Betting the future online |
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| Authors: | Professor Leighton Vaughan Williams |
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| Institution: | Director of the Betting Research Unit, Nottingham Business School at Nottingham Trent University. His primary research is in information efficiency in financial and betting markets, with a linked interest in forecasting methods. He is editor of Information Efficiency in Financial and Betting Markets, published by Cambridge University Press, 2005. |
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| Abstract: | The Internet has brought, among other things, the online betting exchange. From desks in the City or from laptops on sunny beaches, those in the know or out of it can place bets with each other on anything under the sun, whether likely—Australia beating England at cricket—or the reverse. If you have a hunch that a genetically engineered Tyrannosaur will wander down Oxford Street next year, and if you want to put money on it, Internet betting exchanges will find someone to accommodate you. Leighton Vaughan Williams explains how a simple change in tax regime has brought something other than just a more efficient gambling system. It has created a strangely accurate way of foretelling the future. |
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