BetFair: “Which of these parties will have more seats in the US Senate following the 2006 US Senate Elections?” - UPDATE FOLLOWING TODAY’S BETFAIR NOTICE TO TRADERS
Chris F. Masse November 9th, 2006
[This blog post replaces a deleted posting written after I have misread the BetFair statement. Sorry for the glitch.]
—
I thought of the problem (which I described in my previous blog post), over a good night, and my sentiment is that:
#1. It’s probably legitimate to group the Independents with the Democrats, since most political analysts and journalists do it. (See my previous blog post.)
#2. The prediction exchange should have informed the political speculators about that grouping —FROM DAY ONE, IN THE “RULES” TAB, NEARBY THE ORDER-ENTRY FORM FOR THIS PREDICTION MARKET.
#3. My observation (to be confirmed or infirmed by other bloggers) is that BetFair DID NOT put their traders on notice —FROM DAY ONE, IN THE “RULES” TAB, NEARBY THE ORDER-ENTRY FORM FOR THIS PREDICTION MARKET.
Rules
Win Only Market
For further information please see Rules & Regs.Which of these parties will have more seats in the US Senate following the 2006 US Senate Elections? At the stated time, this market will be turned in play with unmatched bets cancelled. Thereafter unmatched bets will not be cancelled by Betfair at any time. Dead Heat rules apply. Users should be aware they are NOT allowed to bet on this event if they are physically present in Austria or Germany.
UK wallet
#4. On its forum and on the “RULES” tab (located at the top-right corner of each individual prediction market view), BetFair HAS JUST INFORMED its customers (the traders) and consumers (the odds observers) that it DOES NOT intend to group the Independents with the Democrats.
Rules
Win Only Market
For further information please see Rules & Regs.Which of these parties will have more seats in the US Senate following the 2006 US Senate Elections? At the stated time, this market will be turned in play with unmatched bets cancelled. Thereafter unmatched bets will not be cancelled by Betfair at any time. Dead Heat rules apply. Users should be aware they are NOT allowed to bet on this event if they are physically present in Austria or Germany.
UK walletFor the purpose of this market, the following Senators will be treated as Independents and therefore will not be treated as either Democrats nor Republicans:
Joe Lieberman
Bernie Sanders10:11:53 (UKT) 9th November 2006
#5. Excellent decision. BetFair confirms its status as an ethical, top-notch prediction exchange.
