Comments on: Presumptuous http://www.midasoracle.org/2008/08/15/presumptuous/ Prediction Markets For All Thu, 08 Jan 2009 23:57:04 +0000 http://wordpress.org/?v=2.7 hourly 1 By: medemi http://www.midasoracle.org/2008/08/15/presumptuous/#comment-21140 medemi Fri, 15 Aug 2008 11:32:44 +0000 http://www.midasoracle.org/?p=8276#comment-21140 <em>Jed Christiansen will never be a cheerleader for the prediction market industry as long as <a href="../../11/sean-park-cftc/" title="BetFair angel investor Sean Park says that Jed Christiansen’s anti-sport comment to the CFTC stinks like rotten dead fish under the Egyptian sun." rel="nofollow">he holds those wrong views about betting on sports</a>. </em>The truth is in the middle. Jed has a point to make but he's not explaining it well. The problem is not with sports markets, it is with the characteristics which are intertwined with them. We are usually talking about markets which have a short life, are fast moving etc. (more so when you offer in-play  markets). These markets show a lack of integrity (thank you betfair) and offer opportunity = risk = criminal activity. Perhaps Sean Park (or you, Chris) would like to elaborate on how you're going to deal with insider trading and organized crime. Because without it, your view is nothing more than a one-sided one. The CFTC however, are going to have to deal with many other aspects. So I wonder if they should be so impressed with your liberal views. Jed Christiansen will never be a cheerleader for the prediction market industry as long as he holds those wrong views about betting on sports.

The truth is in the middle. Jed has a point to make but he’s not explaining it well.
The problem is not with sports markets, it is with the characteristics which are intertwined with them. We are usually talking about markets which have a short life, are fast moving etc. (more so when you offer in-play  markets).
These markets show a lack of integrity (thank you betfair) and offer opportunity = risk = criminal activity.

Perhaps Sean Park (or you, Chris) would like to elaborate on how you’re going to deal with insider trading and organized crime. Because without it, your view is nothing more than a one-sided one. The CFTC however, are going to have to deal with many other aspects. So I wonder if they should be so impressed with your liberal views.

]]> By: medemi http://www.midasoracle.org/2008/08/15/presumptuous/#comment-21139 medemi Fri, 15 Aug 2008 10:45:52 +0000 http://www.midasoracle.org/?p=8276#comment-21139 I was having a look at HubDub's FAQ (of which we know by now - they are not actually questions asked by real customers, but invented by the company management) the other day. Anyway, the question I missed was "Can I play with real money ?" The answer could be something like "Unfortunately, not at this point. blah blah...". Hence, Nigel Eccles doesn't seem like a prediction market guru to me, but feel free to correct me on this one should I be out of line. I was having a look at HubDub’s FAQ (of which we know by now - they are not actually questions asked by real customers, but invented by the company management) the other day.
Anyway, the question I missed was “Can I play with real money ?” The answer could be something like “Unfortunately, not at this point. blah blah…”.
Hence, Nigel Eccles doesn’t seem like a prediction market guru to me, but feel free to correct me on this one should I be out of line.

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