[POLL] Sweepstakes

[Dom]

What? I was thinking a small bank to hold all the bet money to make it easier to count things up and divide it.

What extra money are you talking about, you confuse me Dom!

I took it as you meant some sort of profits like a permanent bank not like a temporary holding thing for payouts, my bad

 

[Cheza]

I took it as you meant some sort of profits like a permanent bank not like a temporary holding thing for payouts, my bad

It's all good, I could have explained myself better <3

 

[Jiggly]

How about you have to pay more to bet for big winners, makin it less rewarding if people like doulie wins, and more rewarding for voting for underdogs

 

[Martin]

How about you have to pay more to bet for big winners, makin it less rewarding if people like doulie wins, and more rewarding for voting for underdogs

The way that its handled in real life is that the bookie will put lower odds (e.g. 3:1, 2:1, 1:1, 1:5 etc.) on a top racer, meaning that when people bet on them they win less money from it.

Something that I think would be good is if you could bet both ways (in horse racing that puts 50% of the bet on 1st place and 50% on top 3 and if they come first the top 3 bet doesn't count), but modify it so that it only counts as a win when they win or are runners up.

Whether or not we use both ways, the betting system could work so that if you win you get the winnings (e.g. double your initial investment on a bet of 2:1) plus your original bet back.

Talking of that, this has given me an idea. We could allow users to set up different bookmakers with each one watching each others odds and making modifications to their own to try and entice more bets to their bookie. That is how they work at real live events and I think that it would be like a new shop type where they are all constantly competing with one another for bets, having to pay out of their own pocket if they lose more PC than they gain. That would limit the number of bookmakers as users need to be able to afford a big loss to risk opening a bookmaker, and I think that it would be a fun little feature - moreso than a simple rock/paper/scizors (pun intended)-esque room like we have been talking about so far, and a a balance of risk vs reward.

 

[Jiggly]

The hard thing is, not everyone makes tournies, and some last minute Dropout, it may be hard to commit for some, making it risky to bet

 

[Dom]

How about you have to pay more to bet for big winners, makin it less rewarding if people like doulie wins, and more rewarding for voting for underdogs

That's what odds are lol except payouts diminish as the one you bet on gets more votes

 

[Martin]

The hard thing is, not everyone makes tournies, and some last minute Dropout, it may be hard to commit for some, making it risky to bet

We could make it so that it only applys to official PP tournaments and bets can only be made on the day that the tourney happens. And besides: for other tournaments individuals could do personal bets rather than this formal type as unofficial tournaments aren't as formal as official ones.

 

[Matt_192]

Plus that all bets must be submitted, say, before 4:30EDT, so we have enough time to register them.

 

[Charizard101]

I like this idea it would be fun

 

[Stellar]

support this 100 percent

 

[Yamatori]

Its definately a great idea and tbh its preatty easy too if you consider that there are no many people around to participate (i mean it will be less than 20 in the beggining)!!
@Matt_192 you can count on me for any help you may need!

 

[Valreg]

Another way to limit the workload/ confusion is to have a set number of people allowed to bet in a given event or have someone gifted in web design make something to track bets besides an excel spreadsheet

 

[Matt_192]

Another way to limit the workload/ confusion is to have a set number of people allowed to bet in a given event or have someone gifted in web design make something to track bets besides an excel spreadsheet

The initial plan was to have a council in control of the money, probably using a separate tournament account

 

[Matt_192]

Similar to the Tournament Times thread, this is getting a large following at 21-5 in favour, so I'm gonna tag @doulie to see what he thinks

Sorry for the double post