Bet2Give

Bet2Give.com was an online prediction market company started in 2007 by Emile Servan-Schreiber and Maurice Balick, as an offshoot to their NewsFutures. Bet2Give's premise was that having the winnings going automatically to a charity of the winner's choice wouldn't seriously interfere with the efficacy of the prediction market. Servan-Schreiber had conducted research a few years earlier into whether betting with "play money" reduced prediction market accuracy, with encouraging results.[1]

The company offered typical prediction markets, such as betting on the outcomes of political races.[2] It attracted some attention for featuring a bet on the Boeing 787 schedule slipping past the announced date.[3][4][5][6]

The company attracted some praise,[7] but also criticism, in particular for trendiness, with one commentator saying it reflected "the tendency to stick a gift to a non-profit into any other kind of financial transaction just to draw eyeballs to a site or customers to a store."[8]

References

  1. ↑ Emile Servan-Schreiber; Justin Wolfers; David M. Pennock; Brian Galebach. "Prediction Markets: Does Money Matter?". Electronic Markets. 14 (3): 243–251. doi:10.1080/1019678042000245254.
  2. ↑ See e.g., Michael Miller (January 14, 2008). "Internet start-up has users betting for charity". Press of Atlantic City.
  3. ↑ "How to bet on the 787's arrival". Seattle Times. September 30, 2007.
  4. ↑ Victoria Axelrod; Jenny Ambrozek (March 2008). "Co-creating an organisation's future" (PDF). Inside Knowledge magazine.
  5. ↑ Paul Stuart (February 2008). "The Prediction Addiction". Ranch & Coast.
  6. ↑ "Have a bet on Boeing's 787 arrival". News Corp. October 3, 2007.
  7. ↑ Cord Blomquist (October 1, 2007). "Prediction Markets: Some assorted news". Marginal Revolution.
  8. ↑ Lauren Foster (April 19, 2008). "Non-profits place a bet on prediction markets". Financial Times.

External links

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