Prediction Markets + Market Predictions = Collective Forecasting That Pays Off

Tag Archives: Player

The Alderney Gambling Control Commission: you follow the rules but you still don’t get paid. Why bother with regulation at all?

Online gambling regulation by accountable governmental bodies is a good thing for one reason and one reason alone: it offers protection to the player. There are many reasons why it’s good for the industry in terms of profit and image, but all that is irrelevant if the player side is missing from the equation, as [...]

In a blow to the French, BetFair choose Bastille Day to premiere the revised version of the bet-matching logic of their prediction markets. — IMPROVEMENT MEANS BETTER LIQUIDITY FOR THEIR EVENT DERIVATIVE TRADERS.

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BetFair:
Improvements to Betfair’s bet matching logic today, Monday 14th July:
What’s changing?
We’ve improved the code that matches bets. As well as matching backs against lays as we’ve always done, we’ll also try to match your bet against bets on other selections in the market. We‘ll give you an improvement over the price you‘ve requested where possible, [...]

Malta Lotteries And Gaming Authority: the non-regulating regulator

The Malta Lotteries And Gaming Authority is the governmental body whose job it is to oversee and regulate all gambling operations located in Malta. The 2004 Remote Gaming Regulations represents the governing legislation, and it includes the following encouraging clause:
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The Authority may order the suspension or cancellation of a license if…the license holder has failed [...]

He asks questions; you’ll provide answers.

I would like to ask the U.S. contributors to Midas Oracle what they would make of a prediction market for the 2012 Democratic nomination where one contender was backed heavily, at any price, despite losing every single primary heavily for months.
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The Democratic nomination is only a once every four years event, but similar things to [...]

BetFair’s message to the UK’s Gambling Commission on betting and the integrity of sports

Via Medemi (109 comments on their thread, and still growing), BetFair (PDF file):
3 August 2007
Integrity in Sports Betting Issues Paper Consultation Co-ordinator Gambling Commission Victoria Square House Victoria Square Birmingham B2 4BP
Dear Sir/Madam,
INTEGRITY IN SPORTS BETTING ISSUES PAPER – BETFAIR RESPONSE
I am writing on behalf of Betfair in response to the Commission’s “Issues” paper of [...]

If the British legal betting companies offer bets on the sport, it is because there is demand for bets on the sport —and if that demand were not offered in a regulated environment, it would be filled in an unregulated one (like what we see with TradeSports-InTrade and MatchBook in the US market).

Mark Davies of BetFair (PDF file):
International Leaders in Sport conference, Auckland, New Zealand. April 3-4th 2008.
Keynote speech, April 4th. Mark Davies, Betfair.
“New Understandings in Sports Betting”
Minister, ladies and gentlemen… Thank you very much for your kind invitation to speak to you today. I have once before been asked by sport to address it, as a [...]

Only bloggers do link to the prediction markets —mainstream media, like ABC News, never do.

Can NewsFutures Really Predict the Future?
… asks ABC News (4 pages):

[...] NewsFutures creator Emile Servan-Schreiber believes that prediction markets like his are the “future of journalism.” [*] “It gives people the news of today and lets them give you the news of tomorrow in a probabilistic fashion by asking them to take bets on what [...]

Independent production company seeks deep throats to spill beans on online poker industry and BetFair Poker.

Betting Market:

I am a researcher employed by a leading award winning UK based independent production company, that specialises in factual programmes. We are currently researching the online poker industry, for a forthcoming documentary that will look at the broader issue of the regulation of the online gambling industry.
I am interested in hearing from people who [...]

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

BetFair:

Bet Matching Forum Q&A Session 19/03/08
Betfair Customer Services 17 Mar 11:50
As announced last week we’ll be hosting a Q&A session on the forum this Wednesday evening (19th March) between 6pm and 7pm (UK Time). The purpose of this Q&A session is to answer questions regarding BetFair’s new bet matching logic. To [...]

One trader’s view on BetFair’s new bet-matching logic

He/She LOVES it!!!!!

POLL: should betfair keep the new bet matching logic WITH BEST EXECUTION ?
- K J J – 17 Mar 17:48
I say YES.
Such a system has been long overdue. Say for example, in a market (with now withdrawals) with two runners and one winer, backing Runner A at 1.5 is [...]

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