Bets Of Bitcoin: Difference between revisions
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Revision as of 21:48, 18 April 2012
A predictions market in which bets are made towards the outcome of future events.
The concept is that a statement is made and the wagers are made on whether the statement will become true at the time the event occurs. Those agreeing with the statement will earn 90% of the wagers placed on the bet. The returns will vary for the winners though as bets are time-weighted and there is a premium earned for those who placing their wagers earlier versus those placing bets later.
Anyone can create a bet statement, though new bets are vetted to eliminate bets whose outcome can't be easily determined or is easily manipulated and for bets that the site moderators would rather not see listed.
History
This service was announced on August 14, 2011[1]. On April 18th, 2012 there was nearly $5,000 USD worth of open bets on the site.
External Links
- BetsOfBitco.in Website