Topic: FREE Tipster Competition - 1 BTC in PRIZES - Registration Closed - page 14. (Read 18707 times)

This thread is also for registration process.
Just post here according to the format stated in point 2 of the Entrie rules

2. Format (please leave a post following this format to enroll in the competition)
 - Name: (use the same member names you use here on Bitcointalk)
 - Coin address:
 - Bankroll for the competition:

A note about the Bankroll for the competition.
You don't have to fund that address with the amount you state here. That value will be used to calculate the max bet stake (those 5%), and your ROI % will also be based on that value.

But lets say you feel confortable in making bets of 0.05 BTC, you don't need to have 1 BTC in that address, so you can say that your bankroll is 1 BTC and you will be allowed to place bets of a max stake of 0.05 BTC. But 1 BTC will be the value that we will use to calculate your ROI %

Okay so everything is cleared up now. So we need to wait for early September for you to open up the thread for official registration? I would like to play in this thing 

Point 4 in the Betting Rules was incorrect and it was now edited.
Sorry for the mistake.

great idea OP on managing betting competition thread
good luck

We put a lot of thought in this and I will try to explain why we have these 2 rules.
If we don't set up a max amount people can bet, everyone will just go allin at the end of the competition at big odds to try to increase their ROI %. If we let this happen we will be valuing random luck and not a consistent punter.

Here is an example:

Player A enters with 1 BTC and doubled his initial bank, thus having a 100% ROI.
Player B enters with 1 BTC and lost some bets and in the final day only has 0.5BTC of his initial bank, thus having a negative ROI% of -50%.
Player B has nothing to lose and bets the remaining 0.5 BTC @10 and wins, thus finishing the competition with 5 BTC that equals a ROI% of 400%.

He will win the competition because he won that single bet, and that is not fair.

With the 5% rule, he would only be able to bet 0.05 BTC and even if he won @10 he would finish the competition with 0.95 BTC, and still remains with a negative ROI% of -5%.

Also the number was not random picked, 5% of a bankroll is a normal value used for bankroll management, and we like to promote that.

As for the maxed odds we believe that is already a quite high value, so you can use parlays. If we increased them to much, again we would be risking that a single bet would have to much weight at the end of the competition


I believe that was already explained by DirectBet, there is no problem in allowing different budgets because the winner will be chosed based on %ROI and not by the flat value of his bank in the final day of the competition


Yes you should post them on the competition thread. But that is just a measure for transparency, because since you will always use the same coin address for your payouts we will know every bet you made and use that to update the leaderboard.


You just need to make a post here with this format:
- Name: (use the same member names you use here on Bitcointalk)
 - Coin address: (the address from which you will be placing your bets)
 - Bankroll for the competition: (This will be the bankroll value we will use to calculate your betting limits and your ROI% at the end of the competition)

If you have any more doubts or suggestions feel free to share them.

You are correct, I have edited the rules. You just need to set the same payout address on every bet you make.

If you we are in the first weak of the competition you can re-entry with the same bankroll or less, but your progress will not reset so you can't take advantage of this.

Meaning, you enter with a bankroll of 1 BTC and you lose it all in the first week
You can enter again with the max ammount of 1 BTC, but at that time your ROI will be -50% because it's like you entered with 2 BTC total, and now only have 1 BTC, so you are in a loss.

5. All bets must be made from the coin address you provided during the competition registration. Bets not made from that address will not count for the competition.

Because here in point 5 it is said 'from' not 'to' I guess you meant the funding address i.e. the address you send from? So to confirm you only need the same address for withdrawals to track people?

So in this case no needed minimum bet to able joined this competition. This is great and fair competition

It is a betting competition thread, not a bitcoin shop or sell offer. You need to bet your coins, and I don't know if skrill is counting as valid coin accepted in this competition.

congrats OP on managing to get the tipster competition ready mate hopefully some retired tipsters come out to play

what if i lose my bankroll?can i rejoin again or im out

All bets that you place as part of this competition need to be placed for real on our website. This will allow us to track the progress of each tipster and create the leaderboard.

If you want to participate but you don't want to risk much - that's not a problem. You can state that your bankroll is 10,000 DOGE for example and play with them. That's equivalent to 0.005 BTC and that's all you have to risk !

There is no advantage for playing with a bigger stack. That's because the winner is the one with the highest percentage of profit and not the actual amount.

For example, you start the competition with 1 BTC and ends it with 2 BTC. You made a profit of 100%.

Someone else starts the competition with 100 BTC and ends with 150 BTC. He made a profit of 50%. You still win because your ROI (return on investment) is higher.

We specifically created the competition rules in a way that provides a playing level field for everyone.

how will you know if the bets are correct ? where do we need to place are betting slips,and do we post them before a game?

All wallets are compatible. You simply need to use the same payout address for all your bets so that we will be able to track your progress in the leaderboard.

Ofcourse im in you can add me instantly
but i dont like some of the rules not one bit,you need to change some

also im angry that max odd is 10x it should be at least 30x

I dont agree with next things :
The maximum bet allowed is 5% of your current bankroll. If you pass that limit, the winnings for the purpose of this competition will be rounded down as if they were made with a bet stake of 5% of current bank.

All bets can only have a maximum odd of 10. If you pass that limit, the winnings for the purpose of this competition will be rounded down as if they were made at odds of 10.

--
also someone should make clear some things,if someone has a bankroll of 100 btc and for example someone has 0.1 btc,that means that the 100btc is in the better position by a mile because of the % thing

I think everybody should have the same start up budget,like the minimum to enter should be at least 0.1 btc and nothing more then that
also betslips should be posted before the game or sended to the OP

The only positive thing i have seen in the thread is that the competition will start in 13 days,that means you got lots and lots of fixing to do

also pm me what i need to post in the thread to enter

Thank you for the clarification. For a moment I thought you meant the highest roi as the highest bankroll at the end of this.

The problem with the addresses is that we need one single address to be able to track every single bet made by that participant in order to prevent cheating (like ommiting losing bets etc).

As for the different bankrolls there will be no advantage. You will state the bankroll you will use for the competition, and all your winnings and losses and bet stakes will relate to that bankroll.

The winner will be the one with higher % of profit, and not the higher flat profit, so it's equal to everyone either you have a big bank or a small one.

5. All bets must be made from the coin address you provided during the competition registration. Bets not made from that address will not count for the competition.

What about people with HD wallets which have different sending and receiving addresses every transaction?

Also bettors with higher bankrolls will have a clear advantage because single bets will be on par with lower stakes on the parlays for the people with smaller bankrolls.

Thank you for you interest, please remember to follow the registration instructions stated above if you really decide to join!