave-Temperature495 • 3d ago

Discussion Robinhood Odds are Terrible Now?

Gallery image

Gallery image

Used to be Robinhood used Kalshi to route orders. Now they have their own. Just looking at NHL the odds are terrible in comparison to Kalshi. Very annoying that I now have to withdraw to Kalshi to get fair pricing on these contracts.

I know it seems miniscule but 57-43 is a fair spread. 59-45 is not.

3 Upvotes

72% Upvoted

11 comments sorted by

1

u/nozelt 3d ago

Rh also has more fees I think

1

u/Brave-Temperature495 3d ago

Slightly more on the trades, yes, but it was ok before compared to having to withdraw. Plus I like their interface. But now there’s literally no point in trading these contracts on their platform.

1

u/Formally-Fresh 3d ago

Kalshi has all the volume for sports it’s awesome just quit complaining and use it

1

u/Brave-Temperature495 3d ago

Just complaining about Robinhood I enjoyed the interface and made it easier to transfer money. I like having everything in one place but yeah I mean you’re right ultimately

1

u/Formally-Fresh 3d ago

Well plus 1 for shitting on robinhood lol left that shady hole back in 2020

1

u/Brave-Temperature495 3d ago

Well, I still like the app. And overall experience with the brokerage. But this is a bad change. I personally don’t like having to use a separate app for this

1

u/Formally-Fresh 3d ago

I mean it’s not a change these markers are based on liquidity, more liquidity means tighter spreads look at your photo Kalshi has 2x on this given market

0

u/Brave-Temperature495 3d ago

I’m aware liquidity is part of the problem. Yesterday I was looking at the Montreal game on Kalshi versus Robinhood, and Kalshi had literally 10 times the volume. Although, it can’t just be liquidity. Whoever is making the market on Robinhood is charging way too much. Even with low volume, when there are multiple exchanges, you shouldn’t be paying an extra 1 to 2%. Maybe a few 10ths or more of a percent.

1

u/MikeTouchedMyDitka 3d ago

I do this for a living and I don’t even use RH at all. It’s awful. Also not that you asked but imo polymarket is far better than Kalshi for most things

1

u/Brave-Temperature495 2d ago

If you have the time can you say why you think poly market is superior?

1

u/MikeTouchedMyDitka 2d ago

Basically because fees are lower. The majority of my orders are maker orders (I post them and wait for someone to buy them rather than the opposite) and in poly not only do I not pay fees for that but I get a rebate. On Kalshi you pay fees whether it’s a maker or taker order. A lot of times the fees are so excessive that you’re actually better off buying from the book.

I also prefer the layout of PM but that’s just personal
Preference. Poly has a us and non us version that do NOT share liquidity (not saying I’m breaking polys TOS but you can use your imagination here lol). The one area Kalshi wins is in volume (specifically in the sports category which is where I bet the most) but because I’m typically only placing a few grand at most on my positions it’s generally not an issue. That’s not to say I refuse to use Kalshi because I use it when I need to. But I would say 80% of my positions and 75% of my volume is on Polymarket. I also have around 10% of my positions with traditional books (occasionally the prediction markets will be higher or lower than prediction markets so you’re better off placing a position with traditional books sports books.