I've seen similar sites and I just don't understand it well enough. Say I want to say YES for an item and it theres a green "BID" price and a red "sell" price, which would I pick? I assume it would be the green one or something. And my payout would be 10? Its confusing to me. I wish they just said click here if you want yes, you pay this. Click here if you want no you pay this price. Payout is always 10mbtc. Please explain it for me, I apologize but would like to give your site a shot once I understand it better.
If you think an event will occur, you need to buy shares (the green button). The price indicated in the green button is the ask, at which you can immediately buy a share. If your prediction is correct, you will receive 10mBTC per share. So assuming you paid your shares 2 mBTC, you will make 8 mBTC profit per share (4:1 odds). You can also place a limit order to a price lower than the ask, and wait for the price to go down, if you think it will.
If you think an event will NOT occur, you can sell shares. You can sell even if you don't own a share, that's called short selling. In that case, you will own a short share. Short shares are redeemed at 10 mBTC if the event does NOT occur.
Maybe you may try to add some more sports betting oriented predictions and attract gamblers from that scene.
That would make Predictious to seem a little more like Betfair (P2P wagering) but would boost traffic. Players should add some daily sports prediction lines.
More flexible rules would be appreciated in order to add some sports betting oriented predictions: moneyline, spreads, totals (over/under), sports props, etc.
That may be an idea worth considering.
Cheers!
