Market Making & Betting Games Interview Questions
Market-making questions probe how you quote, manage inventory, and reason about edge and adverse selection. These betting-game scenarios mirror what trading desks actually test.
This area covers two-sided quoting, inventory management, betting games, and the edge-versus-adverse-selection trade-offs that trading desks test in practice.
The recurring theme is acting under uncertainty: you must price confidently, update on new information, and avoid getting picked off by a better-informed counterparty.
51 market making & betting games questions · 28 free to practise now.
By format:Market MakerHedge Fund QuantNumerical Reasoning TestsTrading Aptitude TestsBetting Game RoundsProp TradingSystematic & Data-Driven TradingOptions TradingETF Trading
- Backing out a parlay's hidden leg probabilityEasyProbabilityMarket Making & Betting GamesView →
- Break-even uninformed fraction against pick-offsEasyMarket Making & Betting GamesView →
- Expected profit on a scratch ticketEasyExpected ValueMarket Making & Betting GamesView →
- Fair mid on a dice product that voids on doublesEasyProbabilityExpected ValueView →
- Fair odds on a parlayEasyMarket Making & Betting GamesView →
- Fair price for the higher of two diceEasyExpected ValueMarket Making & Betting GamesView →
- Fair price of a dice-product gameEasyExpected ValueMarket Making & Betting GamesView →
- Fair price of a die that rerolls on a sixEasyExpected ValueMarket Making & Betting GamesView →
- Fair price of a heads-majority betEasyProbabilityExpected ValueView →
- Fair price of a high-faces-only dice sumEasyExpected ValueMarket Making & Betting GamesView →
- Fair price of a higher-die contractEasyExpected ValueMarket Making & Betting GamesView →
- Fair price of a sum-divisible-by-three betEasyExpected ValueMarket Making & Betting GamesView →
- How many rolls to make the 6-bet favorableEasyProbabilityMarket Making & Betting GamesView →
- The costliest roulette bet on the tableEasyProbabilityExpected ValueView →
- Which side of a two-sided marketEasyExpected ValueMarket Making & Betting GamesView →
- Capturing the spreadMediumMarket Making & Betting GamesView →
- Coin-pile NimMediumBrainteasersMarket Making & Betting GamesView →
- Guess 2/3 of the averageMediumMarket Making & Betting GamesView →
- Kelly sizing on an asymmetric betMediumMarket Making & Betting GamesView →
- Locking a profit by hedging after the odds moveMediumExpected ValueMarket Making & Betting GamesView →
- Matching penniesMediumMarket Making & Betting GamesView →
- Pay to play with a capMediumExpected ValueMarket Making & Betting GamesView →
- Pricing the higher of two diceMediumExpected ValueMarket Making & Betting GamesView →
- Sizing a cross-book arbitrage lockMediumMarket Making & Betting GamesView →
- Width of a market under uncertaintyMediumMarket Making & Betting GamesStatisticsView →
- Winner's curseMediumMarket Making & Betting GamesView →
- Pirate gameHardMarket Making & Betting GamesView →
- The reroll advantage in a die duelHardProbabilityMarket Making & Betting GamesView →
- Adverse selection in quotingMediumMarket Making & Betting Games Premium
- Backing out a margin-free probabilityMediumMarket Making & Betting Games Premium
- Backing out the informed flow from imbalanceMediumMarket Making & Betting Games Premium
- Break-even fill quality for a resting bidMediumMarket Making & Betting Games Premium
- Break-even half-spread from toxic flowMediumProbabilityExpected Value Premium
- Break-even half-spread under adverse selectionMediumExpected ValueMarket Making & Betting Games Premium
- Expected revenue of a Vickrey auctionMediumProbabilityExpected Value Premium
- Fair price of a die with one re-rollMediumExpected ValueMarket Making & Betting Games Premium
- Fair value after an informed buyMediumConditional Probability & ExpectationMarket Making & Betting Games Premium
- Fair value after two informed buysMediumMarket Making & Betting Games Premium
- Inventory skewMediumMarket Making & Betting Games Premium
- Inventory-skewed reservation priceMediumMarket Making & Betting Games Premium
- Minimum defense frequency against a betMediumProbabilityExpected Value Premium
- Optimal bid-ask placementMediumMarket Making & Betting Games Premium
- Optimal quote widthMediumMarket Making & Betting Games Premium
- Pricing a squared payoffMediumExpected ValueMarket Making & Betting Games Premium
- Reading order flowMediumMarket Making & Betting Games Premium
- Second-price auction strategyMediumProbabilityMarket Making & Betting Games Premium
- The St. Petersburg paradoxMediumExpected ValueMarket Making & Betting Games Premium
- The winner's curse in a bid warMediumMarket Making & Betting Games Premium
- Bluffing frequency in pokerHardProbabilityExpected Value Premium
- Deriving the first-price shading factorHardProbabilityExpected Value Premium
- The all-pay auctionHardProbabilityExpected Value Premium
Related guides
Master market making & betting games for quant interviews
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Frequently asked questions
- What is a market-making interview question?
- You're asked to quote a two-sided market (a bid and an ask) on some uncertain quantity, then trade and update as information arrives. It tests pricing, spread-setting, and how you handle being on the wrong side.
- How do I prepare for market-making and betting-game questions?
- Practise quoting tight-but-safe markets and reasoning about expected value and adverse selection. NeetQuant's Make a Market and Take the Bet games simulate quoting and betting against a counterparty under time pressure.
- Do I need trading experience to answer these?
- No - interviewers expect sound EV reasoning and risk awareness, not prior desk experience. Showing you understand spread, edge, and information asymmetry is what counts.