Topic: Betnomi Poker Series $1000 prize pool minimum - page 3. (Read 5642 times)

So we have a Knockout bonus, interesting

Another thing to fix with betnomi is that it allows you to view the game (or the tournament lobby) without a password and this is used only for registration.

Thank you, for one thing and tested the internal translation! As far as betting is concerned, I'll probably rely on the probability of one or another player hitting the ITM ... So if you do not go into the details of the statistics, I opted for TrayvonKang, Betwrong. Well, and a bet in case webtricks suddenly gets lucky in the final, how lucky he was in the fourth game.

Guys, here's the final announcement from my side before the excitement rolls in,

I will pay $25 bounty to whoever kicks Teethow out, paid directly in your Betnomi account.

Good luck for the final! @iv4n you still aren't registered.

thanks to you and to Iv4n, I hope I won´t disappoint you :-)

"This tournament grants tournament money. The latter can be used to buy in to any tournament offered in the network"

Any news regarding this?

Thanks @webtricks for this great offer. I personally betted on 1r0n1c. You will do it man!

I would maybe like to play the next league too. It depends on the entry fees.

I have received your buddy transfer and it seems fees is zero just like SwC. I have added 2000 DOGE in your account, go and make those final flashing bets on your favorites.

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From my side, it's a green signal. The trial of my algorithm was successful, I found a vulnerability or two which will be improved in future markets. Only complain I received so far is the use of DOGE, for that, we can use BTC in future, no problem. So, in case there will be a series in future (which Betnomi already showed intentions for), I will be happy to make betting markets from the start. Now, you guys can tell me the improvements or additions you want and more importantly, are you willing to bet?

Man, you are a very sympathetic person, thx! As I said, I haven't tested this feature and don't know what the commission is, but I sent you $20. ^{[I hope my bet on your victory will be a winning one  ]}

By the way, since you have already described what the whole process looks like from the inside ... Could you briefly describe your vision of the betting process at an early stage? ^{[If you have any thoughts on this]}

Thx for the site, i will check it man. I hope this is without KYC  


Oh, now i get it. But anyway, was close to what i thought. Thx for good clarification!

Oh yeah I added every bet he had there but still even at 500 doge base bet, Teethow will win some good amount in case he could get the 1st spot

Teethow has 7 open bet for himself

500 doge @72.00x will pay 36000
500 doge @12.75x will pay 6375
500 doge @7.36x will pay 3680
500 doge @5.34x will pay 2670
500 doge @4.29x will pay 2450
500 doge @3.63x will pay 1815
100 doge @3.19x will pay 319

At current rate its over $530 and its pretty much the same prize for the 1st spot. Makes alot more sense now compared with my previous calculation


I will be glad to help you take down Teethow !. All you gotta do is share some doge with me and I'll take 50% cut in case you finish ITM lol  

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Goodluck Teethow, if you get the 1st place tomorrow then $1k will be yours !

Edit : dont forget to register for Grand Finale and Runner up final, its in the lobby

If you are interested to bet more, I can help. Like arallmuus said, both users need to have same currency preference. My username on Betnomi is webtricks and currency is USD. You can send the funds and PM me, I will credit your account.

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@Betwrong is right, base bet is 500 DOGE so odds will be paid on 500, not 3000 DOGE.

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Haha, bounty! Not a bad idea. I will possibly make the announcement about this tomorrow. One or two bounties in the final won't be bad to make it more competitive and aggressive.

Okay, let me explain how odds work:

The examples you gave are from two-way or three-way markets. Let me quote a real live market for tonight matches to better explain the things:

Granada v Barcelona - Odds - 7.00  1.40  5.20
Levante v Eibar - Odds - 2.30 3.10  3.40

In which match do you think house is paying better odds? No. 1? Nope, it's match 2 between Levante and Eibar.

To determine the house edge in odds, we first need to add total odds by dividing each with 1 first. In first match, it will be = 1/7 + 1/1.4 + 1/5.2 = 1.0495.
Now divide 1 with the result, it will be = 1/1.0495 = 0.9528.
Finally deduct the result from 1 and multiply by 100, it will be = 1-0.9528 = 0.0472 or 4.72%

In second match, it's 4.89%. So, if bets are equally spread among the teams according to winning probability then house will make the profit of 4.72% and 4.89% in above matches resp..

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Now, let's consider our market. We have 9 players. Easy example first. Suppose, each player is equal contender of winning and equally-likely favorite of bettors. So, we will give equal probability and odds to each of them, hence, each player has 1/9 chance of winning. If our house edge is zero, we will give 9.00x odds for each player. But let's consider the house edge of 5% which means I set odds to 8.55x for each player.

Suppose, each player received equal bets of $100 then our total income is $900. One of the player will win and we have to pay $100 * 8.55 = $855 to winners, leaving us with $45 as profit.

These are the current odds from my website:
Betwrong 9.65x, icopress 9.28x, TrayvonKang 8.04x, noobHere 10.96x, TikTokLyFe 12.06x, webtricks 9.28x, Iv4n 6.18x, Teethow 3.77x, 1r0n1c 15.08x,

Looking high? Let's find out. Using the formula explained in first part,
1/9.65 + 1/9.28 + 1/8.04 + 1/10.96 + 1/12.06 + 1/9.28 + 1/6.18 + 1/3.77 + 1/15.08 = 1.1110

Dividing with 1, = 0.90004. Deducting from 1, we are left with 0.10006 or 10% house edge.

So, don't worry guys, there is nothing wrong with odds.  And I would be more than happy to payout the winnings if Teethow or anyone else wins.

However, I failed to anticipate one thing while writing the algorithm. There is a factor known as 'indifferentiation'. Usually bettors differentiate among the choices. For example, in the first match above, odds for Barcelona are 1.40 which is significantly lower than the odds on Granada or Draw. But still maximum bets will be made on this odd because bettors expect Barcelona win more than other two choices.

However, sometimes bettors are indifferentiate towards the choices, like in our game. We can't say with greater predictability that who has higher chances of winning. In such markets, bettors are more concerned with odds than probability. Hence, maximum bets will come on players with higher odds rather than the player with higher probability of winning. For example, when Betwong's odds were 4.5x and webtricks's odds were 11.5x, the bettor preferred the latter. However, the same bettor preferred Betwrong over webtricks when odds were reversed.

To deal with such situation, I should have increased the house edge to atleast 1/6th or 16.67% and reduce the weightage of winning chance to 1/5th in total calculation. But no worries, I have some big stack of DOGE lying in my wallet from last failed project so it won't hurt much. 

I think there's something wrong with your calculations, mate

If you are adding up all the odds, 72x + 12.75 + ..., your 100x is going to be for 500 DOGE, not 3k. Still a great side prize though, $500, I mean.


The odds look high to me as well. So, if there was a mistake in the odds calculation on webtricks.website, I think we should agree in advance on some possible correction. We are not going to rob our friend, webtricks, right?

With that being said, I think I can answer this question


When you see 1.23 or 2.05 in your local bookies, those are odds for two teams in the game, right? And here we have 9, so hence the odds.

I think Web has more reasons to kick Teethow out of the game than to win the tournament! With these odds and bets this looks like a crazy betting... well Web can let it be, or he can put some bounty on Teethow, even a few hundred dollars would be OK I guess!
Good luck Teethow, you just made this game a lot more interesting!


It's why I like to use swapzone https://swapzone.io/! Very easy to use, fast and reliable!
Odds are definitely high, I agree with that!

Thanks for your DOGE and of course i'm appreciate your idea with bets. I've done three bets:



Maybe i would add some more DOGE, but i don't holding them and don't have opportunity to buy them fast on exchanger. So that's what i have (thanks again to webtricks for his 500 DOGE). But i have some question: Why so big odds?
Maybe this is USA system, but i often see (in my local book sites) odds like 1.23, 2.05 which means 1.23 X sum if you win. And what we have here? 12.4x This is some kind of giveaway or what? 

Thats so sick, it is over 100x with 3k doges on bet. If you win the whole the 1st place, you will get $500 from the Grand Finale and over 300k doges from the side bet worth over $2800 with the current rate ( over $3k in total ). This makes the game more interesting because with this there is a whole lot reason for you to win this one 


Both the sender and recipient account needs to have the same currency (usd/euro) or else it wont work


Thats high, I only get 8.93 when I bet for myself. Ir0nic now has over 15x in case anyone would love to bet on these odds

I just registered for the runners up game. Looks like it's a 70/30 split payout so not bad odds for 1st and 2nd to take home some cash.

Good luck everyone playing on Sunday. Thanks Yahoo for organizing and to Betnomi for the sponsored prizepool.

Hello everyone, well, I also made a bet (bonus from webtricks). But I would like to place some more bets ..., does anyone have DOGE? I could offer 10-15 dollars in return by sending them inside the Betnomi platform, (has anyone tested this function?). And by the way, I think we all underestimate noobHere (I think he is like a dark horse).




Edited: Hoho, how I put forward this proposal in time
It seems to me that the next poker series will be much more interesting)) Especially if it will be possible to place bets on the final game from the first round!

Nice dressing for Sunday's poker party!!


BITCOINTALK POKER SERIES BETTING MARKET


Good luck to the 9 finalists, but especially to my selection

This is so cool of you, tnx, @webtricks!

So, here's my bets:



I used the opportunity to bet on TikTokLyfe with amazing odds, 14.27x, which, I think, we'll never see again. icopress and webtricks had also attractive odds at the time of my betting, so I exploited that too.

Before going to the site, I was planning to bet on iv4n, but then I saw the odds(everyone's favorite, huh? ), and I changed my mind.  

The odds look like this currently:



Now, if I were you, guys, I'd bet on 1ron1c and Betwrong.

Cool man! You are able to secure excellent odds! 72x is pretty wonderful! Good luck for the finale. Winning the tournament would be quite a day for you. Huge payout on Betnomi, huge payout on webtricks betting market.