Too Long; Didn't Read
Since 2010, the bookmaking market has shifted from a monopoly to a tight-competing place thanks to deregulation and the Internet. Since the Internet came into this business (2010), earnings by major bookmakers increased by 30% each year and players’ stakes increased by 500%. Jack Peterson (current CTO) created Augur (with Vitalik Buterin as counsellor), a prediction/oracle platform based on the Ethereum blockchain. Augur is a “3.0 prediction platform” based on a smart-contract. Users get in the “market” by buying “stocks” which are the outcomes of a ‘market’