Topic: BitcoinSportsBook.com (Read 4589 times)

Semantics, semantics... the game is "active" until it is settled, but that doesn't mean you can still bet on it. Like a soccer game is active until the game ends, but you can only bet up to the game start. Any hints on better wording for the 3 states?

1) game open, bets open
2) game open, bets closed
3) game settled

Thanks!

At the time of your post, there are no open wagers to bet on. The MtGox wagers close at the end of each month, the end of March wagers will open in a couple weeks.

We offer national televised games as well, currently NCAA basketball and NBA.

Thank you for the interest. The January 31st settlement wagers are closed.

There will be February 28th 2011 wagers opening soon.

good luck

Are the bets on the price of bitcoins supposed to be closed?  And if so what are the chances of opening some more up?

Will you add to the line soccer or NHL matches?

Certainly! Good luck.

Could you please post the NCAA bowl games if possible. I was kind of disappointed that when I started using BitcoinSportsBook they stopped taking bets on NCAA football games.

Thank you for visiting the site. I need to create the help page - this is my fault.

Wagering closes at the DATE/TIME indicated on the bet. All wagers are pari-mutual, meaning you wager with other participants on the site. If you are familiar with horse race betting, it is the same. The timing of your bet in this case is similar to placing a bet at a horse racing track with 30 minutes until close - there are few wagers at the moment. Once the time becomes closer, more wagers are attracted. Everyone will get the same line upon close. I'm not sure of your exact wager, but if you bet on mtgox over 0.30 for 10 coins, you can freely bet up to 10 coins on the under 0.30 right now in margin (most you can lose is only 10 coins total). Once the wager closes on 12/31, you'll only need to maintain a worst-case scenario and can freely withdraw the balance of the coins.

We have a market maker who will price out each contract and put 1000+ coins or so on each side when the wager is close to going off.

You understand how the line works. If there are 100 coins on wager A and 200 coins on wager B, then those 300 coins will be split proportionately among the winning bets.

Rules for MtGox USD Price for Jan 2011 close eastern time: A settlement will be given for price action for trades that take place on january 31st, 2011. All trades that day (eastern time) will be price weighted. So, 1000 coins trade at 0.25 and 100 coins trade at 0.26, the settlement would be (1000*.25 + 100*.26)/1100 = 0.250909.

I'm a little confused on a couple parts of the site. Your first post says that everything'll be explained by the site, but I don't see a help page there. Maybe I'm just missing it. And maybe part of it is I'm just unfamiliar with traditional sports betting as well.

When do bets close? For instance, I just placed a bet on the MtGox price by the end of the year. Should I have waited closer to the end of the year before doing that? Is the potential payoff the same whether I bet now or at 11:58 pm on 12/31? I suddenly feel like I made a terrible mistake. Can I un-place my bet and wait until the time gets closer?

Is the current "line" the number my bet gets multiplied by if the thing I bet on "wins"? And this is set purely by "the market" of what bets have been placed thus far, and not by some external force guessing? That is, if the fee is 0.0%, then all the money bet gets split proportionally amongst the "winners" according to how much they each bet?

The "MtGox USD Price" section heading says "(see rules)". Where are the rules?

Thanks.

These profits have been generated directly to the recipient's bitcoin address. The coins have never been owned by anyone else before, so there is no "simple transaction".

Ok, someone please explain what this generation to BSB is all about? So there was a generated something on a mining pool and the receiving address was the one on BSB? Why would this not work, aren't the profits of pool mining distributed using simple transactions?

If I owned BSB, I wouldn't mind. Your claim doesn't take long to verify.

Ok, I won't do that then. Thanks.

Theoretically they could manually fix it and give the bitcoins back, but I guess for this small amount it's not really worth it.

Don't generate directly to site balances. The current version of bitcoind is incapable of detecting these transactions. There's nothing sites can do to fix it.

My account is angus, BCIN 1JiUeYrHu1QcDM26wZ4BFtmLqDV4sNwx4H

I don't think the 0.836 bitcoins shown here in blockexplorer ever actually showed up in my account.
http://blockexplorer.com/address/1JiUeYrHu1QcDM26wZ4BFtmLqDV4sNwx4H

I'm guessing the reason is that it's because they weren't transferred but were put in directly from generation using one of those pooled mining things.

PM me all you know about your account (so I can establish you are you) BCIN, BCOUT, login, current balance, last transfer (in or out), last bets, anything that can help me make sure it is your account.

Is there any way to recover a lost password? Can't login to my account...

We quote the decimal line along with the american odds in brackets. i.e decimal: 4.5454 / 1.2804 and american: +355/-357 for tomorrow nights game.  I'm unfamiliar with fractional, if a game is 5/2, are you credited with 50 for 20 bet? Is there rounding involved, possible I get 50.29 for 20 bet?

All settling is done by hand right now. Nelisky did the programming and has tinkered with auto settling, but it hasn't been necessary. When we expand, it would be included.

Currently we book based on a pari-mutal basis. With this, market makers can put in their own odds and gain edge from gamblers.

I just asked about a betting exchange in the irc today, didn't notice this thread before. I was thinking of starting to work on one for football(soccer, that is).

Any chance of being able to change the odds display? I can't understand American/US style odds very easily at all. Decimal makes the most sense to me, but lots of people swear by fractional - you should probably try and support all of them if possible.

How are you settling your bets by the way? That would seem to be the most difficult part to me, seeing as most of the live scores & results feeds available charge massive amounts. Been looking out for some decent free feeds for football results that are updated in a timely manner and not finding anything yet.

good thing that isn't a valid address otherwise people might just try to donate to it.