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Would it be beneficial to legalize online gambling in the United States?

Massively, yes. We could start seriously betting on real-world events. It becomes harder to make crappy predictions ("If this bill isn't passed, crime will skyrocket!") when people can just check the going odds.

ETA: Much better explanation: http://squid314.livejournal.com/352406.html

set up your own bitcoin betting site and host it in antigua

Interesting.

Does something like that exist in other countries?

We've got this in Australia: http://www.sportsbet.com.au/betting/current-affairs But it's no-where near the level that article describes.

I worked next to the guys from Smarkets (https://smarkets.com) for a while. It looks like they're focussing heavily on sports betting now, but they'll do politics or media things when there's interest.

Not for us, apparently.

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