Topic: Free Betting Competition $6000 in Prizes Sponsor: Betking.io (Discussion Thread) - page 8. (Read 29981 times)

Hello hahay, you can add new accounts with any bankroll (up to three of course) anytime you want.
You can edit the bankroll of registered accounts only before the competition starts.

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By the way guys, we really need more participants otherwise the competition can't start.
Right now we have:
Total registered users: 7
Total registered entries: 13

This is really low, specially since we've updated the prizes.
It's hard to understand how users are not registering, assuming they enjoy betting and a good challenge.
We are offering options that suits any type of betting, and there is no risk in participating, assuming players make bets anyway.

I think it's a very good update, I just want to ask question.
If I have registered for a standard prize with $50 bankroll, and I want to replace it with a triple prize with a $500 bankroll, do I have to re-register or can I make it multi or even triple prize with all options included?
and if I just want to re-register for triple the prize with a $500 bankroll and cancel the standard prize with $50 bankroll, can that be?

If anyone wants to help us spread the word, please retweet the following:


Thanks.

Important update

Hello everyone. The update we've mentioned earlier this week is now official. We didn't have a lot of feedback, so we just kept the anouced values.
Al users that already registered with us, can change their bankroll options if they want to take part of these new benefits.

NEW Prize/Bankroll Options - up to $6000 per month now

Standard prizes: $50 bankroll with minimum of 80 valid bets and normal prizes (the ones we had on First Edition)

Double prizes: $250 bankroll with minimum of 60 valid bets and 2 times prize value

Triple prizes: $500 bankroll with minimum of 30 valid bets, and 3 times prize value

Important aspects:
- No full bankroll deposits are needed. Players just need to be able to make bets of 1% to 5% of their current bankroll, with their own funds.
- Players will only need to make 1 bet per day in order to receive points on that given day
- Players reaching a prize position will still need to make the minimum number of bets during the month (according to their bankroll option)
- All players participate at the same time. Since points are ROI% based, there are no advantages in using different bankrolls
- If a player reaches a prize position he will get normal prizes, or 2 or 3 time that normal prize value (depending on the bankroll used)

EDIT: Here is the link with the full prize distribution after this update: Full Prize Distribution

This sounds really good in my opinion. I'm glad you are making this new update.
Not that I had any problems with the 80 bets, but bigger prizes sounds always good.

When will the official announcement take place?

EDIT: Keeping this as last post of this thread

Important Update

Hello everyone, I would like to talk about our prize and bankroll update for the Second Edition of our Betting Competition. These values are still being discussed and can still suffer some changes. Right now I would like to get some feedback from our participants regarding this matter.

Some users complained about the number of bets being to high. They even said that they normally prefer to bet with higher stakes but with much less volume, since it's hard to find good bets in general.

With this update we want to allow players to stay close to their betting habits, even though they are on a Betting Competition.

So basically we will keep the normal prize/bankroll structure we had in the First edition, but we will have some incentives for those that prefer to use higher bet stakes. Those players will be able to make less bets, and will also be entitled to better prizes.

Right now, we are thinking on something like this:
- $50 bankroll with minimum of 80 valid bets and normal prizes (the ones we had on First Edition)
- $250 bankroll with minimum of 60 valid bets and 2 times prize value
- $500 bankroll with minimum of 30 valid bets, and 3 times prize value


As usual no deposits are needed. So players just need to make sure they are able to make bets between 1% to 5% of their current bankroll. So basically a player starting with just $5, would be able to bet for any of these starting bankroll options, since 1% bets would be 50cent, $2.5 and $5 respectively.

Since points are ROI% based, the size of the bankroll doesn't offer any advantage, so all players will still be competing at the same time, and since we allow up to 3 entries, players can of course use different bankroll options for each account.

Important aspects:
- No full bankroll deposits are needed. Players just need to be able to make bets of 1% to 5% of their current bankroll, with their own funds.
- Players will only need to make 1 bet per day in order to receive points on that given day
- Players reaching a prize position will still need to make the minimum number of bets during the month (according to their bankroll option)
- All players participate at the same time. Since points are ROI% based, there are no advantages in using different bankrolls
- If a player reaches a prize position he will get normal prizes, or 2 or 3 time that normal prize value (depending on the bankroll used)

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Hope you guys like this update.
We will make another post about this, once the values are final.
Players that had already registered, will of course be able to change their bankroll options if they want to.

Don't forget that registration is already open, and we need at least 24 registered entries in order to start this next edition. Right now we only have 6 users and a total of 10 entries.

If you guys like betting, there really is no reason not to join!

Registration thread: https://bitcointalksearch.org/topic/free-betting-competition-2000-prizes-sponsor-betkingio-registration-thread-4855219

Hello Betwrong, thanks for your feedback, and I'm glad you liked our update.
Regarding your questions, I will make a distinction between qualifying for prizes and qualifying for points.

- Every day we award points based on each players daily ROI%. Those points will be used to determine the weekly and monthly winners. If a player makes 1 bet (that bet needs to get settled on that day, so that the player gets some ROI% from it), then he will qualify for points on that day. On the last competition we needed players to make at least 3 bets per day, to get points.

So if a player makes a bet during a day, he can get points. If he doesn't, then we can't award him points, because we don't really have any ROI% on that day for him. But players don't need to make bets every day. Of course that if they don't, they might not win points, and their chances on winning prizes will be reduced. Of course that if a player already has a lot of points, and decides not to make bets on any given day, he can do so, with no penalties.

- Prize qualification is a different matter. At the end of the month, if a player won weekly or monthly prizes, he will only be able to receive them, if he made the minimum number ob bets for his bankroll option during the competition (80, 60 or 30 for $50, $250 and $500 bankroll options).

So players can manage their bet volume anyway they want during the competition, and that was also the case on the First Edition.
They just need to know that they are eligible for Daily Points if they make at least one bet on that day, and they are only eligible for prizes, if they make the minimum number of bets during the competition.

I like this update. Although I had no problems with 3 bets per day, I understand that it is more feasible for participants to make just one bet instead of three to qualify.

Also, do I get it right that one can skip a day or two and still qualify if the minimum number of bets during the week/month was made? Previously I thought that one has to make 3 bets(1 bet this time) every day, no skipping, to qualify.


I think it's fair enough. If a player bets with higher amounts he/she deserves higher prizes.


There are 5 days left, so, hopefully another 18 players will join. Considering the prizes and and the requirements, it's definitely worth joining.

Yes, bets above 5% will still be accepted, but for the purpose of the competition, they will be treated as if they were made with just 5% of your current bankroll. You will of course be paid normally from your bet, but when we update the competition leaderbaord that bet will be considered as if it was made with 5% of your current bankroll.

So basically you just need to make sure that you are betting at least 1% of current bankroll, but if you really want to bet more, because you see value in that bet for your normal betting habits, you can of course do it.

Hope this makes it clear.
If you have any more doubts, please let us know.

Thanks! Yeah, this makes things clear about the lower limit for a stake. But now I have a question about the upper limit. You said:


Does it mean that if my current bankroll is 0.32 mBTC and I make a bet with 0.1 mBTC it won't qualify for the competition because a stake have to be not higher than 5% of my current bankroll, or not higher than 0.016 mBTC?

I'm pretty sure that during the previous competition all my stakes were 10% of my bankroll and above and they were considered as valid ones because I was receiving points. So, this part is unclear to me.

I will definitely join again. Waiting on more info on the prize update just to decide if I'm joining with one or more accounts.

Yes, just like we had in the past, users will be able to choose different options for all 3 accounts.


It's not 10% at all. It's quite less actually.
As stated in the rules, a bet needs to have a stake between 1% to 5% of current bankroll.

The reasons why you saw different stakes for different users, is because the stake is always based on current bankroll, and you current bankroll changes according to your profit and losses during the competition.

Here is an example:
- You start with 8mBTC bankroll. Bets here need to be between 0.08mBTC (1%) and 0.4mBTC (5%)
- You win some bets and your current bankroll is now 10mBTC. Bets need to be between 0.1mBTC (1%) and 0.5mBTC (5%)
- You lose some bets and your current bankroll is now 6mBTC. Bets need to be between 0.06mBTC (1%) and 0.3mBTC (5%)

Hope this makes things clear!

If you have any more questions, please let us know.

I absolutely agree with this. I've just registered for the new competition, hope I'll be more lucky next time.

I have a question about the minimum bet. As far as I understand, it should be not less than 10% of your balance. So, if my balance is 32,000 sats should my minimum bet be 3,200 sats or should it be 7,000 or 8,000 sats? Asking because I thought that min bet was 8k sats, but I saw in the Leaderboard that for some participants it was 7k sats or maybe even less than that.

Just registered, thanks for the reminder!

I'm probably interested in that high roller version you've mentioned.
Also, since all entries are independent of each other, will I be able to join with one "high roller account" and a "normal one"?

Important update

- Hello everyone, don't forget that registration is already open.
- Previous participants need to register again if they wish to participate again.
- We need to do things this way to make sure we have better chances of having active participants in the competition
- We still need a minimum of 24 entries to start the competition, so if you guys don't hurry up, we might not be able to start on the 1st October as planned.

Finally, we will soon have an update on prizes!
The idea is to create a "high roller" version of the competition like we had in the past, and depending on the bankroll you use, participants will be able to win up to 3x our current prizes!

More information on this soon.
Stay tuned

EDIT: Regarding the update on prizes, I would just like to say that the conditions of the previous competition will stay the same, and this update will just be an add-on. We will just give you more options when registering, and you will get better prizes if you decide to go with the "high roller version".
I will make another post on this, as we make a decision on what values to use.

We actually did something like that in previous editions.

It might be a little too complicated to set up for this second edition though, but we'd definitely love to know what the other participants think about setting that up again in the future. Thanks vd309. Keep those ideas coming.

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EDIT: By the way, as things currently stand, the prizes will be distributed between vd309, hahay and Pif (the only ones who registered so far). Are you guys going to let that happen? Or are you going to register and wrest those prizes away from them?

Also, keep in mind that the more participants the competition gets the better content (possibly including prizes) we can get for you guys.

I enjoyed it very much and organization was top level. I agree betting is long term so in my opinion monthly leader boards should stay. I know it discourage players who fall out behind but that's why there are daily challenges.

Here is an idea that might entertain the participants and spark some grudge matches. A separate leader board in which only 1 account will count per player. Each day a player will battle against another player predetermined by draw. Something like a league. Scoring might be:
- 3 points on win and positive roi
- 2 points on win and negative roi
- 1 point on lose and positive roi
- 0 points on lose and negative roi

It might include play-offs at the end or just play out like a league depends of the number of rounds needed to finish.

Important Update

Hello everyone, the 2nd Edition of our Betting Competition will resume on the 1st October.

Registration is already open, so feel free to join us.

- It's free to enter! You just need to register and make bets as you normally would.

- By doing that, you will be fighting for our prizes. Over $2000 every month!

You can register on this thread:
https://bitcointalksearch.org/topic/free-betting-competition-2000-prizes-sponsor-betkingio-registration-thread-4855219

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Users that participated in the previous edition will need to register again.
We need to do this to make increase our chances of keeping active users on the 2nd Edition.
As you already know, this is important so that full prizes are paid at the end of the competition, instead of just half.

Please take these two weeks to give us feedback, and help us promote the competition so we can get more users to participate.
This is very important so that the competition can keep growing!
Thank you.

@Omikifuse thanks we will use that one for the monthly prize

Betwrong So you would just like to focus on Daily Prizes?
Well I understand that could work for the reasons you've mentioned, but I think we can't really forget the long term as well, since betting is all about that. We try to have something for all, and that's why we have really short term prizes (like the Daily Challenges), and then we have Weekly prizes, so that users can have a fresh start every week, and then that extra bonus, for those that did really well during the month.

If you look at our prize distribution, we are spending more on Daily Prizes, than we are on monthly prizes. For example, Bolt Brownie won 11 daily Challenges for a total of $110. He also managed to get $55 from weekly prizes, but he clearly went for the Daily Challenges, so we are already offering some fast prizes for our participants.

Right now we have something for short term, middle term and long term, where our main focus is obviously the middle term, since we put most of our prizes on our Weekly Competitions (A total of $1480 per month).

We can reduce or even remove Monthly prizes and put a little more on Daily Prizes, but I think that would remove a lot of the fun, since it would make things easier, and I guess that bettors should be rewarded for an entire month of good bets.

If most of our users want that, we can try to change the prize distribution, so let us know what you prefer.

Hi?

Please credit the monthly prize on omikifuse1 account.

Thank you