WWW - Posts tagged Intade at BloggingStocks

intade posts

Clinton's primary bet - turning $100 into $10,000

Posted Jan 10th 2008 3:03PM by Tom Taulli (RSS feed)
Filed under: Presidential Elections

So far, it's been a topsy-turvy presidential race. Of course, now the pundits are pontificating on how the pollsters missed the Hillary Clinton victory in New Hampshire.

But, there was also a big miss on the international gambling markets.

That is, on the Intrade prediction site, there was a 100-to-1 odds bet for a Hillary win (the website is based in Dublin, which I presume is a bit friendlier than the U.S. about online gambling). Yes, a mere $100 wager could have turned into a cool $10,000.

For the most part, the thinking is that Intrade tends to be fairly accurate. After all, the "profit motive" can be very powerful.

But sometimes things go awry.

So what's the sentiment on Intrade? Yes, people are wagering that Hillary will become the nominee (with a 59% probability).

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates DealProfiles.com.