Tag Archives: United States Congress

The Case for Decrimininalization of Prediction Markets

Posted on June 26, 2008 by Jay Graziani

[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 … Continue reading →

Posted in All Best Posts Ever, All Guest Authors's Posts, Analysis (Industry), Exchanges & Markets, Regulations | Tagged Bear Sterns, BetFair, CFTC, Commodity Futures Trading Commission, decision-making tool, Dublin, economist, Enron, event derivative markets, event derivatives, event markets, federal law, Internet casinos, Internet Gambling Enforcement Act, internet gambling laws, InTrade, Iowa, Iraq, Jay Graziani, Justin Wolfers, laws, Major, MATCHBOOK, Middle East, National Basketball Association, NBA, oil, oil crisis, online gamblers, online prediction markets, Pennsylvania, Pentagon, prediction exchanges, prediction markets, profit-making tools, real-money prediction exchanges, real-money prediction markets, Regulations, S&P 500, sports betting, Stanford, the Science, The University of Iowa, the University of Pennsylvania, TradeSports, United States, United States Congress, Unlawful Internet Gambling Enforcement Act of 2006, Wager, Wharton School, Yale | 1 Comment

ROBIN HANSON’S PUBLIC ADMISSION: He signed Bob’s petitions, not because he heartfully endorsed them fully, but because he wanted to please Bob, didn’t want to be left out of the party, and was persuaded that his own blue-sky proposals wouldn’t make it —and other irrational excuses for not saying the truth to the US Congress.

Posted on May 19, 2008 by Chris F. Masse

Robin Hanson: Hal and Silas, endorsing this proposal does not mean that I would not prefer other proposals; it just means I prefer this to the status quo. Chris Masse is an example of someone who has difficulty accepting this … Continue reading →

Posted in Regulations | Tagged AEI, America, CFTC, Chris Masse, economists' petition, event derivative markets, event derivatives, petition, prediction markets, Regulations, Robin Hanson, United States Congress | 2 Comments

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).

Posted on April 28, 2008 by Chris F. Masse

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 … Continue reading →

Posted in All Best Posts Ever, Analysis (Industry), Betting, Business, Ethics, Exchanges & Markets, Explainers, Regulations | Tagged Analysis (Data) - Sports / Politics Corruption, Athens Olympic, Auckland, Australia, Australian Football League, author, Beijing, Belgium, bet exchanges, Bet Monitor technology, Bet Monitor, BetFair Radio, Betting, betting exchanges, Britain, Bundesliga, Cancer, Cheltenham Festival, Chicago Board Of Trade, Chicago White Sox, coach, commentator, cricket, Cyprus, director of corporate affairs, EUR, event derivative markets, event derivatives, event futures markets, Finance, Football League, Germany, Greece, High Street pharmacy, India, insider trading, Internet betting, Internet-based sports betting, IOC, irritation, Jacques Rogge, Jean-Paul Sartre, journalist, JPMorgan, Jumps Racing festival, ladies and gentlemen.., lawyer, Leigh Matthews, Lions, Liverpool, Madrid, Managing Director, Managing Director of Corporate Affairs, Mark Davies, Martin Arguello-Vasallo, messenger, minister, New Zealand, Nikolai Davydenko, Olympic, Olympics, Player, Poland Open, prediction markets, premiership coach, President, real time, Regulations, Reinhard Rauball, rugby, Singapore, Sports, sports administrators, sports betting, sports betting exchange, sports betting market, sports betting market saying, sports betting world, sports bodies, sports corruption, sports industry, sports punters, sports regulation, sports regulatory body, Sportsman, Swiss Futures and Options Association, tennis, The Guardian, United Kingdom, United States, United States Congress, USD, Victoria, Was Jacques Rogge, William Hill, Winston Churchill | 195 Comments

BetFair-backed lobby files a formal complaint against the United States of America for discrimination based on violations of World Trade Organisation rules.

Posted on December 21, 2007 by Chris F. Masse

Via Reason, the Remote Gambling Association (PDF file): EU online gaming industry challenges US with charge of prosecutorial discrimination Complaint under the EU Trade Barriers Regulation seeks to stop discriminatory practices against European operators Brussels, 20 December, 2007 The Remote … Continue reading →

Posted in Business, Regulations | Tagged Alston & Bird, Antigua and Barbuda, appropriate solution, Australia, Brussels, Bush administration, Canada, chief executive, Clive Hawkswood, D.C., European Union, foreign online gaming operators, foreign online operators, Internet Gambling Enforcement Act, Japan, Joseph Weiler, law commitments, London, Michael Thaidigsmann, Nao Matsukata, New York University, online gambling, online gaming, online gaming operator, online gaming operators, Professor, professor of law, Remote Gambling Association, trade law, trade analyst, trade official, United Kingdom, United States, United States Congress, United States Of America, Unlawful Internet Gambling Enforcement Act of 2006, US Department of Justice, USD, Washington, World Trade Organisation, www.rga.eu.com | Leave a comment

InTrade’s global warming prediction markets are more socially interesting than BetFair’s ones.

Posted on December 8, 2007 by Chris F. Masse

InTrade has just opened (and not publicized yet on their site feed) a set of global warming prediction markets —more exactly, event derivative markets on whether the world’s biggest national governments will soon agree to reduce CO2 emissions under the … Continue reading →

Posted in All Best Posts Ever, Exchange Genesis, Exchanges & Markets, Market Contract Statements | Tagged c, China, climate change, E.U., global warming, Google, India, InTrade, Japan, John Delaney, KING, London School of Economics, London School of Economics' Centre for Economic Perfomance, media sources, Mike Linksvayer, prediction markets, Ralf Martin, Russia, UNFCC Secretariat, UNFCCC, United Nations, United Nations Framework Convention on Climate Change, United States, United States Congress, USD, Washington D.C. | 2 Comments

Hedging on BetFair-TradeFair’s sports prediction markets

Posted on November 23, 2007 by Chris F. Masse

The Park Paradigm makes a good English case. I was told that the US CFTC would acknowledge privately that hedging on sports prediction markets has some legitimate purposes. But, politically, because of the reluctance of the US Congress for sports … Continue reading →

Posted in Analysis (Industry), Regulations | Tagged BetFair, Hedging, political hedging, prediction markets, risk hedging, Sports, sports gambling, sports prediction, United States Congress | Leave a comment

Fantasy Sport: The only way to crack open the US betting/gambling/gaming market… LEGALLY.

Posted on November 5, 2007 by Chris F. Masse

Wikipedia: A fantasy sport (also known as rotisserie, roto, or fairy-tale sport; or owner simulation) is a game where fantasy owners build a team that competes against other fantasy owners based on the statistics generated by individual players or teams … Continue reading →

Posted in Betting, Gambling, Regulations | Tagged Canada, Chris Russo, Congress, cricket, fantasy sports, fantasy sports games, fantasy sports leagues, Fantasy Sports Trade Association, football, George W. Bush, internet access, Internet Gambling Enforcement Act, league commissioner, Mace DVR-1600NT 16 Channel 160 GB Digital Video Recorder (DVR) with Internet Access, manager, National Football League, NFL, online contest, online gambling, online gambling operators, online lotteries, play fantasy sports, played fantasy sports, Player, point systems, President, professional sports, public fantasy sports businesses, real sports owner, Senior Vice President, simulation, simulation sports game, soccer, sports gambling, sports industry, sports leagues, sports writers, team player, United States, United States Congress, USD | Leave a comment

Supporting Your Candidate on Inkling?

Posted on July 9, 2007 by Michael Giberson

Would a candidate for U.S. Congress advocate market manipulation? Spotted on the “Jim Miceli for Congress” website: Show Your Support. Buy shares of James Miceli for Congress at Inklingmarkets.com. Unfortunately for Miceli, Inkling players are not going for him. The … Continue reading →

Posted in All Guest Authors's Posts, Exchanges & Markets, Market Liquidity, Market Prices & Probabilities | Tagged advocate, Congress, David Eisenthal, James Miceli for Congress, Massachusetts, Republican Party, Trader, United States Congress | 3 Comments

Some U.S. Congress members finally came to realize that the U.S. Government could milk the internet gambling and betting cows instead of rejecting them offshore.

Posted on June 8, 2007 by Chris F. Masse

Safe and Secure Internet Gambling Initiative … is the lobbying group that’s behind all this —backed by the European Gaming and Betting Association (EGBA). [BetFair does not belong to this association. BetFair, along with plenty of bookmakers and sportsbooks, belongs … Continue reading →

Posted in Events & Meetings, Regulations | Tagged Aristotle Inc, Asterion Payments, Barney Frank, CEO, chairman, chief executive, Chief Executive Officer, Communications, Congress, D.C., European Gaming and Betting Association, Financial Services Committee, Gerald Kitchen, Greg Hogan, House Financial Services Committee, Internet gambling, Internet Gambling Be Effectively Regulated, Internet Gambling Initiative, Internet gambling operator, Internet Gambling Regulation Washington, Internet Gambling Regulation, Jeff Schmidt, Jim McDermott, Jon Prideaux, law proposal, List, Michael Colopy, online gambling, Rayburn House Office Building, Reason, Remote Gambling Association, SecureTrading Ltd, Senior Editor, Senior Vice President, U.S. House of Representatives, United States, United States Congress, US government, US Treasury, USD, Washington | Leave a comment

Web-based petition to repeal the Internet Gambling Prohibition and Enforcement Act

Posted on April 24, 2007 by Chris F. Masse

Via “Europeâ€™s foremost betting industry analyst”. The petition: We, the Undersigned, endorse the following petition: Repeal Unlawful Internet Gambling Enforcement Act Target: Barney Frank, Congressman, U.S. Congress Sponsor: Concerned Citizen * Signatures: 236 * Goal: 400,000 * Deadline: Ongoing… Unfair … Continue reading →

Posted in Regulations | Tagged Barney Frank, betting industry analyst, Congressman, Europe, Internet Gambling Enforcement Act, Internet Gambling Prohibition, Jason Ruspini, Steve Roman, United States Congress, Web-based petition | 1 Comment