Thursday, September 24, 2009

Global Warming: Place your bets!

So the latest new hotness at inTrade is that you can bet on global warming... specifically... if this year's average temperature is going to be among the five warmest on record.  Here is the link to Intrade Global Warming trading. So if you are a believer in global warming and you want to make those global warming heretics pay, then game on! If you are a global warming hater now you can bet against ManBearPig, then game on!

Ok so if you are not familiar with inTrade, it is a prediction market where you can bet for or against certain events occuring. For instance you could have bet that Barak Obama would win or lose the presidential campaign.  The pricing system is worked out the same way the stock market is.... which is to say it's basically ebay.  You have the current going bid price (the current willingness to pay for buyers) and the ask price (the current willingness to pay for sellers). If you BUY and the event happens you get paid out, if it doesn't you have to pay out. The details can be found here at How Intrade Works.

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