AUDIO on the BetFair Premium Charges

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http://myfreefilehosting.com/f/65316b3dad_13.76MB

http://myfreefilehosting.com/f/e050785511_12.87MB

Go first to the 2 webpages above. Then, right-click the link, and download the files.

Racing UK discussion on the BetFair Premium Charges

PREVIOUSLY: BetFair impose new “Premium Charges”… Do BetFair gag the critics, too?

BetFair CEO David Yu had to come at the office on Sunday to assess and clean up the mess created by the arrogant British incompetents who devised the Premium Charges.

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UPDATE: Mark Iverson&#8217-s take

UPDATE:

http://myfreefilehosting.com/f/65316b3dad_13.76MB

http://myfreefilehosting.com/f/e050785511_12.87MB

Go first to the 2 webpages above. Then, right-click the link, and download the files.

Racing UK discussion on the BetFair Premium Charges

A list of the Betfair forum threads about the new premium charges.

A FaceBook group has been created to protest the new BetFair premium charges.

PREVIOUSLY: BetFair impose new &#8220-Premium Charges&#8221-&#8230- Do BetFair gag the critics, too?

The prediction exchanges that have fully embraced the prediction market approach

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These prediction exchanges present prices as probabilities (expressed in percentages):

HubDub

– InTrade .NET &#8230- [*] &#8230- would get the full point if they were to switch the label &#8220-price&#8221- for &#8220-probability&#8221- on their charts.

– NewsFutures &#8230- gets half a point. No mention of &#8220-probabilities&#8221- on their charts.

– Inkling Markets &#8230- gets a quarter of a point.

– TradeFair &#8230- gets an honorable mention, but won&#8217-t show its charts to the non-registered public. :(

[*] Which prefigures what InTrade .COM is going to be, soon, if I understood well my Deep Throat&#8217-s tip.

As for the ultra innovative YooPick, is it yet another case of &#8220-do what I say, not what I do&#8220-?&#8230- :-D

APPENDIX: Lance Fortnow is PMA compatible:

UPDATE: See the comments&#8230-

Do the top brass really tell everything to the trading employees? Do the EPM traders have access to all the primary indicators?

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Prediction markets: the future of decision-making – Companies are now making business decisions based on information employees provide via internal trading systems. – The Times of London – 2008-09-04

&#8220-We use them [“them” = the enterprise prediction markets] as another point in the decision-making process, alongside asking experts and other business leaders,&#8221- said Christina LaComb, a computer scientist in the R&amp-D lab at GE.

OK. You&#8217-re using enterprise prediction markets- you&#8217-ve gotten your name in the newspapers- you&#8217-re &#8220-cool&#8221-.

And our good friend David Perry&#8217-s gotten your money.

But do your event derivative traders have the same access as you do to &#8220-experts&#8221- and other &#8220-business leaders&#8221-?

Or do you leave them in the dark? In that case, your enterprise prediction markets would be clueless, useless, and worthless.

WORLDS MOST EXPERIENCED PREDICTION MARKET PRACTITIONER CASTS A DOUBT ON THE VALIDITY OF MSR, IN USE IN MOST PUBLIC PLAY-MONEY PREDICTION EXCHANGES AND IN MOST ENTERPRISE PREDICTION EXCHANGES.

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WE ARE BETFAIR. RESISTANCE IS FUTILE. YOU WILL BE ASSIMILATED.

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A list of the Betfair forum threads about the new premium charges.

A FaceBook group has been created to protest the new BetFair premium charges.

PREVIOUSLY: BetFair impose new &#8220-Premium Charges&#8221-&#8230- Do BetFair gag the critics, too?

Nigel Eccles (the CEO of HubDub) and Robin Hanson (the inventor of MSR) have some explaining to make about the extreme zigzagging of the Barack Obama event derivative (in blue on this static compound chart). Look at the right end of the chart.

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UPDATE:

Nigel Eccles:

There was a bug in that chart which is now fixed. However the excess volatility is still there. The problem is that our early markets were created with a liquidity parameter which was too low. That is fixed with more recent markets. However we are also looking at modifying the MSR in some significant ways.

Previously:

– the latest InTrade predictions

– Emile Servan-Schreiber&#8217-s post on market arbitrage

Is this a sign that the BetFair prediction exchange and the BetFair blog are not the best sources of information on the 2008 US presidential elections?

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Previously:

– the latest InTrade predictions

– Emile Servan-Schreiber&#8217-s post on market arbitrage