Tag Archives: Dublin
The Case for Decrimininalization of Prediction Markets
[This article is cross-posted from Major Wager.]
-
A recent article in the prestigious academic journal Science (May 16, 2008, Vol 320, p. 877-8) once again makes the case for regulated prediction markets, more commonly known as “betting exchanges” to online gamblers. The authors make the case that such markets are useful in forecasting future events with [...]
InTrade-TradeSports are fucking up contracts, once again.
Once again.
I have been inundated with complaints from InTrade traders, since Christmas. Here’s the problem. InTrade traders tell me that the expiration dates for the Bloomberg and Gore announcement contracts have been extended —at InTrade’s whim. The contract statements, I’m told, said they would expire on December 22, 2007. At this time, InTrade did not [...]
Prediction Market History + Prediction Market Journalism
The New York Times:
[...] Long before political prediction markets sprouted on the Internet, election bets — whether the stakes were money or embarrassing public spectacles — were a ubiquitous part of the American political scene. The practice, which began informally with petty stakes in pool halls in the late 19th century, was by 1900 a [...]
The law of one price
The law of one price is an economic law stated as: “In an efficient market all identical goods must have only one price.”
The intuition for this law is that all sellers will flock to the highest prevailing price, and all buyers to the lowest current market price. In an efficient market the convergence on one [...]
ALL our real-money prediction exchanges (betting exchanges) have a play-money ground.
BetFair – (Hammersmith, London, England, United Kingdom, E.U.)
BetFair Play For Fun
Only English Soccer
[...]
Are punters sophisticated?
A leading Irish bookmaker (BetChronicle), with close associations to the Dublin-based, betting exchange, Betdaq, has put up a best price offer of 2.75 Tiger Woods to win the US masters (to 130 sterling), against an available price to lay on Betfair of 2.58.
A sure fire way of backing a winner, but is the price being [...]
Recent Comments