For the first time I decided to play in the predictions. I put out some for Japan, which has not ended yet. However, I noticed that it has already deducted $1070 from my profile?

What am I missing here? The description in the league page doesn't say anything about this. I figured it would wait until the end of that prediction and then either give or take what is won/lost.

Prediction league vets, please help.

It's so that people don't bet more money than they have...

I don't use the PL. I tried once, and I actually got one of them right! The sales of MGS4 being 450,000! I never got that $5 back...

so, it will be re-adjusted when it ends?

When it ends, you might gain some of it back if your predictions weren't bad... If they were good, you might even gain back more than you bet ;)

But I don't use the PL very often, I usually forget to participate until the deadline is past. I think that's how it works though.

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).