Easy money to be made on Intrade (if you think Ron Paul can win)Submitted by The Shazad on Sun, 04/15/2012 - 15:21
In the spirit of gratitude for some of you engaging me on a delegate discussion over the past couple days, here's a quick tip on a way to make a bunch of money.
Over at intrade.com, you can place bets on a variety of different future events, including many political events. I'm sure many of you know about the website. If you are smarter than the collective set of bettors, you can make some money.
Ron Paul's "win the Republican nomination" contract is at a 0.6% chance right now. From discussions with you guys, it appears that many believe his chances are higher than that.
If you look at the current prices at which you can buy shares, and factor in the monthly membership charge, you can acquire 380 shares of Ron Paul stock for $61. If he doesn't become the nominee, you're out that money. If he does, you win $3,800.
Do you guys take that bet? Does anyone want to pull the trigger? That would make for a cool story to tell, and you could donate all the winnings to his general election campaign (or put it toward the cost of your flight to Tampa and hotel stay as you vote there as a Paul delegate).