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	<title>Comments on: If the British legal betting companies offer bets on the sport, it is because there is demand for bets on the sport &#8212;and if that demand were not offered in a regulated environment, it would be filled in an unregulated one (like what we see with TradeSports-InTrade and MatchBook in the US market).</title>
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	<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/</link>
	<description>Prediction Markets + Market Predictions = Collective Forecasting That Pays Off</description>
	<lastBuildDate>Tue, 09 Mar 2010 21:23:38 -0500</lastBuildDate>
	
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		<title>By: The Best Resources On Prediction Markets &#124; Midas Oracle .NET</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-21728</link>
		<dc:creator>The Best Resources On Prediction Markets &#124; Midas Oracle .NET</dc:creator>
		<pubDate>Sun, 14 Sep 2008 21:27:10 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-21728</guid>
		<description>[...] New Understandings in Sports Betting - (PDF file) - by BetFair&#8217;s Mark Davies - [...]</description>
		<content:encoded><![CDATA[<p>[...] New Understandings in Sports Betting &#8211; (PDF file) &#8211; by BetFair&#8217;s Mark Davies &#8211; [...]</p>
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		<title>By: klaas</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-20896</link>
		<dc:creator>klaas</dc:creator>
		<pubDate>Mon, 28 Jul 2008 12:14:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-20896</guid>
		<description>&#039;&#039;we are set up like a stock exchange, matching up supply and demand, and taking a cut in the middle. This means that &lt;strong&gt;we have no exposure to the result&lt;/strong&gt;, or, to put it another way, we don’t care who wins. We make money if the event happens, regardless of the outcome,&#039;&#039;  

I fink this is not true that you cant lose when all people bet on the highest payout and the win .
Than you lose money ofcours.
I know on the long run you make always money.
If your supply and demand, is correct 
When you sell your stock to low you going to lose money.
So i fink when there is alot money with the game on 1 site more 
i fink you  care than.</description>
		<content:encoded><![CDATA[<p>&#8221;we are set up like a stock exchange, matching up supply and demand, and taking a cut in the middle. This means that <strong>we have no exposure to the result</strong>, or, to put it another way, we don’t care who wins. We make money if the event happens, regardless of the outcome,&#8221;  </p>
<p>I fink this is not true that you cant lose when all people bet on the highest payout and the win .<br />
Than you lose money ofcours.<br />
I know on the long run you make always money.<br />
If your supply and demand, is correct<br />
When you sell your stock to low you going to lose money.<br />
So i fink when there is alot money with the game on 1 site more<br />
i fink you  care than.</p>
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		<title>By: Chris F. Masse</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-19115</link>
		<dc:creator>Chris F. Masse</dc:creator>
		<pubDate>Fri, 06 Jun 2008 18:41:14 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-19115</guid>
		<description>@Adonis: &quot;Please read up on anything you can find from “The Magician”&quot;
-
Any BetFair trader is welcome on Midas Oracle, provided that he / she doesnot defame BetFair.
-
Simple rule.</description>
		<content:encoded><![CDATA[<p>@Adonis: &#8220;Please read up on anything you can find from “The Magician”&#8221;<br />
-<br />
Any BetFair trader is welcome on Midas Oracle, provided that he / she doesnot defame BetFair.<br />
-<br />
Simple rule.</p>
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		<title>By: Adonis</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-19112</link>
		<dc:creator>Adonis</dc:creator>
		<pubDate>Fri, 06 Jun 2008 18:22:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-19112</guid>
		<description>@Chris:
Please read up on anything you can find from &quot;The Magician&quot;, a regular poster on the betfair forum. He may be joining us over here very soon!


He has made detailed statements
http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1530037
regarding his reportage to the Gambling Commission ( and a couple of responders include theirs too).

Once again, you will find it difficult not to recognise the &quot;thread spoiler&quot; crowd and their tactics.
They don&#039;t seem at all worried by BF&#039;s so-called &quot;rules&quot; on defamation. As long as they cite what (IMHO) might be the &quot;party line, they can clearly post almost anything!
Don&#039;t take the simplistic route and assume that some of them are just numbskulls. Over &lt;strong&gt;T&lt;/strong&gt;ime, most bf Customers can detect a strong degree of vitriolic intelligence.........
&lt;strong&gt;MORE POWER TO MAGICIAN&#039;S ELBOW!!!!&lt;/strong&gt;</description>
		<content:encoded><![CDATA[<p>@Chris:<br />
Please read up on anything you can find from &#8220;The Magician&#8221;, a regular poster on the betfair forum. He may be joining us over here very soon!</p>
<p>He has made detailed statements<br />
<a href="http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1530037" rel="nofollow">http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1530037</a><br />
regarding his reportage to the Gambling Commission ( and a couple of responders include theirs too).</p>
<p>Once again, you will find it difficult not to recognise the &#8220;thread spoiler&#8221; crowd and their tactics.<br />
They don&#8217;t seem at all worried by BF&#8217;s so-called &#8220;rules&#8221; on defamation. As long as they cite what (IMHO) might be the &#8220;party line, they can clearly post almost anything!<br />
Don&#8217;t take the simplistic route and assume that some of them are just numbskulls. Over <strong>T</strong>ime, most bf Customers can detect a strong degree of vitriolic intelligence&#8230;&#8230;&#8230;<br />
<strong>MORE POWER TO MAGICIAN&#8217;S ELBOW!!!!</strong></p>
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		<title>By: Medemi</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-19079</link>
		<dc:creator>Medemi</dc:creator>
		<pubDate>Thu, 05 Jun 2008 19:24:32 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-19079</guid>
		<description>Very strange indeed Adonis. The most likely explanation was provided early on in that thread, but even I could not justify so much suspicion on the way betfair operate.
One should have a look at the stock market, and the safeguards they have in place. Also, the problems they may have encountered in the past. </description>
		<content:encoded><![CDATA[<p>Very strange indeed Adonis. The most likely explanation was provided early on in that thread, but even I could not justify so much suspicion on the way betfair operate.<br />
One should have a look at the stock market, and the safeguards they have in place. Also, the problems they may have encountered in the past. </p>
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		<title>By: Adonis</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-19077</link>
		<dc:creator>Adonis</dc:creator>
		<pubDate>Thu, 05 Jun 2008 18:22:07 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-19077</guid>
		<description>The betfair forum&#039;s stalwart (&lt;strong&gt;Magician&lt;/strong&gt;) seems to be putting another &quot;phenomeneon&quot; under scrutiny. 
 &lt;strong&gt;Muqbil&lt;/strong&gt; has reported strange happenings,
 http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1538918
 
 Incidentally, readers here may find it amusing also to see how the original topic gets sidetracked for quite a while......
 
 My interim deductions?
 Looks like someone, some body or some &quot;bot&quot; is managing to take advantage of a &lt;strong&gt;T&lt;/strong&gt;ime loophole, yet again; and &lt;em&gt;&lt;strong&gt;yet again&lt;/strong&gt;&lt;/em&gt; undermining perceived (if not actual) Betting Integrity, IMHO.
 
 Magician sums up the general options pretty well. Until elucidated, exchange, punters, traders and bot operators are &lt;em&gt;&lt;strong&gt;necessarily&lt;/strong&gt;&lt;/em&gt; &lt;em&gt;&lt;strong&gt;all under suspicion&lt;/strong&gt;&lt;/em&gt;. Some more than others!!!!!
 
 I particularly like the posting name &quot;&lt;strong&gt;Spiv&lt;/strong&gt;&quot;, seen on the cited thread....
 Medemi and other readers here will remember the general hue and cry &quot; the pack&quot; focussed on me when I (4 years ago now) dared to suggest that certain types of &quot;trader&quot; were akin to ticket touts and &lt;strong&gt;Spivs&lt;/strong&gt;....... 
 there was &lt;strong&gt;not one single dissenting posting&lt;/strong&gt; from any BF &quot;punter&quot;.......
 
 (FAO Chris: in Wartime Britain, a &quot;&lt;strong&gt;spiv&lt;/strong&gt;&quot; was the archetypical black-marketeer, always keen to make a fast buck at the expense of anyone else - his own grandmother included, if necessary! Later, the same degree of disdain was levelled at ( for example) Used Car Dealers. Later still, ticket touts......)</description>
		<content:encoded><![CDATA[<p>The betfair forum&#8217;s stalwart (<strong>Magician</strong>) seems to be putting another &#8220;phenomeneon&#8221; under scrutiny.<br />
 <strong>Muqbil</strong> has reported strange happenings,<br />
 <a href="http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1538918" rel="nofollow">http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=32&amp;threadID=1538918</a></p>
<p> Incidentally, readers here may find it amusing also to see how the original topic gets sidetracked for quite a while&#8230;&#8230;</p>
<p> My interim deductions?<br />
 Looks like someone, some body or some &#8220;bot&#8221; is managing to take advantage of a <strong>T</strong>ime loophole, yet again; and <em><strong>yet again</strong></em> undermining perceived (if not actual) Betting Integrity, IMHO.</p>
<p> Magician sums up the general options pretty well. Until elucidated, exchange, punters, traders and bot operators are <em><strong>necessarily</strong></em> <em><strong>all under suspicion</strong></em>. Some more than others!!!!!</p>
<p> I particularly like the posting name &#8220;<strong>Spiv</strong>&#8220;, seen on the cited thread&#8230;.<br />
 Medemi and other readers here will remember the general hue and cry &#8221; the pack&#8221; focussed on me when I (4 years ago now) dared to suggest that certain types of &#8220;trader&#8221; were akin to ticket touts and <strong>Spivs</strong>&#8230;&#8230;.<br />
 there was <strong>not one single dissenting posting</strong> from any BF &#8220;punter&#8221;&#8230;&#8230;.</p>
<p> (FAO Chris: in Wartime Britain, a &#8220;<strong>spiv</strong>&#8221; was the archetypical black-marketeer, always keen to make a fast buck at the expense of anyone else &#8211; his own grandmother included, if necessary! Later, the same degree of disdain was levelled at ( for example) Used Car Dealers. Later still, ticket touts&#8230;&#8230;)</p>
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		<title>By: Chris F. Masse</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-18921</link>
		<dc:creator>Chris F. Masse</dc:creator>
		<pubDate>Wed, 28 May 2008 10:54:24 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-18921</guid>
		<description>Internet sports betting becomes criminal domain - Yahoo! News&lt;br /&gt;http://news.yahoo.com/s/afp/20080527/lf_afp/sportsgamblingcrimeinternet_080527003537</description>
		<content:encoded><![CDATA[<p>Internet sports betting becomes criminal domain &#8211; Yahoo! News<br /><a href="http://news.yahoo.com/s/afp/20080527/lf_afp/sportsgamblingcrimeinternet_080527003537" rel="nofollow">http://news.yahoo.com/s/afp/20080527/lf_afp/sportsgamblingcrimeinternet_080527003537</a></p>
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		<title>By: We could use a US Gambling And Betting Commission, but the best would be to have prediction exchanges (modeled after BetFair) that alert the sports bodies about any suspicions. &#124; Midas Oracle .ORG</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-18859</link>
		<dc:creator>We could use a US Gambling And Betting Commission, but the best would be to have prediction exchanges (modeled after BetFair) that alert the sports bodies about any suspicions. &#124; Midas Oracle .ORG</dc:creator>
		<pubDate>Sat, 24 May 2008 22:43:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-18859</guid>
		<description>[...] Previously: BetFair&#8217;s Mark Davies on sports betting and the fight against corruption [...]</description>
		<content:encoded><![CDATA[<p>[...] Previously: BetFair&#8217;s Mark Davies on sports betting and the fight against corruption [...]</p>
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		<title>By: Did Patri Friedman misread BetFair? &#124; Midas Oracle .ORG</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-18858</link>
		<dc:creator>Did Patri Friedman misread BetFair? &#124; Midas Oracle .ORG</dc:creator>
		<pubDate>Sat, 24 May 2008 22:24:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-18858</guid>
		<description>[...] BetFair is the only betting company in the world that has systematized a cooperation program with sp.... [...]</description>
		<content:encoded><![CDATA[<p>[...] BetFair is the only betting company in the world that has systematized a cooperation program with sp&#8230;. [...]</p>
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		<title>By: BetFair makes the frontpage of the New York Times &#8211;as the White Knight of sports. &#8212; Note that the term &#8220;prediction markets&#8221; is never pronounced. &#8212; TradeSports is not mentioned, but the last paragraph of the article suggests t</title>
		<link>http://www.midasoracle.org/2008/04/28/betfair-sports-betting/#comment-18856</link>
		<dc:creator>BetFair makes the frontpage of the New York Times &#8211;as the White Knight of sports. &#8212; Note that the term &#8220;prediction markets&#8221; is never pronounced. &#8212; TradeSports is not mentioned, but the last paragraph of the article suggests t</dc:creator>
		<pubDate>Sat, 24 May 2008 21:32:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.midasoracle.org/?p=6746#comment-18856</guid>
		<description>[...] Previously: BetFair&#8217;s Mark Davies on sports betting and the fight against corruption [...]</description>
		<content:encoded><![CDATA[<p>[...] Previously: BetFair&#8217;s Mark Davies on sports betting and the fight against corruption [...]</p>
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