The Objectivity -according to BetFair

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BetFair Predicts (a blog run by BetFair) titled &#8220-The Power Of Objectivity&#8221- a post giving the latest odds produced by BetFair on the race for the White House.

The real &#8220-objectivity&#8221- would have been to quote the odds produced by the other prediction exchanges, too &#8212-InTrade, Iowa Electronic Markets, Betdaq, NewsFutures, HubDub, etc.

Midas Oracle is the only blog that lists prices and probabilities from all the prediction exchanges. No wonder, our daily readership is much, much bigger than the audience of all the other prediction market blogs combined. A blog that gives the odds of one exchange only is like a dead end &#8212-no one trusts a dead end.

Please, do support Midas Oracle.

The UKs Gambling Commission is after BetFair and Betdaq for in-running (in-play) betting.

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– Do you have any information about the customer profile in the in-running betting market (ie is it made up predominantly of specialist, knowledgeable betting customers)? &#8230- sources of information and time delays- availability of high-speed broadband- computer software packages that are specifically designed to assist in-running betting customers (known as ‘bots’).
– Do betting customers with traditional bookmakers and betting exchanges also take part in spread betting and is it a direct competitor to in-running betting?

UK&#8217-s Gambling Commission – PDF file

Via Adonis

UPDATE: IN-PLAY BETTING: BetFair is already compliant with the Gambling Commission&#8217-s first pointer.

Meet Nigel Eccles, a veteran of UKs betting exchange industry, and an innovator.

Nigel Eccles

Nigel Eccles (HudBud CEO – Previously with McKinsey, Betdaq, and BetFair-Flutter)

HubDub is developing a web application which will change the way people discover, track and interact with news stories.

His startup: HubDub – (What they are brewing: a news aggregator using some kind of prediction market mechanism.)

More info:

What we are developing is a social news aggregation site. Elements of it are similar to Digg but as a whole it is a totally unique concept (partially based on experience developing betting exchanges). The site will provide a whole new way of interacting with news and the site in turn generates its own news out of user interactions. Initially the site will be US focussed as it is the bigger market. The primary revenue stream would be advertising however there are a number of other very significant revenue opportunities once the site reaches some scale.

And, yes, they do have a blog. :-D

Read the previous blog posts by Chris. F. Masse:

  • Oprah Winfrey
  • Papers on Prediction Markets
  • The Journal of Prediction Markets
  • The 45-degree Line
  • Implied Probability of an Outcome –BetFair Edition
  • Justin Wolfers on Rudy Giuliani = not convincing… yet

The Global Betting Exchange

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The company behind BETDAQ will launch a new exchange in the near future. It is backed by significant players in the global sports trading market. It will offer breath of markets and level of liquidity unsurpassed in the betting exchange sphere. It wil target the retail exchange bettor. It will not be purple in colour.

Main investor: Dermot Desmond

Alleged investor: J. P. McManus

Other investors: [One or two surprises to come…]

Signed: Deep Throat


The Global Betting Exchange


Note to the Midas Oracle readers: Actually, there are two brand-new, real-money prediction exchanges (betting exchanges) that will pop up onto the prediction market scene soon. (That is, Global Betting Exchange is only one of them.)