How Does Qmarkets Prediction Markets Software Work?
Qmarkets offers a robust software for running and managing prediction markets programs online. The process can include any number of people with applicable knowledge about the topic you want to forecast. At the beginning of the session you present your participants with a list of questions and grant each user with a certain amount of virtual money.
During the time you run the prediction markets program, every question performs like a stock in a virtual market. The participants are invited to make a prediction about the future result, and decide how much of their virtual money they would like to invest on this prediction.
The participants are exposed to the overall dynamics of this special market, so they can login to the Qmarkets platform at any time and see how much money was invested for and against each question, or more exactly – they can follow up on the current market “price”, which is calculated by the Qmarkets system. This market price provides eventually the probability for the event to occur.
This behavior creates a unique dynamics, encouraging participants to take part and “place their bets” on the future results. The participants’ natural desire to win, encourages them to take the time and think about the question and make predictions that they believe will eventually occur.