Petrivevic

The Contract Detail was "Petriveic to be jailed for more than two years". 97%

He was sentenced for 6.5 years which we all know is more than the two year contract so why was this ruled a loss?

There were other contracts at 81% for more than 4 yrs, 57% - more than 5yrs and others.

Had my contract been "Petriveic to be jailed for between two and four years" I would accept the loss.

Not a great experience for a new chum dipping his toes in the water.

Looks to me like it was closed at 1.

[www.ipredict.co.nz]

Yeh - sure it was closed at 1 or whatever. Fact is, I lost the bet (and let's not delude ourselves because betting on an event that might or might not happening is what we're doing). I lost because the bet was badly expressed. "Petrivecec to be jailed for more than 2years". The man got more than 2 years. In some places a bookie welshing on a bet plike that, at the very least, would be run out of town.
Funnily enough iPredict has recognised their error and restored my portfolio sans any winnings that should be mine because the man got 6.5 yrs. i.e. > 2yrs.
Mother always said never play with the devil. :-)



Edited 1 time(s). Last edit at 04/27/2012 03:43PM by Kore.

"More than 2 years" means the same thing here as anywhere else. I can't see any problem here.. no one else has reported they saw it close at anything other than $1. Did you maybe misread your portfolio or history page?

iPredict don't tend to get tricksy about contract interpretations the way you suggest. In fact, they don't really have any interest in which way it closes ($0 or $1) since there are people with long and short position (positive or negative number of stocks) - some of whom will lose their money, some of whom will get $1 - regardless of the close price.

Kore,

Is there any chance that you mistakenly went short when you intended to take a long position i.e. you clicked on a 'buy''offer (which is accepting to sell shares and betting against the event occuring). Not trying to be a wise guy and my apologies if I'm teaching you to suck eggs, but there is nothing to indicate that you would not have been paid out if your position had been that Petricevic would be jailed for more than 2 years.

Thank you all - it's a misunderstanding on my part. Sorry iPredict and others who have responded.

I wondered who was going short on this one...

Kore: I hope you didn't get burned too badly, and will stick around.

Hi All,

Thanks to the traders for responding to this one. To be clear, the contracts closed at 1 because he received more than 2 years and more than 4 years in prison.

Kore, apologies for any confusion, and hopefully you stick around. We don't like to get litigious at iPredict, preferring instead to resolve issues and close stock as fairly and transparently as possible. Ideally sticking to common sense of interpretation as much as possible as there are sometimes aspects of subjectivity.

Cheers