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August 2009 - Prediction Markets

What is a prediction market? What are some examples of prediction exchanges in action? Why is Betfair a 'prediction market' or 'exchange'? All your questions will be answered...

The Betfair Prof: "What does football forecasting have to do with Prussian soliders?"

What does football forecasting have to do with the number of Prussian soldiers kicked to death by horses? Thanks to Simeon Denis Poisson, the great scientist, mathematician and statistician, it has everything to with it....