Prediction work is serious business for scientists developing new methods for establishing outcomes.
The predication business is a constantly expanding industry that online gambling chiefs have to concern themselves with every day, in the creation of odds and their money making endeavors. A new process now arrives on the scene to be thrown into the mix with the development of Augur. This now makes way in allowing participants to gamble real money on any selected future event of their choice.
With the Augur gambling software having been thrown into the equation, here is something that if eventually legalized will able to compile the odds, collect the bets and also distribute all the winnings. The prices generated alone are enough to give those book operators in Nevada a little something to worry about, as to keep the Augur software and its system running, only approximately 1% of every pot is set aside.
Although things have not yet reached the state where the software will be made readily available in casinos and Poker rooms, the potential for sports betting seems to be an ideal fit. Bitcoin is used exclusively for all transactions and in lots of ways was the inspiration for this prediction technology. The software offers a peer to peer de-centralised marketplace as does the Bitcoin digital currency, and is the result of recent breakthroughs in the field of computer science.
The purpose of these particular platforms is to allow the exchange of services and goods on a platform that is controlled and administered entirely by computers. The software will be run on a "blockchain" which in essence is a shared database for implementing trades that are executed and maintained solely by the users.
Etherium, is a decentralised platform that works in conjunction with the Augur software and combined they nullify any possibility of fraud or 3rd party interference. However, the 20 year old creator Joey Krug and his prediction market software still have to wait on the US Dept. of Justice. It will be they will decide on it being used for sports gambling with the potential to win real money.
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