A parimutuel provision manager provides an efficient incentive mechanism for content provision on peer-to-peer systems. The parimutuel provision manager generates a wide diversity of content offerings while responding adaptively to customer demand. Files are served and paid for through a parimutuel market similar to that commonly used for betting in horse races. An analysis of the performance of such a system shows that there exists an equilibrium with a long tail in the distribution of content offerings, which guarantees the real time provision of any content regardless of its popularity.