Bet2Give.com was an online prediction market company started in 2007 by Émile 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][3] It attracted some attention for featuring a bet on the Boeing 787 schedule slipping past the announced date.[4][5][6][7]
The company attracted some praise,[8][vague] 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."[9][10]
References
External links
- bet2give.com - company website
- Jacobs, Vincent (2009), Prediction Markets: How They Work and How Well They Work (PDF), M.S. thesis in economics, Katholieke Universiteit Leuven; analysis and performance comparison of Intrade, Iowa Electronic Markets, Betfair, Bet2Give, NewsFutures, Hubdub, the Foresight Exchange and Inkling Markets.
- An introduction of Bet2Give.com by Maria Bartiromo on CNBC's "Closing Bell"