Interesting tidbit I found. How accurate is the Intrade predictions on the elections if none of the bettors are residents (or non-voters) of the USA?
I also know without a doubt that it is illegal to use a U.S. Bank to send or receive money to Intrade.
So.............how much has OT bet? :lol:
Q: What is Betfair?
A: Betfair, based in the United Kingdom, is the world's largest internet betting exchange. Rather than having a bookmaker create odds, the odds for every bet are determined by the market of bettors, working similarly to a stock market. Bettors can either "Back" (buy) or "Lay" (sell) a given bet at certain odds, and the odds move as Backs and Lays are matched. Betfair is legal in the UK and other countries, but it is illegal to bet money on Betfair as a resident of the United States.
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Q: What is Intrade?
A: Intrade, based in Ireland, is a prediction market which allows individuals to trade contracts on whether future events will or will not occur. For any given contract, the value at expiration is either 100 (if the event happens) or 0 (if it does not). Contracts therefore trade between 0 and 100 at all times, with the price representing the market's prediction for the likelihood of that event. Intrade is legal in the Republic of Ireland and other countries, but it is illegal to bet money on Intrade as a resident of the United States.
I also know without a doubt that it is illegal to use a U.S. Bank to send or receive money to Intrade.
So.............how much has OT bet? :lol: