Oh yes. That. Well, Dogmeat, not sure if I mentioned this before, but other than being able to... hm... ban people for instance, I don't get to do much as an admin. FYI there's no points / credits / experience / items / guild privilege advantage to being an admin. Even admins have to get points from somewhere, eh?

Now, on topic: very interesting (and, yes, comprehensible) post you wrote there on the odds. Thank you for sharing this reasoning.

But personally, as the bet holder, I'm not interested by the odds - I only need a correct algorithm to award the right amount of points to each winner, in the end.

=== BET UPDATE ===

Existing bets:

18/01/2009 - Kenneth bet 200 points on Dogmeat
18/01/2009 - King Kod bet 200 points on ColtonGrondy


New bets placed:

18/01/2009 - Loster369 bet 500 points on Dogmeat

=== 18/01/2009 - Total bet pot - 900 points ===

... not that I think it's bad, I just didn't expect an admin to be profiteering

oh yes: no changing sides/reducing your bet- if you want to change your sides, you'll have to wait until the next round- and probably end up paying more to even it out

okay... now that a few things have been cleared up :

this will be a multi-layered ractive-odds round based system...
the rounds will be updated about every 4 days
there is a betting cap on each round (determined by colton and me) , and the bets/winnings for each round depend on the active-odds

this way, you can bet in every round, and bet on a different person in each round, if you so please

so, if you wait until near the end to place your monster bet, you'll not get much from it

at the end, if you win, you receive your bet back, and an amount of points equaling the total % your bet was of your side (so, if the round you were in had 500 pts side a/1000 side b, and you bet 400 for side a and won, you'd get 80% (400/500) of the 1000 from the other side, 800 points)

you do not really have to pay attention to the odds or what round it is, if it seems too complicated- if betting is open, it will be posted here, with how much can be bet, and when you will be able to bet again if bets are currently closed

Round 1 of betting is closed ...

the odds were 4:5, and the bets were as follows:

Dogmeat                                    coltongrondy
---------------------------------------------------------
160 Dogmeat                           800 coltongrondy
440 Carnage                            200 King Kod
200 Kenneth
---------------------------------------------------------------
total
800                                             1000

Round 2 is open, bets are as follows, odds are 6:5

Dogmeat                                coltongrondy
----------------------------------------------------------
125 Dogmeat                        521 coltongrondy
500 Loster369
----------------------------------------------------------
625                                          521

Round 2 is closed... Round 3 is now open and accepting one bet for Dogmeat or any amount of bets for coltongrondy... I believe we already have one ready to bet on Dogmeat

OK, so no changing sides until the current round is over.



(I took the freedom to change your quote a bit.)

You might want to make the above text loud and big and clear for everyone to get this beforehand




OK, let me get this straight. As of now - Round 2 - does King Kod's 200 points bet on coltongrondy count? Also, Kenneth will have his points returned until the bets on coltongrondy will be enough?

EDIT: Bummer. I think I understand what you mean - so far I didn't take into account round 1, I thought it took place somehow between you guys. So Kenneth's and King Kod's bets from yesterday were for the now closed 1st round.

I believe Dogmeat won