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Make a Profit on Predictions

Posted: Sat May 10, 2008 4:47 am
by Accountable
I saw this story on 20/20 last night.

Who will win the Democratic nomination? Who will be the next president? When might Britney Spears go back to rehab? And who will be the next "American Idol"?



Don't look for guidance from TV pundits or gossip magazines. Instead, go to the Web site where people are putting their money where their mouths are: Intrade.com.



Intrade is a futures market, just like commodities markets where people make trades betting on the future prices of things like oil, gold and pork bellies. On Intrade, thousands of people bet on the outcomes of current events.



Here's how it works: If you're convinced that Hillary Clinton is headed for the White House, you can log onto Intrade.com and buy shares betting that she'll get the Democratic nomination. Right now, her share price is low, around 10 cents, because many think it's unlikely she'll be nominated. But if things start looking up for Clinton, more people will buy her shares, and the price of each share will rise. If she actually gets the nomination, each share will be worth a dollar and you will have made a hefty return on your investment.

www.intrade.com



Some people say this is gambling, but what about the lottery? At least this way you can apply your own intelligence and instinct instead of relying on pure luck.



What do you think? Anybody willing to try it?

Make a Profit on Predictions

Posted: Sat May 10, 2008 3:00 pm
by DrJ
That done it,,,,,,,,,,,You'll try anything once,,:yh_money

I don't know man,, this is a little to light hearted for the right wing:yh_hypno

It's got to be a conspiracy:yh_rotfl

Make a Profit on Predictions

Posted: Sat May 10, 2008 4:17 pm
by Accountable
DrJ;862430 wrote: That done it,,,,,,,,,,,You'll try anything once,,:yh_money



I don't know man,, this is a little to light hearted for the right wing:yh_hypno



It's got to be a conspiracy:yh_rotfl
:wah: Who said I tried it?? Lots of people are saying this is immoral. I'm not so sure about that.





And as for right wing: http://www.forumgarden.com/forums/showp ... stcount=25

http://www.forumgarden.com/forums/showp ... stcount=45

Make a Profit on Predictions

Posted: Sat May 10, 2008 4:24 pm
by Dweedle Dee
Seems kind of dumb to me, actually. But hey, who am I to say what others want to waste their money on?

I'm the person that can go to Reno or Vegas and not gamble, so my opinion is probably worthless.

Make a Profit on Predictions

Posted: Sat May 10, 2008 4:27 pm
by Accountable
Dweedle Dee;862461 wrote: Seems kind of dumb to me, actually. But hey, who am I to say what others want to waste their money on?



I'm the person that can go to Reno or Vegas and not gamble, so my opinion is probably worthless.
Your opinion could be worth thousands on that site. :D



20/20 was saying the predictions on that site are more accurate than any poll.