parimutuel betting

After working on the system for a bit I finally re-launched Open Prediction Marktets Beta site.

The beta.openpredictionmarkets.org site has two goals:

• To serve as the place running the leading edge of my prediction market code
• To help the Drupal community make more accurate predictions about its future

So, I read the wikipedia page on parimutuel betting and felt like that presents a similarly predictive market without the complexities of trying to build a markets concept with trading and all the fun that comes from matching trades. I really got stuck last time on two elements:

• The trading concept requires a lot of extra calculations and overhead, those lead to a complex system which leveraged a lot of contributed modules...