11–20 of 28 posts
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
"wisdom in the crowd" seems like a contradiction. Nice phrase.
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
and as far as I know they are the best mechanism to predict the outcome of an election. It's an honest opinion since they are betting their own money independently of their personal preferences.
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
and as far as I know they are the best mechanism to predict the outcome of an election. It's an honest opinion since they are betting their own money independently of their personal preferences.
Earlier quoted context omitted.
and as far as I know they are the best mechanism to predict the outcome of an election. It's an honest opinion since they are betting their own money independently of their personal preferences.
Are you suggesting that people will make bets in a purely rational way, and only by considering (in this case) what they know about the UK election? I suggest that plenty of people will either bet emotionally, choosing the option they prefer, or psuedo-rationally (i.e. reasoning poorly). I expect many will also use the odds provided on the website to guide their choices.
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
The user pays money in the hope of winning more back - it's gambling however you slice it. There is no information of any value here outside the context of the site itself - unless you're claiming that your audience is a representative sample of the UK population?
People who do this consistently over time, tend to accumulate more money, and thus accrue more influence as time goes on. Also people who bet foolishly, e.g. just bet on who they like to see winning, create opportunities for other people to make money of their back.
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
The user pays money in the hope of winning more back - it's gambling however you slice it. There is no information of any value here outside the context of the site itself - unless you're claiming that your audience is a representative sample of the UK population?
That describes investment as well.
Earlier quoted context omitted.
and as far as I know they are the best mechanism to predict the outcome of an election. It's an honest opinion since they are betting their own money independently of their personal preferences.
Are you suggesting that people will make bets in a purely rational way, and only by considering (in this case) what they know about the UK election? I suggest that plenty of people will either bet emotionally, choosing the option they prefer, or psuedo-rationally (i.e. reasoning poorly). I expect many will also use the odds provided on the website to guide their choices.
Earlier quoted context omitted.
The user pays money in the hope of winning more back - it's gambling however you slice it. There is no information of any value here outside the context of the site itself - unless you're claiming that your audience is a representative sample of the UK population?
> The user pays money in the hope of winning more back - it's gambling however you slice it. That describes investment as well.
Earlier quoted context omitted.
It's a prediction market - different than a pure gambling website. The prices are set in realtime by the users so there is 'wisdom of the crowd' information for the public.
The user pays money in the hope of winning more back - it's gambling however you slice it. There is no information of any value here outside the context of the site itself - unless you're claiming that your audience is a representative sample of the UK population?