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Print at Sep 29, 2020 1:09:30 PM

Posted by muffy at Mar 19, 2003 3:31:36 AM
gambling, bookies, and handicapping
An excellent idea, this gambling. I was just wishing for something new!

If I understand the way most betting works, it isn't just a "win or lose" proposition - you balance the bets vs. the payoff by the expected result. Thus, I might get 10-to-1 on an experienced player against a newbie, so that if I bet on the newbie, I don't risk as much, but I win more if I'm right. Whereas in an even fight, it's 1-to-1.

If we can appropriately handicap each fight, it doesn't matter as much about ratings. Anyone want to set up as a bookie? Also, if it's done tourney-style, with elimination, you can bet on which level a particular fighter will reach, so we have, essentially, win, place, and show.

I'd be interested in competing in other betting events: races, sea battles, etc., just like in the tourney. Also skelly fights. You could, for example, bet on how many rounds a given team will have to go with the skellies before they win.
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