Here are the screen shots of their posts —-before they get removed.
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Previously: on TradeSports death – on InTrade’-s viability
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Tip via Jason Ruspini
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Previously: on TradeSports death – on InTrade’-s viability
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– InTrade CEO John Delaney has not yet clarified the death of TradeSports and the viability of InTrade. – UPDATE
– Professor George Neumann has not yet responded to Jed Christiansen’-s objections.
– Their upcoming “business development initiatives” will magically generate new, sustainable revenues.
– The CFTC will soon allow InTrade to export its Irish services, legally, to the Americans.
Each of those bets is risky —-and InTrade need to succeed on both fronts. It will be very difficult.
Best of luck to them —-luck is what they will be needed.
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He has offered 2 different explanations.
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EXPLANATION #1: Let’-s blame the Unlawful Internet Gambling Enforcement Act of 2006.
We underestimated the difficulties that current and new customers would experience in funding accounts and partly as a result of this we have reluctantly decided to close TradeSports. While we are not hopeful that funding issues may dissipate soon, should they TradeSports will be back and it is therefore an imperative for us to effect and orderly and goodwill preserving closure for you all.
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EXPLANATION #2: In spite of the InTrade-TradeSports splitting (sold to the gullible people since January 1st, 2007), TradeSports is the gambling stigma attached to InTrade. It is good business to get rid of that gambling stigma.
The closure of TradeSports is a good for Intrade as for too long the legacy association of Intrade to TradeSports has been a negative for Intrade for reasons that have been referred to above.
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Chris F. Masse
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Link via Jason Ruspini
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Previously: The InTrade predicton markets on the viability of InTrade won’-t reveal *ANYTHING* about the future of InTrade.
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My post about the sudden closure of TradeSports was the #2 most downloaded webpages, yesterday —-even though that post was published late yesterday. And this morning, I am receiving tons of e-mails from the InTrade and TradeSports traders (they are often the same people).
My reasoning:
TAKEAWAY:
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Chris F. Masse
It is impossible for any InTrade trader to know whether the financial accounting of InTrade is sound or not. Any commercial company surrounds itself with secrecy. Let alone an Irish company that illegally (from the DOJ’-s standpoint) exports its services to Americans.
UPDATE: See the comment #1 there.
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It was impossible for the InTrade traders to divine whether Yahoo! CEO Jerry Yang would step down.
(In passing, note that InTrade has expired this contract hours after the breaking news hit the wires.)
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It was impossible for the InTrade traders to divine whether Unlawful Internet Gambling Enforcement Act of 2006 would be voted and enacted.
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The InTrade predicton markets on the viability of InTrade won’-t reveal ANYTHING about the future of InTrade. It will just aggregate InTrade’-s PR output.
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As for the “-business development initiatives”- planned by the InTrade executives, I wish them the best of luck. However, I remain skeptical, since I don’-t see what can replace the 2008 US elections in terms of attractiveness —-now that the SuperBowl has been sacrificed.
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