The BetFair and InTrade websites are going to be blocked in France…

Posted on February 23, 2010 by admin

&#8230- unless they fork over &#8220-in between 52,000 euros and 215,000 euros&#8221- for a 5-year period.

Is that regulation or extortion?

Expressing betting prices as percentages

Posted on February 22, 2010 by admin

Can I choose my style of odds?

We show percentage odds by default, but you can select the odds display of your choice from the top of every page. We offer American, fractional, decimal and percentage odds. Because we allow fans to set their own odds you may see some strange looking fractional or American odds, we recommend percentage odds as we think they are the most flexible and readable choice.

Does anybody (in Great Britain or elsewhere) disagree with that? Explain your view in the comments.

I do agree with Smarkets.

SportingExchange Financial Statement for Year Ended 30 April 2009

Posted on February 22, 2010 by admin

&#8220-The profit on ordinary activities for the year was ?24.8m (2008 ?50.5m). &#8230-.During the year the company disposed of its investments in BDD Holding A/S and Invest World A/S, two companies in Denmark, which closed during the year. The company recognised a loss on disposal of these investments of ?11.9m).&#8221-

I am trying to determine whether the loss of ?11.9m relates to Betfair&#8217-s acquisition of Pokerchamps.

Betfair Australasia Pty Ltd had, according to Reuters, recorded a net loss of around A$11.8 million for the year to the end of April 2009. Betfair&#8217-s marketing costs had allegedly increased to A$7.7 million for the year, up from A$1.3 million, &#8220-following the lifting of bans on interstate advertising&#8221-.

Smarkets better than BetFair and InTrade

Posted on February 21, 2010 by admin

Smarkets now allows you to set your own odds in the format of your choice &#8212- percentages, fractions, decimals, or American odds.

External Link: Smarkets

Rejection of the patent claims involving a method of hedging risks in commodities trading

Posted on February 21, 2010 by admin

Wikipedia:

The applicants (Bernard L. Bilski and Rand Warsaw) filed a patent application (on 10 April 1997) for a method of hedging risks in commodities trading. Such patent claims are often termed business method claims. […] Bilski&#8217-s method claim was patent-ineligible because it did not “transform any article to a different state or thing.” […]

It has been widely reported that the Bilski decision will call into question the validity of many already issued business method patents. […]

Read the whole thing.

Via our Jason Ruspini

Whats wrong with soccer betting

Posted on February 21, 2010 by admin

I have been browsing thru the excellent Smarkets prediction markets on soccer (a.k.a. association football). You have 3 possibilities for betting:

– the home team wins-
– the home team loses-
– there is a draw.

The soccer rules (which allow for a draw) make me uncomfortable for betting on the outcome of a match. How can you assess the probability of a draw? I don&#8217-t get it. The Soccer Federation (FIFA) should get rid of &#8220-draws&#8221- in soccer. As for forecasting and betting, it is annoying.