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Print at Oct 21, 2019 10:57:10 AM

Posted by Nemo at Mar 19, 2003 3:49:22 AM
Betting
 
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.


Or, you could just fight the skellies yourself and take all the goodies.

The other, multi-tiered, W/P/S betting you were talking about requires large numbers of betters to work properly. With the scale of wagering you're looking at, it'd be much better to just bet W/L with a unilateral wager.
The handicapping is just a complicated guess at what the eventual number of bets would be (or already are) on each possible outcome. If everyone is made to bet the same amount, the handicapping becomes much easier (especially with the small pool).

Example:

5 people bet the same amount on the same fight
The fight looks to be a bit one-sided (an experienced handicapper might even call it 4 to 1, A wins), so 4 of 5 bet on player A
The remaining guy crosses his fingers and bets on the underdog B
The handicap is now 4 to 1 that A will beat B.
If A wins, the winning betters get a minimal payoff commensurate with their minimal risk (They're up 1/4 of what they wagered).
If B wins, the risky gambler who bet on him now has 5 times his original cash.

The possible troubles come in when there is an organizer who takes a share. With large scale betting, the bookie's cut is largely unnoticed by the winner. But at the scale here, any worthwhile skimming would seriously depreciate the value of safe betting. With no one betting safely, the risky bets have no payoff... so nobody bets at all.

Just some thoughts. I hope you can get something going. It'd be interesting...

-Nemo



-Nemo
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