Prediction Markets vs. Bookmakers – The Ultimate Argument

No GravatarLas Vegas Sun:

“The bookie’s odds will be influenced by his appetite for risk, the action he’s got on his side and his own bias,” said John Delaney, chief executive officer of Dublin-based, the world’s largest prediction market. “If I were to ask you where you would find the expected value of IBM, would you ask a broker or go to the stock exchange? The aggregation of information that happens on an exchange typically provides better information than if you had several buyers and just one seller.”


Read the previous blog posts by Chris F. Masse:

  • BetFair-TradeFair (slightly) improve their blog, finally (it was about time) —and open 2 new sections: “prediction markets” and “financials”.
  • Control in Distributed Networks (Decisions 2.0: Distributed Decision-making)
  • What are enterprise prediction markets for?
  • BetFair sponsor medical doctor for jockeys.
  • Freakonomics @ Predictify
  • MyPronostic
  • Can you correctly forecast sales of music CDs?

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