My email requesting the transfer of my funds from Intrade back to TradeSports went unanswered.
They should have clearly indicated that any monies transferred to Intrade won’t be allowed to be transferred back to TS. They made absolutely no mention of this in their suggestion to transfer at least 20% of your account balance to Intrade.
Most of my money is tied up in other positions so the money transferred only resulted in a few hundred dollars.
Judging by their actions here, it is clear that Intrade wants no part of TradeSports in any way, shape or form and is leaving the sports side hung out to dry. If they did this split to appease the U.S. government, I certainly hope they got the “green light” from someone with huge political influence. [*]
I am wondering if they are trying to expand the Intrade side due to the fact that the Iowa electronic markets are legal in the U.S. [**] Its important to remember that sports betting and poker are also legal in the U.S. at DESIGNATED brick and mortar outlets.
Dark*Horse:
That’s the whole point. At a time when many sports investors are forced to take a very critical look at the industry, this move is just another example that TS management is not in touch with what is going on in the sports betting world. I may as well spell it out: In the present climate sports bettors are looking for reliability and trustworthiness.
[*] Possible, but I view it as unlikely.
[**] See Tom Bell’s analysis: Do Gambling Laws Threaten Prediction Markets?
