Wednesday, March 19, 2008

Foretal is a destination where people predict the future

What Company Is Offering:
Foretal is a destination where people predict the future.

Their members submit Predictions to Foretal and, provided they are clear and legal, they post them on the site. Members also vote on these Predictions for free or for cash. There are also cash prize competitions for doing good stuff.

How It Works:
To get started, vote on the Predictions you see. Each time you do, you earn a free credit. When you register, these credits are saved. With five credits you can propose a free Prediction of your own. As you get into the site, you might want to move on to predicting for cash, but there's no obligation. There's a great deal of depth to the site even on the free side.They monitor all the predictions on this site constantly. If an event happens which makes a prediction turn out to be true, or not true, they 'declare an outcome'. At this point, there are winners and losers depending on how you have voted.

With cash votes on cash predictions, all those who put cash votes on the losing side get them distributed to the winning side – and, importantly, the predictor gets a cut of 3% on these cash votes, the same as Foretal.

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