Smarkets want you to believe that they are going after a much bigger betting market than BetFairs one.

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Their CTO (Hunter Morris) is the first to present in the video. Watch out for his slide on casual and social betting.

Startups Rally &#8211- Part I &#8211- Elevator Pitches (4 of 4) from Plugg Conference on Vimeo.

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External Link: Smarkets

French online gambling laws are turning into a kafkian farce.

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The French government will ask internet gambling operators accessing the French market to turn over:

  • the ID details of all gamblers-
  • the banking info on all gamblers-
  • the details of all bets made by the gamblers-
  • the source code of all software used-
  • etc.

Crazy.

Expressing betting prices as percentages

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Smarkets:

Can I choose my style of odds?

We show percentage odds by default, but you can select the odds display of your choice from the top of every page. We offer American, fractional, decimal and percentage odds. Because we allow fans to set their own odds you may see some strange looking fractional or American odds, we recommend percentage odds as we think they are the most flexible and readable choice.

Does anybody (in Great Britain or elsewhere) disagree with that? Explain your view in the comments.

I do agree with Smarkets.

Whats wrong with soccer betting

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I have been browsing thru the excellent Smarkets prediction markets on soccer (a.k.a. association football). You have 3 possibilities for betting:

– the home team wins-
– the home team loses-
there is a draw.

The soccer rules (which allow for a draw) make me uncomfortable for betting on the outcome of a match. How can you assess the probability of a draw? I don&#8217-t get it. The Soccer Federation (FIFA) should get rid of &#8220-draws&#8221- in soccer. As for forecasting and betting, it is annoying.

You cant have accumulator bets on the weather of neighboring regions…

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&#8230- because &#8220-if it snows in one city, it&#8217-s likely to snow in another city.&#8221- In other words, these weren&#8217-t independent events.

Via Barry Ritholtz (author of Bailout Nation)

HR 2267 = a bill that would legalize Internet gambling in the United States

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Will happen in 2010.

Bye bye UIGEA.