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
[edit]- ^ 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. Archived from the original on February 3, 2016.
- ^ "Cricket prediction". Retrieved 18 December 2023.
- ^ "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" (PDF). Inside Knowledge Magazine.
- ^ Paul Stuart (February 2008). "The Prediction Addiction". Ranch & Coast. Archived from the original on 2012-09-11.
- ^ "Have a bet on Boeing's 787 arrival". News Corp. October 3, 2007.
- ^ Cord Blomquist (October 1, 2007). "Prediction Markets: Some assorted news". Marginal Revolution.
- ^ Lauren Foster (April 19, 2008). "Non-profits place a bet on prediction markets". Financial Times.
- ^ Forvetbet
External links
[edit]- bet2give.com - company website
- Jacobs, Vincent (2009), Prediction Markets: How They Work and How Well They Work (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"