Monthly Archives: March 2010

BetFair App for the iPhone and the iPad -> BetFair Rattle

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As I understand it, BetFair has one iPhone App for the British bettors (only).

And they&#8217-ve just released a new one (BetFair Rattle), also only for the UK Apple App Store.

BetFair:

BETFAIR LAUNCHES FREE IPHONE APP FOR FOOTBALL FANS

BETFAIR, the world&#8217-s biggest online sports betting company, has released a nifty new application for football fans to compete against each other in order to make their club the most supported on the iPhone.

The &#8216-app-tly&#8217- named Betfair Rattle provides a quick and easy interface for fans to check fixtures and then turn their phone into a rattle with which to back their side. Support for a particular team increases according to how much fans shake their phones before the match kicks-off.

In time, Betfair hopes to release a Betfair Rattle league table, so if you&#8217-re sitting bottom of the Premier League and have lost 10 in a row your team can still get three points at the weekend if you get your rattle out. For instance, Portsmouth fans will be glad to know they got three points at Anfield last night, even if they don&#8217-t have the bragging rights in real life.

Betfair&#8217-s Mobile Manager Richard Hewitt said: &#8220-First and foremost we wanted to create something where fans compete against each other to show support for their teams, but we also wanted to provide something that was genuinely useful by making sure it was the most simple way of checking upcoming fixtures on the iPhone.

&#8220-So many apps are slow and clunky when all a user wants is the information there and then, and that&#8217-s what this app provides.

&#8220-Above all else though, it&#8217-s a bit of fun and we hope football fans across the country will be seen shaking their iPhones at stadiums around the country come 2:55pm every Saturday.&#8221-

To download the app go to:
http://itunes.apple.com/gb/app/betfair-rattle/id360162909?mt=8

http://iphone.betfair.com/

What has been the best InTrade prediction market ever? Has the ObamaCare prediction market at InTrade been ahead of the commentary?

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Jason Ruspini (who feels that the health care reform proposal might well be adopted) wanna feedback from you, folks.

  1. Which InTrade prediction market(s) has/have been ahead of the Press (rather than the other way around)? What is/are the best (most divergent from the commentary, and correct) InTrade prediction market(s) in people&#8217-s memories?
  2. Do you sense that the ObamaCare prediction market at InTrade fits these 2 criteria?

UPDATE: I asked The Brain whether he meant generalist media or political media, and he meant &#8220-generalist&#8221-. That makes all the difference in the world.

Prediction Market Chart

ADDENDUM

More info on health care reform on Memeorandum.

Previously: Insider trading in the InTrade prediction market on health care reform?

Max Keiser weighs in on potential insider trading and hypothetical manipulation in the ObamaCare prediction market at InTrade.

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Max says that the political prediction markets are &#8220-routinely manipulated&#8221- and we often see &#8220-price rigging&#8221-&#8230-

9:57 into:

Previously: What has been the best InTrade prediction market ever? Has the ObamaCare prediction market at InTrade been “ahead of the commentary”?

Dear MO reader: Why you should try Predictalot

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Why should you try Predictalot?

Why does the CFTC allow the Cantor Exchange and not InTrade?

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Joe Weisenthal has a small opinion piece on why the CFTC allows real-money prediction markets on movie business, and bans those on politics or sports. The problem in the piece is that Joe is 100% wrong.

  1. Joe says that there can&#8217-t be hedging in politics. Wrong. You can hedge your political ads on InTrade.
  2. Joe says that there can&#8217-t be hedging in sports. Wrong. Businesses that operate inside a stadium could hedge the risk of the home team losing (which means less business for them).

So. why does the CFTC shy away from hedging on sports and politics? &#8211-&gt- Politics. The CFTC is afraid of the US Congress, who would object to politics and sports &#8220-gambling&#8221-.

The CFTC is a weak institution, in the DC sphere of power. In the recent past, the CFTC lost one important battle against other parts of the US government &#8212-even though it was the CFTC that was on the right side of the issue at the time. With politics and sports betting, the CFTC does not want to lose another battle. It is a question of survival.