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By prospect   September 2006

Life or death gambles

Not everyone was dismayed by the North Korean missile test in July. In mid-June, the Dublin-based online betting exchange TradeSports had created a market on whether Korea would launch a missile test by the end of July. The winning punters’ joy, however, was short-lived, as it soon turned out that the specific criteria on which TradeSports had determined the market would be settled—an official confirmation of the launch by the US department of defence—had not been satisfied. The rise of online gambling has led to a number of markets on current events; one of the most…

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