An interesting article on the use of online gambling by economic analysts appeared recently in the US publication The Wall Street Journal, that paradigm of business reporting more closely associated with stock market news and international finance.

It seems a bunch of economists in the academic world have been turning to the fluctuations in sports betting to gain a clearer understanding as to how people’s rational thought processes react when making decisions. The insights into gamblers apparently provide some interesting prediction models for economists looking to forecast market movements.

Of course, those of us in online bingo kind of know that the markets (Wall Street, the London Stock Exchange) are nothing more than giant gambling enterprises no different than your average online bingo game except for one all important factor – online bingo players know they’re in a game; stock traders actually think they are in a controllable business.

The actual reason for most economists to take an interest in sports betting centers around how people react to new news entering the market. In this case, a goal scored in a football game often changes the way bets are being made on the game – this excites economists who see the chance to draw comparisons with world market activity.

My advice to economists – try taking in new information every time the ball is dropped in a free online bingo game to get an accelerated idea of how people react to new information entering a market place.

Written by John Witherspoon – Need the best online bingo games? BingoStreet.com collected the best online bingo promotions and free bingo games online.

This entry was posted on Thursday, January 10th, 2008 at 10:12 am and is filed under Online Bingo. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.