Tag Archives: sports prediction markets
In Favor Of Sports Betting
History is not kind with people who used to call themselves “the pragmatists”. Take a look at how contemporary historians and commentators treat the French state men who did act as “pragmatists” during World War II —they collaborated with Adolph Hitler and the Nazis, and, as you know, they had to pay the price, once [...]
Chris Masse’s pragmatism
Supporting the development of big, for-profit, generalist prediction exchanges (which get most of their revenues from sports prediction markets);
Asking the biggest prediction exchanges to organize socially valuable prediction markets.
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Don’t you rate me as a “pragmatist”, doc?
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BetFair is experimenting a phenomenal revenue growth with sports prediction markets, as I am typing this post. Maybe our good friend the “pragmatist” could look into that, and report his research findings to the CFTC. I’m sure he’ll do. The delicious sound of a red-hot cash register, with the dollars (or here, pounds) pouring in like the Niagara falls —that’s “pragmatism” in its purest form, to me.
BetFair’s bet matching process stopped for one full hour on May 7, 2008, and their P.R. people are over-apologizing for it. They are apologizing for the problem, and for their slow response to affected customers —good move. They are also giving out 10 bundles of £1,000 each to 10 affected traders chosen at random —a [...]
“What public purpose is served in the oversight of these [event derivative] markets and what differentiates these [event derivative] markets from pure gambling outside the CFTC’s jurisdiction?”
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My short thoughts on the CFTC announcement:
Nothing new..
No good. Sports prediction markets won’t be allowed by the CFTC (no matter), and, thus, the US-based event derivative exchanges will never be profitable. (Remember that HedgeStreet V1 went into bankruptcy, even though they were well funded.)
Going forward, we are going to see an opposition between people (like [...]
TradeSports has a new frontpage and a new sportsbook-like interface.
#1. New frontpage, which highlights the main sets of sports prediction markets.
#2. A sportsbook-like user interface (in addition to the 0–100 event futures interface) —a response to MatchBook (the darling of MajorWager).
FREAKONOMICS: John Delaney of InTrade-TradeSports.
Freakonomics (last month):
Q: Briefly, what is Intrade?
A: InTrade is a marketplace, just like eBay or the NYSE, that provides innovative markets to trade, and the best darn predictive information on uncertain future events bar none!
InTrade is a prediction exchange (betting exchange) that organizes the trading of event derivatives. It specializes in non-sports prediction markets. (For [...]
SPORTS CORRUPTION: The dark side of the prediction markets
BetFair:
Market Suspended – Martin Arguello v Nikolay Davydenko
Betfair Customer Services 02 Aug 18:45
Betfair has suspended settlement of the betting markets on this afternoon’s second round match of the ATP Orange Prokom Open in Poland between Martin Arguello and Nikolay Davydenko, pending investigation and consultation with relevant regulatory authorities. Betfair has had [...]
Chris Masse’s short thoughts on The Financial Times + play-money InTrade
FT Predict = play-money InTrade by The Financial Times
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#1. Great.
- Great for InTrade (TradeSports’ sister exchange). A good line on their resume.
- Great for the field of prediction markets: it brings additional credibility. If the prestigious Financial Times got into play-money prediction markets, then the choices made by a) other media/publishers b) a [...]
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