11/7    http://tradesports.com House GOP control now at ~ 10, Senate back to ~ 65.
        \_ What do these numbers mean?
           \_ basically 0 means people think it will not happen
              100 means people think it's guaranteed to happen
              \_ Does that mean that if I bet on GOP control of house, I get
                 back 10X what I bet if they win?
                 \_ if you buy at 12, and the GOP wins the House, then you get
                    88 x $0.10 = $8.80 profit for every contract (share) you
                    bought at 12.
                    let's say GOP loses the House (and you held onto your
                    contracts until the bitter end).  Then the contracts you
                    bought are worthless.  You're out what you paid for them,
                    12 * $0.10 = $1.20 per contract.
                    \_ Please excuse my denseness, but this site is blocked
                       at work, and I'm considering going home to bet.  I still
                       don't get it.  In your scenario, how much did each share
                       cost?  Did I pay 12 dollars and get back 12+ the 8.80,
                       or what?
                       \_ updated answer.  any more q's?
                          \_ I just don't understand what's going on.  Is each
                             share 0.1 dollars?  Then where does the 88 number
                             come from?  How does that relate to 12?
                             \_ Let's say the price is 12 right now.
                                This means 1 contract (share) costs $1.20.
                                You buy 1.
                                Let's say the GOP wins the House.
                                You can now automatically sell this for $10.
                                You make $8.80 profit for that 1 contract.
                                If you can find someone who's selling 100
                                If you find someone who's selling 100
                                contracts (shares) at 12, and your dream comes
                                true, then you make $880 profit.
                                Actually, I see someone offering 440 contracts
                                at 10.5, so you can get them even cheapter.
                                \_ Ok, I finally get it.  Thanks!