Hacker News new | ask | show | jobs
by glomph 4397 days ago
A problem with this is it gives a huge incentive to bet as late as possible. You know where the money is you have more information about the event and so your bet can be better placed. Unfortunately this will mean there isn't any point betting later either as people will not have bet earlier.

Bitbet attempts to solve this by giving a higher weight to earlier bets. Not sure how well that works but the site seems to be used.