TradeSports
Encyclopedia
Tradesports was an online trading exchange
website whose members speculate on the outcomes of future sports events. Founded by John Delaney in 2000, and located in Dublin, Ireland
, by 2005 it reported 50,000 members and an average monthly volume of four million trades.
Tradesports' sister website, Intrade.com (founded in 2001 and acquired by Tradesports in 2003), is a prediction market
for all non-sports-related events.
On November 18, 2008, it was announced that TradeSports would cease operations and expire all open contracts at prices not equal to 0 or 100, even though the site stated that all funds were segregated and that contracts would all be expired at 0 or 100 depending on the outcome of the underlying event, with Tradesports merely acting as an escrow
agent.
Betting exchange
A betting exchange is an entity which provides "trading" facilities for retail or bookmaker customers to buy and sell contracts. Contracts are structured as binary options. Some betting exchanges may also offer CFD products...
website whose members speculate on the outcomes of future sports events. Founded by John Delaney in 2000, and located in Dublin, Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
, by 2005 it reported 50,000 members and an average monthly volume of four million trades.
Tradesports' sister website, Intrade.com (founded in 2001 and acquired by Tradesports in 2003), is a prediction market
Prediction market
Prediction markets are speculative markets created for the purpose of making predictions...
for all non-sports-related events.
On November 18, 2008, it was announced that TradeSports would cease operations and expire all open contracts at prices not equal to 0 or 100, even though the site stated that all funds were segregated and that contracts would all be expired at 0 or 100 depending on the outcome of the underlying event, with Tradesports merely acting as an escrow
Escrow
An escrow is:* an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money and/or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of...
agent.