Comments on: Most people don’t know how to trade. http://www.midasoracle.org/2007/02/04/most-people-don%e2%80%99t-know-how-to-trade/ Prediction Markets For All Thu, 08 Jan 2009 11:34:40 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Midas Oracle .ORG » Blog Archive » BetFair Education vs. BetFair Academy http://www.midasoracle.org/2007/02/04/most-people-don%e2%80%99t-know-how-to-trade/#comment-895 Midas Oracle .ORG » Blog Archive » BetFair Education vs. BetFair Academy Sun, 04 Feb 2007 22:53:58 +0000 http://www.midasoracle.org/2007/02/04/most-people-don%e2%80%99t-know-how-to-trade/#comment-895 [...] BetFair Education vs. BetFair Academy I looked into that, as I said. [...] [...] BetFair Education vs. BetFair Academy I looked into that, as I said. [...]

]]> By: Chris Masse http://www.midasoracle.org/2007/02/04/most-people-don%e2%80%99t-know-how-to-trade/#comment-891 Chris Masse Sun, 04 Feb 2007 09:37:14 +0000 http://www.midasoracle.org/2007/02/04/most-people-don%e2%80%99t-know-how-to-trade/#comment-891 Most males don't know how to use condoms. - Would you try to sell condoms to eunuchs? - Wouldn't you try to sell condoms to very sexually active males, first? Should a prediction market exchange/consultant invest time and financial resources into educating people to trade? Shouldn't they focus on market-friendly people, first? Do we really need ALL the people to go trading? Or do we need to satisfy fully THE active traders, within any group or population? Full traders' satisfaction = continuous focusing on: software usability + software innovation Would attending the newbies be a distraction in this pursuit? Citing BetFair again, it seems that they identified the sophisticated bettors as their target... http://www.midasoracle.org/2007/02/01/betfair-case-study-betting-exchange-prediction-markets/ ... but they are also trying to educate/train people. Later on, when I have time, I will dive into the differences between BetFair Education and BetFair Academy. Most males don’t know how to use condoms.
- Would you try to sell condoms to eunuchs?
- Wouldn’t you try to sell condoms to very sexually active males, first?

Should a prediction market exchange/consultant invest time and financial resources into educating people to trade? Shouldn’t they focus on market-friendly people, first?

Do we really need ALL the people to go trading? Or do we need to satisfy fully THE active traders, within any group or population?

Full traders’ satisfaction = continuous focusing on: software usability + software innovation

Would attending the newbies be a distraction in this pursuit?

Citing BetFair again, it seems that they identified the sophisticated bettors as their target…
http://www.midasoracle.org/200.....n-markets/
… but they are also trying to educate/train people.

Later on, when I have time, I will dive into the differences between BetFair Education and BetFair Academy.

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