MrStickball currently runs the prediction league, however, I think he can only set up leagues. I'm not 100% sure how much control he has over each round and payouts.
If you check out the payout thread I created, you can see that the current average winnings ratio is ~0. However, I think that is skewed due to the first few rounds when the payout method was different.
As for being charged before the round is over, as stated above it is so you only bet what you have. However, I would suggest you bet in the American rounds until you build up a nice chunk of VG$ as sometimes the Japanese rounds don't get their results for a long time. When the round results are in, you'll notice a predictions winnings entry in your transactions that totals what you bet + winnings (which could be negative).
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