Tag Archives: chairman

How BetFair stole Bastille Day from the French —and how Ed Murray became BetFair’s best friend (NOT A HOAX).

Posted on July 15, 2008 by Chris F. Masse

- Michael Giberson (professor of economics and chairman of our scientific advisory board): Actually, I would expect the change to improve liquidity, but the real surprise for Ed Murray is that other than his liquidity argument, I pretty much agree … Continue reading →

Posted in Exchange & Market Designs, Exchanges & Markets, Market Liquidity, Mechanism Designs | Tagged Bastille Day, bet matching, bet matching logic, bet-matching engine, bet-matching process, bet-matching system, BetFair, chairman, market designs, Market Liquidity, matching bets, matching trades, Mechanism Designs, Michael Giberson, prediction markets, professor of economics, professor of economics and chairman, Trader, trading engine | 29 Comments

John McCain’s grumpy old pal writes to Bo Cowgill’s boss.

Posted on May 20, 2008 by Chris F. Masse

Joe Lieberman: May 19, 2008 Dr. Eric Schmidt Chairman of the Board and Chief Executive Officer Google, Inc. 1600 Amphitheatre Parkway Mountain View, CA 94043 Dear Dr. Schmidt: YouTube is being used to share videos produced by al-Qaeda and other … Continue reading →

Posted in Ethics, Politics, The Internet | Tagged Afghanistan, Al Qaeda, Ansar al-Islam, Board and Chief Executive Officer, California, chairman, Chairman of the Board, Chairman of the Board and Chief Executive Officer, Department of State, Eric Schmidt, Foreign Terrorist, Google, Homegrown Terrorist, Internet campaign, Iraq, Iraq war, Islamist terrorist, islamists, Joe Lieberman, John McCain, Joseph I. Lieberman, law enforcement, media campaign, Mountain View, multi-tiered online media operation, online content, Senate Committee on Homeland Security and Governmental Affairs, terrorists, United States, YouTube | Leave a comment

Who is behind the CFTC’s request?

Posted on May 5, 2008 by Guest Author

People close to the CFTC say that one reason this is coming now is that the Chairman (who will be retiring soon) wants a legacy —something he leaves behind that is innovative and that he can be known for pioneering. … Continue reading →

Posted in All Guest Authors's Posts, Regulations | Tagged CFTC, chairman, event derivative markets, event derivatives, prediction markets, Regulations | Leave a comment

The United States Of America Needs To Rethink The Unlawful Internet Gambling Enforcement Act of 2006.

Posted on April 11, 2008 by Chris F. Masse

- Via Daniel Horowitz (business and technology consultant), The Wall Street Journal Europe (pirated copy here): [...] We have our differences with House Financial Services Chairman Barney Frank, but he may have been on to something when he introduced a … Continue reading →

Posted in Regulations | Tagged America, Barney Frank, business and technology consultant, chairman, Daniel Horowitz, House Financial Services, House Financial Services Chairman, Internet Gambling Enforcement Act, The Wall Street Journal Europe, United States Of America, Unlawful Internet Gambling Enforcement Act of 2006, Wall Street Journal, Wall Street Journal Europe, Washington | Leave a comment

Details on how the Federal Reserve will TRY to crash real-money prediction exchanges InTrade-TradeSports and MatchBook

Posted on April 2, 2008 by Chris F. Masse

Via Betting Market, the Federal Reserve: Louise L. Roseman, Director, Division of Reserve Bank Operations and Payment Systems Internet gambling Before the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology, Committee on Financial Services, U.S. House of Representatives … Continue reading →

Posted in Regulations | Tagged attorney general, bank, Bank commenters, card systems, certain designated payment systems, certain payment systems, chairman, check collection systems, Committee on Financial Services, Congress, correspondent, correspondent bank, cross-border Internet, designated payment systems, Director, Division, Federal Reserve Board, Federal Reserve System, financial services, foreign bank, foreign Internet, Gutierrez, Internet gambling, Internet Gambling Enforcement Act, Louise L. Roseman, Paul, payment systems, Ranking Member, Reserve Bank Operations, Secretary of Treasury, Secretary of the Treasury, stored-value systems, Subcommittee on Domestic and International Monetary Policy, U.S. House of Representatives, United States, unlawful Internet, unlawful internet gambling, Unlawful Internet Gambling Enforcement Act of 2006, US Federal Reserve, US Treasury, wire transfer systems, World Trade Organization | Leave a comment

Are U.S. banks capable of stopping transactions tied to event derivative traders made for speculating at InTrade-TradeSports and MatchBook?

Posted on April 2, 2008 by Chris F. Masse

New York Times: Congress to Take Testimony on Internet Gambling Ban By Matt Richtel The Unlawful Internet Gambling Enforcement Act of 2006 made it illegal for banks and other financial institutions to process online wagers. The goal was to find … Continue reading →

Posted in Regulations | Tagged author, Barney Frank, Betting, chairman, Congress, Department of the Treasury, Federal Reserve System, Gambling, House Committee on Financial Services, Internet betting and gambling, Internet gambling, Internet gambling ban, Internet Gambling Enforcement Act, law enforcement, Massachusetts, Matt Richtel, New York Times, Regulations, United States, Unlawful Internet Gambling Enforcement Act of 2006 | 2 Comments

David Pennock, a respected expert in prediction markets and market design, discusses some aspects of BetFair’s new bet-matching logic.

Posted on March 21, 2008 by Chris F. Masse

David Pennock: Arbitraging bets is the same thing as matching bets. They are equivalent. When someone places a bid at price 10 and someone else places an ask at price 9, there is an “arbitrage” that the exchange eliminates by … Continue reading →

Posted in Exchange & Market Designs, Exchanges & Markets, Market Trading, Market Transaction Costs, Mechanism Designs | Tagged bet matching, bet matching logic, BetFair, chairman, combo market maker, David Pennock, economist, human market makers, job candidate, market designs, Market Trading, Michael Giberson, Midas Oracle Advisory Board, prediction markets, traders | 4 Comments

The free but unsollicited piece of advice from the Chairman of the Midas Oracle Advisory Board to the BetFair market designers.

Posted on March 20, 2008 by Chris F. Masse

Michael Giberson: Jason, I think the allegation of queue jumping made in some of the comments is based upon a misunderstanding. BetFair is just matching the orders when a match becomes available, not inserting new orders at the front of … Continue reading →

Posted in Exchange & Market Designs, Exchanges & Markets, Market Trading, Mechanism Designs | Tagged bet matching, bet matching logic, BetFair, chairman, Chris Hibbert, Mark Davies, market designs, Market Trading, Michael Giberson, Midas Oracle Advisory Board, prediction markets, traders | 8 Comments

BetFairâ€™s new bet-matching logic + BetFair Malta’s trading on the multiples

Posted on March 19, 2008 by Chris F. Masse

BetFair: Bet Matching Forum Q&A Session 19/03/08 Betfair Customer Services 17 Mar 11:50 As announced last week weâ€™ll be hosting a Q&A session on the forum this Wednesday evening (19th March) between 6pm and 7pm (UK Time). The purpose of … Continue reading →

Posted in All Best Posts Ever, Exchange & Market Designs, Exchanges & Markets, Market Makers (Automated), Market Makers (Human), Market Trading, Mechanism Designs | Tagged Andy Fuller, Andy Murray, arbitrator, back player, bet matching, bet matching algorithm, bet matching logic, BetFair, BetFair Malta, BetFair multiples, chairman, combo market maker, exchange software, execution algorithm, football, Gambling Commission, GBP, Hobart, horse, horse racing, human market makers, Ireland, job candidate, John McCririck, magician, Malta, Mark Davies, market designs, Market Trading, matching algorithm, material change to your product, Mathias Entenmann, Midas Oracle Advisory Board, multiples betting, multiples product, non runner, P2P, Player, prediction markets, Robin Ewe, Roger Federer, runner, S&P, soccer, sports betting, sports markets, Tasmania, tennis, tennis player, the Times, traders, United Kingdom | 5 Comments

BetFair Maltaâ€™s combo market maker (trading algorithm + human market makers) operating on the multiples