Price Prediction Game: Would You Play This?

Discussion in 'Chit Chat' started by Nwoke, Jun 28, 2011.

  1. Nwoke



    I have an idea for a web based game: a site that lets you predict the future price of a stock or commodity. On registration with your phone, you'll be given 10,000 virtual dollars to speculate with.

    You'll be shown a list of hot stocks or commodities like GOOG, AAPL, crude oil, Euros, and be asked to guess what the price will be tomorrow, a week from now, a month from now, etc, and wager a certain amount on your guess.

    Every day, for each security, prices will be recorded and used to redistribute the wagered funds among all the speculators for that day. If your guess is close, you'll get more than what you wagered, and if it's not, you get less or nothing.

    If you run out of funds, you pay $10 for another 10,000 virtual dollars. There would be a player ranking system and players will play to improve their ranks. Top players will be honored every week.

    For each future security, we could use a weighted average of guesses so far to predict what the price would be on a particular day. We would keep track of the eventual accuracy of those estimates, too.

    Would you play such a game? Would the predictions be accurate?

  2. dami


    Will you have it on mobile? Also, I will like to suggest other stock aside the ones listed in your post.

    Will I also be able to cash out on virtual money earned in your game?

    Sounds cool.
  3. Nwoke


    No, it's a virtual money game. No cashing out.
  4. Yeah why play with fake money when you can play with real money?
  6. Lucrum



    Although we do have a few members that might be interested.


    come to mind.
  8. Nwoke


    >> You will charge the fee for registration? If yes, how much?

    There'll be no registration fee, but you'll have to confirm your registration with a unique phone number and SMS verification. If you run out of virtual money due to a string of bad predictions, you'll have to pay cash for more.

    >> The player have to guess (all) the times("tomorrow, a week from
    >> now, a month from now, etc") or they pick the time for one bet
    >>, or two bet...?

    For each bet they'll choose the security, size of bet, and time.

    >> This will be a contract to sign if the player run out of funds she have
    >> to keep playing (?) many times, and pay $10.00 if she run out of
    >> funds, or she can quit and no pay for more virtual money?

    The player can quit anytime; it's just a game. If your predictions are generally above average, you'll never have to pay anything. The goal is to reward those who predict prices well.
  9. Nwoke


    >> You will use only the guesses of high rank players for the weighted average?

    Something like that. Higher ranked players' guesses will have more weight.
    #10     Jun 29, 2011