Finance:Bet2Give
Bet2Give.com was an online prediction market company started in 2007 by Émile Servan-Schreiber and Maurice Balick, as an offshoot to their NewsFutures. Bet2Give's premise was that having the winnings going automatically to a charity of the winner's choice wouldn't seriously interfere with the efficacy of the prediction market. Servan-Schreiber had conducted research a few years earlier into whether betting with "play money" reduced prediction market accuracy, with encouraging results.[1]
The company offered typical prediction markets, such as betting on the outcomes of political races.[2][3] It attracted some attention for featuring a bet on the Boeing 787 schedule slipping past the announced date.[4][5][6][7]
The company attracted some praise,[8][vague] but also criticism, in particular for trendiness, with one commentator saying it reflected "the tendency to stick a gift to a non-profit into any other kind of financial transaction just to draw eyeballs to a site or customers to a store."[9][10]
References
- ↑ Emile Servan-Schreiber; Justin Wolfers; David M. Pennock; Brian Galebach (2004). "Prediction Markets: Does Money Matter?". Electronic Markets 14 (3): 243–251. doi:10.1080/1019678042000245254.
- ↑ See e.g., Michael Miller (January 14, 2008). "Internet start-up has users betting for charity". Press of Atlantic City. http://www.highbeam.com/doc/1P3-1412341491.html.
- ↑ "Cricket prediction". https://cricket-betting.com/match-prediction.
- ↑ "How to bet on the 787's arrival". Seattle Times. September 30, 2007.
- ↑ Victoria Axelrod; Jenny Ambrozek (March 2008). "Co-creating an organisation's future". Inside Knowledge Magazine. http://hanson.gmu.edu/press/Inside-Knowlege-3-08.pdf.
- ↑ Paul Stuart (February 2008). "The Prediction Addiction". Ranch & Coast. http://www.ranchandcoast.net/archives/february2008/business-wealth.html.
- ↑ "Have a bet on Boeing's 787 arrival". News Corp. October 3, 2007. http://www.news.com.au/have-a-bet-on-boeings-787-arrival/story-0-1111114559453.
- ↑ Cord Blomquist (October 1, 2007). "Prediction Markets: Some assorted news". Marginal Revolution. http://marginalrevolution.com/marginalrevolution/2007/10/prediction-mark.html.
- ↑ Lauren Foster (April 19, 2008). "Non-profits place a bet on prediction markets". Financial Times. http://www.ft.com/intl/cms/s/0/4c2f786e-0da7-11dd-b90a-0000779fd2ac.html#axzz1tWoOFLO8.
- ↑ Forvetbet
External links
- bet2give.com - company website
- Jacobs, Vincent (2009), Prediction Markets: How They Work and How Well They Work, http://vincentjacobs.com/thesis/Vincent%20Jacobs%20(2009).%20Prediction%20Markets%20-%20How%20They%20Work%20and%20How%20Well%20They%20Work.pdf, M.S. thesis in economics, Katholieke Universiteit Leuven; analysis and performance comparison of Intrade, Iowa Electronic Markets, Betfair, Bet2Give, NewsFutures, Hubdub, the Foresight Exchange and Inkling Markets.
- An introduction of Bet2Give.com by Maria Bartiromo on CNBC 's "Closing Bell"
 |  |
