Bets of Bitcoin
A website where users can bet on real world events.
A predictions market is one in which bets are made towards the outcome of future events. Bet results are decided by the site moderators. The winners will get their wagers back plus will earn the wagers from those that lost (less a small commission paid to the site).
The returns will vary for the winners though as bets are time-weighted and there is a premium earned for those who place their wagers earlier versus those place a bet 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. The site pays half of the commission it receives to the person that created the bet statement.
The service was launched on August 14, 2011. On April 18th, 2012 there was nearly $5,000 USD worth of open bets on the site.