
PredictIt: How It Works - Smaug123
https://www.predictit.org/About/HowItWorks?page=home
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ctlaltdefeat
Why aren't decimal odds used, a-la the established betting exchanges? The
system is equivalent without having to dedicate pages to explain confusing
terminology.

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lazzlazzlazz
I think this system is much easier to understand from the beginning. I
required essentially no explanations: interpreting probabilities as some
number between 0 and 1 seems more intuitive than betting odds and lines, which
I still don't quite grasp.

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gojomo
Agreed. This system of floating prices can also be easier to understand when
studying depth-of-order-books, or moving in-and-out of positions before an
event resolves. Those are essential for peer-to-peer prediction markets, but
often not offered by pure betting services.

(As an assist to people familiar to other systems, PredictIt could offer a
display of effective-odds as an option.)

