Note that you can also place your bets on
Predictious and win Bitcoins if you are correct, here are the relevant markets:
In Predictious, you set and know your odds from the beginning.
Here is an example of how it works:
If you want to bet 1 bitcoin on "
brazil will win the world cup", we can consider different scenarios depending on the price per share you’re willing to pay:
- If you buy shares at 3mB each, then you need to buy 333 shares (333 * 3mB = 1Bitcoin). If you win, you will win 10mB per share, so you will win 333 * 10mB = 3330mB = 3.33 Bitcoins (making a 2.33 Bitcoin profit)
- if you buy shares at 4mB each, then you need to buy 250 shares (250 * 4mB = 1Bitcoin). If you win, you will win 10mB per share, so you will win 250 * 10mB = 2500mB = 2.5 Bitcoins (making a 1.5 Bitcoin profit).
- if you buy shares at 5mB each, then you need to buy 200 shares (200 * 5mB = 1Bitcoin). If you win, you will win 10mB per share, so you will win 200 * 10mB = 2000mB = 2 Bitcoins (making a 1 Bitcoin profit)
So basically, if you buy a contract, you will win 10mB for each share of this contract you own (if you’re correct). On the other end, if you sell a contract (because you think an event will not occur), you win the price you sell for.
If you click on the
Market depth tab, you can see the available ask/bid price (for example someone is selling 3 shares at 2.65mB; 10 shares at 2.85mB, etc.). However you can also set your own price, and wait for someone to take the opposite bet.