Session 1 of The Ticker ended last week, and Session 2 has begun. This time around Consensus Point and Gannett have opened up the play across multiple Gannett newspapers, and we are excited to see that readers are enthusiastically joining in the fun. The reasons for The Ticker’s success? 1. The content – The market was full of Olympics questions which appealed to both men and women. 2. The competition – To keep it interesting, players are are recognized for achieving both the highest net worth over the course of a session and for achieving the highest ROI on a weekly basis. 3. The prizes – In Session 1 and Session 2, we are giving away a $100 ROI prize every week and a $250 prize for the highest net worth over the course of the session.
Classic prediction market wisdom suggests that it’s all three that are keeping players engaged and encouraging them to share their knowledge. In this blog, we’ve written extensively on prediction market best practices, and we definitely practice what we preach. For The Ticker, we are offering well-aligned incentives to a diverse group and asking questions that have interest for them. And we are seeing that prediction markets work when you follow best practices. Session 1’s Olympic market was accurate 82% of the time. The crowd knew that Michael Phelps would win four gold medals days before the results were final, and predicted the point spread of the U.S. men’s basketball game versus France within one point.
Interested in knowing more? Visit our website at www.consensuspoint.com.
Or to play a real market, visit The Ticker.
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