Comments on: Carving a legal niche for prediction markets in the US http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/ Musings of a computer scientist and Yahoo on prediction markets, gambling, and estimating the odds of everything Thu, 11 Mar 2010 12:32:57 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Buck A Bean http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-1532 Buck A Bean Thu, 14 Jan 2010 07:09:08 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-1532 this story was a major talk in the media to raise a concern over all these issues. this story was a major talk in the media to raise a concern over all these issues.

]]> By: chess online http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-1531 chess online Thu, 14 Jan 2010 07:05:55 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-1531 Many countries are providing crisis/issues management training to members and executives of their team. Many countries are providing crisis/issues management training to members and executives of their team.

]]> By: docket http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-1530 docket Thu, 14 Jan 2010 07:03:12 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-1530 Online gambling, extreme fighting issues for countries. Online gambling, extreme fighting issues for countries.

]]> By: libel http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-1529 libel Thu, 14 Jan 2010 06:57:03 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-1529 New York Governor Pataki Frees British Online Gambling Executive.He resigned as Sportingbet's chairman after his arrest. New York Governor Pataki Frees British Online Gambling Executive.He resigned as Sportingbet’s chairman after his arrest.

]]> By: chicago injury lawyer http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-1236 chicago injury lawyer Fri, 06 Nov 2009 21:29:37 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-1236 That's a very good analogy, David! That’s a very good analogy, David!

]]> By: David Pennock http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-16 David Pennock Wed, 25 Feb 2009 23:28:01 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-16 Keith: agreed. I would add that a bookmaker seems equivalent to a market maker on an exchange. Keith: agreed.

I would add that a bookmaker seems equivalent to a market maker on an exchange.

]]> By: Keith Tips http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-15 Keith Tips Fri, 20 Feb 2009 12:07:36 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-15 Being a professional gambler I always get annoyed when people compare a bookmaker with a betting exchange. It is like comparing a bank with a casino, as both use customers money to initiate transactions with the odds against them. A bookmaker simply makes a book on an event, hence the name bookmaker. They add an over round (as large as they want as long as they can get folk to bet the odds). A betting exchange on the other hand does not make a book, they don't even bet! They work exactly the same way as the stock market, allowing customers to buy/sell on the system. Being a professional gambler I always get annoyed when people compare a bookmaker with a betting exchange. It is like comparing a bank with a casino, as both use customers money to initiate transactions with the odds against them.

A bookmaker simply makes a book on an event, hence the name bookmaker. They add an over round (as large as they want as long as they can get folk to bet the odds).

A betting exchange on the other hand does not make a book, they don’t even bet! They work exactly the same way as the stock market, allowing customers to buy/sell on the system.

]]> By: Antonio http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-14 Antonio Sat, 24 May 2008 02:08:08 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-14 You have some valid points there. Especially point number 2, I think anything that involves any type of skill should be allowed to flourish. Heck the government taxes everything else, just legalize this and tax it. You have some valid points there. Especially point number 2, I think anything that involves any type of skill should be allowed to flourish. Heck the government taxes everything else, just legalize this and tax it.

]]> By: criminal pardon http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-13 criminal pardon Wed, 21 May 2008 21:04:51 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-13 isnt that kind of over stepping legal jurisdiction. If they are european business people conducting their affairs overseas, how can american law enforcement find them guilty and charge them? It sucks that America was founded by the prudes and that why there is such bizarre restraints on such things as gambling. as long as it does not become habitual it shouldnt be seen as a social perversion. isnt that kind of over stepping legal jurisdiction. If they are european business people conducting their affairs overseas, how can american law enforcement find them guilty and charge them?
It sucks that America was founded by the prudes and that why there is such bizarre restraints on such things as gambling. as long as it does not become habitual it shouldnt be seen as a social perversion.

]]> By: Midas Oracle .ORG » Blog Archive » Does wisdom require markets? http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/comment-page-1/#comment-12 Midas Oracle .ORG » Blog Archive » Does wisdom require markets? Fri, 09 Feb 2007 13:57:00 +0000 http://blog.oddhead.com/2006/10/17/carving-a-legal-niche-for-prediction-markets-in-the-us/#comment-12 [...] So am I jumping ship too? No. Despite the remarkable success of averaging, I believe prediction markets still tend to perform better when push comes to shove. The learning curve can and should be reduced through simpler user interfaces. Automated market makers are a great step on that direction, perhaps best exemplified at Inkling Markets. As for the image problem of markets and gambling — the legal, social, and political barriers — I have some thoughts but no good answers. Read the last blog posts by David Pennock:confab.yahoo on prediction markets: Updateconfab.yahoo on prediction markets: Sunnyvale, Dec 13 5:30pMap of TradeSports prices for US Senate electionStore the link to this Midas Oracle blog post as one of your social favorites / bookmarks with: [...] [...] So am I jumping ship too? No. Despite the remarkable success of averaging, I believe prediction markets still tend to perform better when push comes to shove. The learning curve can and should be reduced through simpler user interfaces. Automated market makers are a great step on that direction, perhaps best exemplified at Inkling Markets. As for the image problem of markets and gambling — the legal, social, and political barriers — I have some thoughts but no good answers. Read the last blog posts by David Pennock:confab.yahoo on prediction markets: Updateconfab.yahoo on prediction markets: Sunnyvale, Dec 13 5:30pMap of TradeSports prices for US Senate electionStore the link to this Midas Oracle blog post as one of your social favorites / bookmarks with: [...]

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