“The purpose of Augur is simple but powerful. It will allow any Ether holder to wager money on any future event of their choosing. If the event doesn’t yet exist, anyone can make an event for people to place their bets on. Software built on “wisdom of the crowds” will set the probabilities, collect the Ether bets, and finally, reward the winnings. Because of the ease in which this can be set up, the price for actually running the show is exceptionally smaller than that compared in the average bookie. Only one percent is going to go to the Ether bookie, which is ten times lower than the average today if you go to Vegas. However,”