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PredictIt: How It Works
- ctlaltdefeat 11y agoWhy aren't decimal odds used, a-la the established betting exchanges? The system is equivalent without having to dedicate pages to explain confusing terminology.
- lazzlazzlazz 11y agoI think this system is much easier to understand from the beginning. I required essentially no explanations: interpreting probabilities as some number between 0 and 1 seems more intuitive than betting odds and lines, which I still don't quite grasp.
- gojomo 11y agoAgreed. This system of floating prices can also be easier to understand when studying depth-of-order-books, or moving in-and-out of positions before an event resolves. Those are essential for peer-to-peer prediction markets, but often not offered by pure betting services. (As an assist to people familiar to other systems, PredictIt could offer a display of effective-odds as an option.)
- deleted 11y ago[deleted]