Intrade Betting Review
Intrade is an online betting exchange site that allows customers to purchase contracts on whether or not a future event will occur. The site was originally devised in 1999 by John Delaney, an Irish native. In 2003, Intrade was acquired by Tradesports, who run a couple of other betting and trading exchange sites. Customers are able to utilize both Intrade.com, which uses real money, and Intrade.net which only uses play money. The prediction based information and betting speculation from Intrade has also allowed the company to provide information to various companies and institutions including governments, news stations, banks and financial firms.
- Deposit Bonus:
- Signup Code:
- Rakeback: VIP
- Network: Independent
- Mac Friendly: No
Financial Betting At Intrade
Finances are one of Intrade's biggest markets. Here customers can make contractual betting exchanges on sub-markets that include the Dow Jones Index, S&P 500, currencies, credit ratings, company IPOs, and commodities. Customers are able to place a contractual exchange by selecting any of the various contracts up for bidding and trading. These contracts speculate that a specific event will occur in a particular way, for instance a particular candidate winning a future election.
Bids are placed on a percentage scale between 0 and 100. In this case 0 denotes that the event did not occur as speculated and 100 denotes that the event occurred exactly as predicted. Customers can make bids such as 65.0 on a presidential candidate winning an election. If that candidate does win, the percentage is 100 and the winnings are calculated as the difference of the speculated bid and the outcome. For this example, this comes out to 35 points, with each point being valued as $0.10 each resulting in a total earning of $3.50.
Other Types of Betting At Intrade.com
The aforementioned betting exchange format can also be used on Intrade's other markets. Climate and weather contracts can be exchanged regarding predictions on year long weather speculations, gas price contracts can be exchanged, entertainment events such as film awards are available and a host of political based speculative markets are always present. Customers can trade a multitude of contracts at the same time on this betting site and contracts are not locked, instead they can be traded before and during events for minor gains in profit or to prevent heavy losses when a speculation proves to be incorrect.
Intrade Betting Bonuses And Promotions
Intrade does not offer any bonuses or promotions for first time or existing customers.
Intrade Deposit And Payment Methods
Intrade allows customers to fund their account via bank transfer, check, Visa credit, MasterCard credit or Firepay. All banking methods carry a $25 deposit minimum while credit card deposits also carry a $250 maximum limit until account and banking information has been verified. Deposit checks of $500 or more have their shipping and handling fee covered by Intrade. All contracts that are purchased and sold are charged a commission of $0.05.
Withdrawals can be performed through whichever deposit method the customer originally used. Bank wire transfer withdrawals incur a $20 fee; Check withdrawals incur an issuing fee while customers who request more than one check a month also being charged a $10 administration fee per each additional check.
Intrade Betting Website Safety And Customer Support
Intrade can be contacted via e-mail, live chat, telephone and fax. The betting site uses a 128 bit SSL digital encryption system to transfer all private and sensitive banking information to and from Intrade. All customer accounts are segregated and have a freeze lock function that freezes a customer's account when a purchase or trade is made in order to ensure that the customer is able to cover any potential loses that may come from making a bet. This freeze lock does not prevent customers from making multiple bets or exchanges but does inhibit customers from making many purchases if they are not able to cover potential losses of their currently purchases with their current amount of funds.