What is a time limit? Do actual bets on this sort of thing in Britain stipulate a time limit? As a Yank, I have no idea how betting ‘markets’ like this like this actually work.
Prediction markets/betting markets like Intrade or Betfair pretty universally set time limits on their bets. (Browse through Intrade sometime.) This does sometimes require changing the bet/prediction though—from ‘the Higgs boson will be found’ to ‘the Higgs boson will be found by 2020’. Not that this is a bad thing, mind you.
What is a time limit? Do actual bets on this sort of thing in Britain stipulate a time limit? As a Yank, I have no idea how betting ‘markets’ like this like this actually work.
Prediction markets/betting markets like Intrade or Betfair pretty universally set time limits on their bets. (Browse through Intrade sometime.) This does sometimes require changing the bet/prediction though—from ‘the Higgs boson will be found’ to ‘the Higgs boson will be found by 2020’. Not that this is a bad thing, mind you.